Form 5500 Annual Return/Report of Employee Benefit Plan · 2020. 6. 3. · For Paperwork Reduction Act Notice, see the Instructions for Form 5500. Schedule A (Form 5500) 2018 v. 171027

Form 5500

Department of the Treasury Internal Revenue Service

Department of Labor Employee Benefits Security

Administration

Pension Benefit Guaranty Corporation

Annual Return/Report of Employee Benefit Plan This form is required to be filed for employee benefit plans under sections 104

and 4065 of the Employee Retirement Income Security Act of 1974 (ERISA) and sections 6057(b) and 6058(a) of the Internal Revenue Code (the Code).

Complete all entries in accordance with the instructions to the Form 5500.

OMB Nos. 1210-0110 1210-0089

2018

This Form is Open to Public Inspection

Part I Annual Report Identification Information For calendar plan year 2018 or fiscal plan year beginning and ending

A This return/report is for: X a multiemployer plan X a multiple-employer plan (Filers checking this box must attach a list of

participating employer information in accordance with the form instructions.)

X a single-employer plan X a DFE (specify) _C_

B This return/report is: X the first return/report X the final return/report

X an amended return/report X a short plan year return/report (less than 12 months)

C If the plan is a collectively-bargained plan, check here. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X

D Check box if filing under: X Form 5558 X automatic extension X the DFVC program

X special extension (enter description) ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE

Part II Basic Plan Information—enter all requested information

1a Name of plan

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI


1b Three-digit plan

number (PN) 001

1c Effective date of plan

YYYY-MM-DD

2a Plan sponsor’s name (employer, if for a single-employer plan)

Mailing address (include room, apt., suite no. and street, or P.O. Box) City or town, state or province, country, and ZIP or foreign postal code (if foreign, see instructions)

2b Employer Identification

Number (EIN)

012345678


D/B/A ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI

c/o ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

123456789 ABCDEFGHI ABCDEFGHI ABCDE


CITYEFGHI ABCDEFGHI AB, ST 012345678901

UK

2c Plan Sponsor’s telephone

number

0123456789

2d Business code (see

instructions)

012345

Caution: A penalty for the late or incomplete filing of this return/report will be assessed unless reasonable cause is established.

Under penalties of perjury and other penalties set forth in the instructions, I declare that I have examined this return/report, including accompanying schedules, statements and attachments, as well as the electronic version of this return/report, and to the best of my knowledge and belief, it is true, correct, and complete.

SIGN HERE

YYYY-MM-DD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE

Signature of plan administrator Date Enter name of individual signing as plan administrator

SIGN HERE


Signature of employer/plan sponsor Date Enter name of individual signing as employer or plan sponsor

SIGN HERE


Signature of DFE Date Enter name of individual signing as DFE

For Paperwork Reduction Act Notice, see the Instructions for Form 5500. Form 5500 (2018) v. 171027

UNION CARBIDE EMPLOYEES' PENSION PLAN

989-636-5365

001

Filed with authorized/valid electronic signature.

325100

01/01/2018

07/01/1937

BRYAN JENDRETZKE

2211 H.H DOW WAYMIDLAND, MI 48674

12/31/2018

X

UNION CARBIDE CORPORATION C/O THE DOW CHEMICAL COMPANY

X

13-1421730

X

10/14/2019

Form 5500 (2018) Page 2

3a Plan administrator’s name and address X Same as Plan Sponsor


c/o ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI



CITYEFGHI ABCDEFGHI AB, ST 012345678901

UK

3b Administrator’s EIN

012345678

3c Administrator’s telephone

number

0123456789

4 If the name and/or EIN of the plan sponsor or the plan name has changed since the last return/report filed for this plan,

enter the plan sponsor’s name, EIN, the plan name and the plan number from the last return/report: 4b EIN012345678

a Sponsor’s name

c Plan Name

4d PN

012

5 Total number of participants at the beginning of the plan year 5 123456789012

6 Number of participants as of the end of the plan year unless otherwise stated (welfare plans complete only lines 6a(1),

6a(2), 6b, 6c, and 6d).

a(1) Total number of active participants at the beginning of the plan year .......................................................................................... 6a(1)

a(2) Total number of active participants at the end of the plan year .................................................................................................. 6a(2)

b Retired or separated participants receiving benefits......................................................................................................................... 6b 123456789012

c Other retired or separated participants entitled to future benefits ..................................................................................................... 6c 123456789012 d Subtotal. Add lines 6a(2), 6b, and 6c. .................................................................................................................................... 6d 123456789012 e Deceased participants whose beneficiaries are receiving or are entitled to receive benefits. ........................................................... 6e 123456789012 f Total. Add lines 6d and 6e. ............................................................................................................................................................. 6f 123456789012 g Number of participants with account balances as of the end of the plan year (only defined contribution plans

complete this item) ........................................................................................................................................................................ 6g 123456789012 h Number of participants who terminated employment during the plan year with accrued benefits that were

less than 100% vested .................................................................................................................................................................... 6h 123456789012

7 Enter the total number of employers obligated to contribute to the plan (only multiemployer plans complete this item) .................... 7

8a If the plan provides pension benefits, enter the applicable pension feature codes from the List of Plan Characteristics Codes in the instructions:

b If the plan provides welfare benefits, enter the applicable welfare feature codes from the List of Plan Characteristics Codes in the instructions:

9a Plan funding arrangement (check all that apply) 9b Plan benefit arrangement (check all that apply)

(1) X Insurance (1) X Insurance

(2) X Code section 412(e)(3) insurance contracts (2) X Code section 412(e)(3) insurance contracts

(3) X Trust (3) X Trust

(4) X General assets of the sponsor (4) X General assets of the sponsor

10 Check all applicable boxes in 10a and 10b to indicate which schedules are attached, and, where indicated, enter the number attached. (See instructions)

a Pension Schedules b General Schedules

(1) X R (Retirement Plan Information) (1) X H (Financial Information)

(2) X MB (Multiemployer Defined Benefit Plan and Certain Money

Purchase Plan Actuarial Information) - signed by the plan actuary

(2) X I (Financial Information – Small Plan)

(3) X ___ A (Insurance Information)

(4) X C (Service Provider Information)

(3) X SB (Single-Employer Defined Benefit Plan Actuarial

Information) - signed by the plan actuary

(5) X D (DFE/Participating Plan Information)

(6) X G (Financial Transaction Schedules)

39743

8551

X

2266

X

24324

X

X

X

40739

1A

13-1421730

1E

989-636-5365

1C

X

4800

3H


DOW NORTH AMERICA BENEFITS2211 H.H. DOW WAYMIDLAND, MI 48674

3F

1

X

34943

X

X

2068

X

8

Form 5500 (2018) Page 3

Part III Form M-1 Compliance Information (to be completed by welfare benefit plans)

11a If the plan provides welfare benefits, was the plan subject to the Form M-1 filing requirements during the plan year? (See instructions and 29 CFR

2520.101-2.) ........................………..…. X Yes X No

If “Yes” is checked, complete lines 11b and 11c.

11b Is the plan currently in compliance with the Form M-1 filing requirements? (See instructions and 29 CFR 2520.101-2.) ……..... X Yes X No

11c Enter the Receipt Confirmation Code for the 2018 Form M-1 annual report. If the plan was not required to file the 2018 Form M-1 annual report, enter the

Receipt Confirmation Code for the most recent Form M-1 that was required to be filed under the Form M-1 filing requirements. (Failure to enter a valid Receipt Confirmation Code will subject the Form 5500 filing to rejection as incomplete.)

Receipt Confirmation Code______________________

SCHEDULE A

(Form 5500) Department of the Treasury

Internal Revenue Service

Department of Labor Employee Benefits Security Administration


Insurance Information

This schedule is required to be filed under section 104 of the Employee Retirement Income Security Act of 1974 (ERISA).

File as an attachment to Form 5500.

Insurance companies are required to provide the information

pursuant to ERISA section 103(a)(2).

OMB No. 1210-0110

2018


For calendar plan year 2018 or fiscal plan year beginning and ending

A Name of plan

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE

FGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI

B Three-digit

plan number (PN) 001

C Plan sponsor’s name as shown on line 2a of Form 5500

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE

FGHI ABCDEFGHI

D Employer Identification Number (EIN)

012345678

Part I Information Concerning Insurance Contract Coverage, Fees, and Commissions Provide information for each contract

on a separate Schedule A. Individual contracts grouped as a unit in Parts II and III can be reported on a single Schedule A.

1 Coverage Information:

(a) Name of insurance carrier


(b) EIN (c) NAIC

code (d) Contract or

identification number

(e) Approximate number of persons covered at end of

policy or contract year

Policy or contract year

(f) From (g) To

012345678 ABCDE ABCDE0123456789 1234567 YYYY-MM-DD YYYY-MM-DD

2 Insurance fee and commission information. Enter the total fees and total commissions paid. List in line 3 the agents, brokers, and other persons in

descending order of the amount paid.

(a) Total amount of commissions paid (b) Total amount of fees paid

123456789012345 123456789012345

3 Persons receiving commissions and fees. (Complete as many entries as needed to report all persons).

(a) Name and address of the agent, broker, or other person to whom commissions or fees were paid

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE



CITY56789 ABCDEFGHI AB, ST 021345678901

(b) Amount of sales and base commissions paid

Fees and other commissions paid

(e) Organization code (c) Amount (d) Purpose

-123456789012345 -123456789012345 ABCDEFGHI ABCDEFGHI ABCDEFGHI



1







Fees and other commissions paid

(e) Organization code (c) Amount (d) Purpose

-123456789012345 -123456789012345




1

For Paperwork Reduction Act Notice, see the Instructions for Form 5500. Schedule A (Form 5500) 2018 v. 171027


13-1421730

001

01/01/2018 12/31/2018

THE PRUDENTIAL INSURANCE COMPANY OF AMERICA

34778VCA-GA-5298 01/01/2018 12/31/201822-1211670 68241


Schedule A (Form 5500) 2018 Page 2 – 1 x







Fees and other commissions paid (e) Organization

code (c) Amount (d) Purpose




1












1












1












1












1

1

Schedule A (Form 5500) 2018 Page 3

Part II Investment and Annuity Contract Information Where individual contracts are provided, the entire group of such individual contracts with each carrier may be treated as a unit for purposes of this report.

4 Current value of plan’s interest under this contract in the general account at year end ......................................................... 4 123456789012345

5 Current value of plan’s interest under this contract in separate accounts at year end ........................................................... 5 123456789012345

6 Contracts With Allocated Funds:

a State the basis of premium rates

b Premiums paid to carrier .............................................................................................................................................. 6b -123456789012345

c Premiums due but unpaid at the end of the year .......................................................................................................... 6c -123456789012345

d If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or

retention of the contract or policy, enter amount. ......................................................................................................... 6d -123456789012345

Specify nature of costs

e Type of contract: (1) X individual policies (2) X group deferred annuity

(3) X other (specify)

f If contract purchased, in whole or in part, to distribute benefits from a terminating plan, check here X X

7 Contracts With Unallocated Funds (Do not include portions of these contracts maintained in separate accounts)

a Type of contract: (1) X deposit administration (2) X immediate participation guarantee

(3) X guaranteed investment (4) X other

b Balance at the end of the previous year ....................................................................................................................... 7b 123456789012345

c Additions: (1) Contributions deposited during the year .......................................... 7c(1) -123456789012345

(2) Dividends and credits ....................................................................................... 7c(2) -123456789012345

(3) Interest credited during the year ....................................................................... 7c(3) -123456789012345

(4) Transferred from separate account................................................................... 7c(4) -123456789012345

(5) Other (specify below) ....................................................................................... 7c(5) -123456789012345

(6)Total additions ......................................................................................................................................................... 7c(6) 123456789012345

d Total of balance and additions (add lines 7b and 7c(6)). .............................................................................................. 7d 123456789012345

e Deductions:

(1) Disbursed from fund to pay benefits or purchase annuities during year 7e(1) -123456789012345

(2) Administration charge made by carrier .............................................................. 7e(2) -123456789012345

(3) Transferred to separate account ........................................................................ 7e(3) -123456789012345

(4) Other (specify below) ........................................................................................ 7e(4) -123456789012345

(5) Total deductions ...................................................................................................................................................... 7e(5) 123456789012345

f Balance at the end of the current year (subtract line 7e(5) from line 7d) ...................................................................... 7f 123456789012345

0

0

0

0

1302844616

0

Schedule A (Form 5500) 2018 Page 4

Part III Welfare Benefit Contract Information

If more than one contract covers the same group of employees of the same employer(s) or members of the same employee organizations(s), the information may be combined for reporting purposes if such contracts are experience-rated as a unit. Where contracts cover individual employees, the entire group of such individual contracts with each carrier may be treated as a unit for purposes of this report.

8 Benefit and contract type (check all applicable boxes) a X Health (other than dental or vision) b X Dental c X Vision d X Life insurance

e X Temporary disability (accident and sickness) f X Long-term disability g X Supplemental unemployment h X Prescription drug

i X Stop loss (large deductible) j X HMO contract k X PPO contract l X Indemnity contract

m X Other (specify) ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCKEFGHI ABCDEFGHI ABCDEFGHI ABCDE

9 Experience-rated contracts:

a Premiums: (1) Amount received ...................................................................................... 9a(1) -123456789012345

(2) Increase (decrease) in amount due but unpaid ......................................................... 9a(2) -123456789012345

(3) Increase (decrease) in unearned premium reserve .................................................. 9a(3) -123456789012345

(4) Earned ((1) + (2) - (3)) ............................................................................................................................................... 9a(4) 123456789012345

b Benefit charges (1) Claims paid .................................................................................... 9b(1) -123456789012345

(2) Increase (decrease) in claim reserves ...................................................................... 9b(2) -123456789012345

(3) Incurred claims (add (1) and (2)) .............................................................................................................................. 9b(3) 123456789012345

(4) Claims charged ........................................................................................................................................................ 9b(4) 123456789012345

c Remainder of premium: (1) Retention charges (on an accrual basis) -- -123456789012345

(A) Commissions .................................................................................................... 9c(1)(A) -123456789012345

(B) Administrative service or other fees ................................................................... 9c(1)(B) -123456789012345

(C) Other specific acquisition costs ......................................................................... 9c(1)(C) -123456789012345

(D) Other expenses ................................................................................................. 9c(1)(D) -123456789012345

(E) Taxes ................................................................................................................ 9c(1)(E) -123456789012345

(F) Charges for risks or other contingencies ............................................................ 9c(1)(F) -123456789012345

(G) Other retention charges .................................................................................... 9c(1)(G) -123456789012345

(H) Total retention ................................................................................................................................................... 9c(1)(H) 123456789012345

(2) Dividends or retroactive rate refunds. (These amounts were X paid in cash, or X credited.) ................................ 9c(2) 123456789012345

d Status of policyholder reserves at end of year: (1) Amount held to provide benefits after retirement ............................. 9d(1) 123456789012345

(2) Claim reserves ........................................................................................................................................................ 9d(2) 123456789012345

(3) Other reserves......................................................................................................................................................... 9d(3) 123456789012345

e Dividends or retroactive rate refunds due. (Do not include amount entered in line 9c(2).) ............................................ 9e 123456789012345

10 Nonexperience-rated contracts:

a Total premiums or subscription charges paid to carrier ................................................................................................. 10a 123456789012345

b If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or

retention of the contract or policy, other than reported in Part I, line 2 above, report amount. ........................................ 10b

-

123456789012345

Specify nature of costs.

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD









ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

Part IV Provision of Information

11 Did the insurance company fail to provide any information necessary to complete Schedule A? ............ X Yes X No

12 If the answer to line 11 is “Yes,” specify the information not provided.

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDE

X

0

0

0

SCHEDULE SB

(Form 5500)




Single-Employer Defined Benefit Plan Actuarial Information

This schedule is required to be filed under section 104 of the Employee Retirement Income Security Act of 1974 (ERISA) and section 6059 of the

Internal Revenue Code (the Code).

File as an attachment to Form 5500 or 5500-SF.

OMB No. 1210-0110

2018



Round off amounts to nearest dollar.

Caution: A penalty of $1,000 will be assessed for late filing of this report unless reasonable cause is established. A Name of plan

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI


ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

B Three-digit


C Plan sponsor’s name as shown on line 2a of Form 5500 or 5500-SF


ABCDEFGHI ABCDEFGHI


012345678

E Type of plan: X Single X Multiple-A X Multiple-B F Prior year plan size: X 100 or fewer X 101-500 X More than 500

Part I Basic Information

3 Funding target/participant count breakdown (1) Number of participants

(2) Vested Funding Target

(3) Total Funding Target

a For retired participants and beneficiaries receiving payment .................................................................................... .

b For terminated vested participants ............................................................................................................................

c For active participants ...............................................................................................................................................

d Total .........................................................................................................................................................................

4 If the plan is in at-risk status, check the box and complete lines (a) and (b) ............................. X

a Funding target disregarding prescribed at-risk assumptions .................................................................................... 4a -123456789012345

b Funding target reflecting at-risk assumptions, but disregarding transition rule for plans that have been in

at-risk status for fewer than five consecutive years and disregarding loading factor ................................................ 4b

-123456789012345

5 Effective interest rate .................................................................................................................................................. 5 123.12%

6 Target normal cost ..................................................................................................................................................... 6 -123456789012345

Statement by Enrolled Actuary

To the best of my knowledge, the information supplied in this schedule and accompanying schedules, statements and attachments, if any, is complete and accurate. Each prescribed assumption was applied in accordance with applicable law and regulations. In my opinion, each other assumption is reasonable (taking into account the experience of the plan and reasonable expectations) and such other assumptions, in combination, offer my best estimate of anticipated experience under the plan.

SIGN HERE

Signature of actuary Date

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE YYYY-MM-DD

Type or print name of actuary Most recent enrollment number

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE 1234567

Firm name Telephone number (including area code)



UK

1234567890

Address of the firm

If the actuary has not fully reflected any regulation or ruling promulgated under the statute in completing this schedule, check the box and see instructions

X

For Paperwork Reduction Act Notice, see the Instructions for Form 5500 or 5500-SF.

Schedule SB (Form 5500) 2018 v. 171027

1 Enter the valuation date: Month _________ Day _________ Year _________

2 Assets:

a Market value.............................................................................................................................................................. 2a -123456789012345

b Actuarial value .......................................................................................................................................................... 2b -123456789012345

01

2440181601

2179


3342014340

13-1421730

31852629

001

01/01/2018

17-06968

3322108256 3323133113

421314012

29318

248-936-7700

12/31/2018

2018

5.60

420289155

01

461637500

WILLIS TOWERS WATSON US LLC

9520

3268784846

CRAIG HOST

10/07/2019

2440181601

41017

26555 EVERGREEN RD., SUITE 1600SOUTHFIELD, MI 48076


461637500

XX

Schedule SB (Form 5500) 2018 Page 2 - 1- x

Part II Beginning of Year Carryover and Prefunding Balances (a) Carryover balance (b) Prefunding balance

7 Balance at beginning of prior year after applicable adjustments (line 13 from prior

year) .............................................................................................................................. -123456789012345 -123456789012345

8 Portion elected for use to offset prior year’s funding requirement (line 35 from prior

year) .......................................................................................................................... -123456789012345 -123456789012345

9 Amount remaining (line 7 minus line 8) .......................................................................... -123456789012345 -123456789012345

10 Interest on line 9 using prior year’s actual return of % .................................. -123456789012345 -123456789012345

11 Prior year’s excess contributions to be added to prefunding balance:

a Present value of excess contributions (line 38a from prior year) ................................. -123456789012345

b(1) Interest on the excess, if any, of line 38a over line 38b from prior year

Schedule SB, using prior year's effective interest rate of % .................

b(2) Interest on line 38b from prior year Schedule SB, using prior year's actual

return ................................................................................................................... c Total available at beginning of current plan year to add to prefunding balance ..................

-123456789012345

d Portion of (c) to be added to prefunding balance........................................................ -123456789012345

-123456789012345 12 Other reductions in balances due to elections or deemed elections ............................... -123456789012345 -123456789012345

13 Balance at beginning of current year (line 9 + line 10 + line 11d – line 12) ..................... -123456789012345 -123456789012345

Part III Funding Percentages

14 Funding target attainment percentage ......................................................................................................................................................................... 14 123.12%

15 Adjusted funding target attainment percentage .......................................................................................................................................... 15 123.12%

16 Prior year’s funding percentage for purposes of determining whether carryover/prefunding balances may be used to reduce current

year’s funding requirement ........................................................................................................................................................................ 16

123.12%

17 If the current value of the assets of the plan is less than 70 percent of the funding target, enter such percentage. .................................... 17 123.12%

Part IV Contributions and Liquidity Shortfalls

18 Contributions made to the plan for the plan year by employer(s) and employees:

(a) Date (MM-DD-YYYY)

(b) Amount paid by employer(s)

(c) Amount paid by employees

(a) Date (MM-DD-YYYY)

(b) Amount paid by employer(s)

(c) Amount paid by employees

YYYY-MM-DD 12345678901234

5

12345678901234

5

YYYY-MM-DD

12345678901234

5-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

123456789012345-

123456789012345

-123456789012345

-123456789012345

-123456789012345

-123456789012345

-123456789012345

YYYY-MM-DD 12345678901234

5

12345678901234

5

YYYY-MM-DD

12345678901234

5-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

123456789012345-

123456789012345

-123456789012345

-123456789012345

-123456789012345

-123456789012345

-123456789012345

YYYY-MM-DD 12345678901234

5

12345678901234

5

YYYY-MM-DD

12345678901234

5-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

123456789012345-

123456789012345

-123456789012345

-123456789012345

-123456789012345

-123456789012345

-123456789012345

YYYY-MM-DD 12345678901234

5

12345678901234

5

YYYY-MM-DD

12345678901234

5-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

-

12345678901234

5

123456789012345-

123456789012345

-123456789012345

-123456789012345

-123456789012345

-123456789012345

-123456789012345

YYYY-MM-DD 12345678901234

5

12345678901234

5

Totals ► 18(b) 18(c)

Liquidity shortfall as of end of quarter of this plan year

(1) 1st (2) 2nd (3) 3rd (4) 4th

-123456789012345

-123456789012345 -123456789012345 -123456789012345

19 Discounted employer contributions – see instructions for small plan with a valuation date after the beginning of the year:

a Contributions allocated toward unpaid minimum required contributions from prior years. .............................................. 19a -123456789012345

b Contributions made to avoid restrictions adjusted to valuation date .............................................................................. 19b -123456789012345

c Contributions allocated toward minimum required contribution for current year adjusted to valuation date ................................. 19c -123456789012345

20 Quarterly contributions and liquidity shortfalls:

a Did the plan have a “funding shortfall” for the prior year? .......................................................................................................................... X Yes X No

b If line 20a is “Yes,” were required quarterly installments for the current year made in a timely manner? ................................................... X Yes X No

c If line 20a is “Yes,” see instructions and complete the following table as applicable:

1

174740617

0

0 0

0

X

0

10.65

100.10

23103016

216929727

165192491

91.14

0

0

0

5.78

0

0

0

0

0

X

9548126

91.14

0

0

240032743

0

0

0

0

216929727

Schedule SB (Form 5500) 2018 Page 3

Part V Assumptions Used to Determine Funding Target and Target Normal Cost

21 Discount rate:

a Segment rates: 1st segment:

123.12_%

2nd segment:

123.12_%

3rd segment:

123.12 % X N/A, full yield curve used

b Applicable month (enter code) .................................................................................................................................... 21b 1

22 Weighted average retirement age .................................................................................................................................. 22 12

23 Mortality table(s) (see instructions) Prior regulation: _ Prescribed - combined _ Prescribed - separate _ Substitute

Current regulation: _ Prescribed - combined _ Prescribed - separate _ Substitute

Part VI Miscellaneous Items

24 Has a change been made in the non-prescribed actuarial assumptions for the current plan year? If “Yes,” see instructions regarding required

attachment. .................................................................................................................................................................................................. X Yes X No

25 Has a method change been made for the current plan year? If “Yes,” see instructions regarding required attachment. ............................... X Yes X No

26 Is the plan required to provide a Schedule of Active Participants? If “Yes,” see instructions regarding required attachment. ....................... X Yes X No

27 If the plan is subject to alternative funding rules, enter applicable code and see instructions regarding

attachment ..................................................................................................................................................................... 27

Part VII Reconciliation of Unpaid Minimum Required Contributions For Prior Years

28 Unpaid minimum required contributions for all prior years .............................................................................................. 28 -123456789012345

29 Discounted employer contributions allocated toward unpaid minimum required contributions from prior years

(line 19a) ........................................................................................................................................................................ 29

-123456789012345

30 Remaining amount of unpaid minimum required contributions (line 28 minus line 29) .................................................... 30 -123456789012345

Part VIII Minimum Required Contribution For Current Year

31 Target normal cost and excess assets (see instructions):

a Target normal cost (line 6) ........................................................................................................................................... 31a -123456789012345

b Excess assets, if applicable, but not greater than line 31a .......................................................................................................... 31b

32 Amortization installments: Outstanding Balance Installment

a Net shortfall amortization installment ............................................................................. -123456789012345 -123456789012345

b Waiver amortization installment .................................................................................... -123456789012345 -123456789012345

33 If a waiver has been approved for this plan year, enter the date of the ruling letter granting the approval

(Month _________ Day _________ Year _________ )_and the waived amount ..................................................... 33

-123456789012345

34 Total funding requirement before reflecting carryover/prefunding balances (lines 31a - 31b + 32a + 32b - 33)..... 34 -123456789012345

Carryover balance Prefunding balance Total balance

35 Balances elected for use to offset funding

requirement .......................................................... -123456789012345 -123456789012345 -123456789012345

36 Additional cash requirement (line 34 minus line 35) ........................................................................................................ 36 -123456789012345

37 Contributions allocated toward minimum required contribution for current year adjusted to valuation date (line

19c) ................................................................................................................................................................................ 37 -123456789012345

38 Present value of excess contributions for current year (see instructions)

-123456789012345 a Total (excess, if any, of line 37 over line 36) ............................................................................................................... 38a

b Portion included in line 38a attributable to use of prefunding and funding standard carryover balances ..................... 38b

39 Unpaid minimum required contribution for current year (excess, if any, of line 36 over line 37)....................................... 39 -123456789012345

40 Unpaid minimum required contributions for all years ...................................................................................................... 40 -123456789012345

Part IX Pension Funding Relief Under Pension Relief Act of 2010 (See Instructions)

41 If an election was made to use PRA 2010 funding relief for this plan:

a Schedule elected ......................................................................................................................................................... 2 plus 7 years X 15 years

b Eligible plan year(s) for which the election in line 41a was made .......................................................................... X 2008 X 2009 X 2010 X 2011

79910284

6.29

X

X

294381010

X

79910284

0

79910284

4

3.92

0

0

0

0

0

31852629

0

0

48057655

X

5.52

0

0

0

60

SCHEDULE C

(Form 5500)




Service Provider Information



OMB No. 1210-0110

2018

This Form is Open to Public Inspection.


A Name of plan

ABCDEFGHI

B Three-digit



ABCDEFGHI


012345678

Part I Service Provider Information (see instructions) You must complete this Part, in accordance with the instructions, to report the information required for each person who received, directly or indirectly, $5,000 or more in total compensation (i.e., money or anything else of monetary value) in connection with services rendered to the plan or the person's position with the plan during the plan year. If a person received only eligible indirect compensation for which the plan received the required disclosures, you are required to answer line 1 but are not required to include that person when completing the remainder of this Part.

1 Information on Persons Receiving Only Eligible Indirect Compensation a Check "Yes" or "No" to indicate whether you are excluding a person from the remainder of this Part because they received only eligible

indirect compensation for which the plan received the required disclosures (see instructions for definitions and conditions).. . . . . . . . . . . . . . . X Yes X No

b If you answered line 1a “Yes,” enter the name and EIN or address of each person providing the required disclosures for the service providers who

received only eligible indirect compensation. Complete as many entries as needed (see instructions).

(b) Enter name and EIN or address of person who provided you disclosures on eligible indirect compensation




For Paperwork Reduction Act Notice, see the Instructions for Form 5500. Schedule C (Form 5500) 2018 v.180523

X

98-1035333

20-3146704

NORTHERN TRUST CORPORATION

L&B REALTY ADVISORS, LLP

HPS INVESTMENT PARTNERS, LLC


13-1421730

001

01/01/2018

HPS MEZZANINE PARTNERS II, LLC


36-2723087

12/31/2018

20-8774276

Schedule C (Form 5500) 2018 Page 2- 1 x









1

Schedule C (Form 5500) 2018 Page 3 - 1 x

2. Information on Other Service Providers Receiving Direct or Indirect Compensation. Except for those persons for whom you

answered “Yes” to line 1a above, complete as many entries as needed to list each person receiving, directly or indirectly, $5,000 or more in total compensation

(i.e., money or anything else of value) in connection with services rendered to the plan or their position with the plan during the plan year. (See instructions).

(a) Enter name and EIN or address (see instructions)

(b) Service Code(s)

(c) Relationship to

employer, employee organization, or

person known to be a party-in-interest

(d) Enter direct

compensation paid by the plan. If none,

enter -0-.

(e) Did service provider

receive indirect compensation? (sources other than plan or plan

sponsor)

(f) Did indirect compensation

include eligible indirect compensation, for which the plan received the required

disclosures?

(g) Enter total indirect

compensation received by service provider excluding

eligible indirect compensation for which you answered “Yes” to element

(f). If none, enter -0-.

(h) Did the service

provider give you a formula instead of

an amount or estimated amount?

ABCDEFGHI

ABCDEFGHI

ABCD

123456789012

345

Yes X No X Yes X No X

123456789012345

Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012

345


123456789012345

Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012

345 Yes X No X Yes X No X

Yes X No X

X

X

1

2479906

PRUDENTIAL INSURANCE CO.

1984475

WILLIS TOWERS WATSON

804761

53-0181291

22-1211670

36-1561860

0

11 15 17 50

28 50 51

21 50 51 62

NORTHERN TRUST COMPANY

X

NONE KNOWN

X

NONE KNOWN

NONE KNOWN






(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012

345


123456789012345

Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012

345


123456789012345

Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012


Yes X No X X

X

2

0756587

WESTERN ASSET MANAGEMENT COMPANY

193856

JENNISON ASSOCIATES LLC

126672

22-2540245

95-2705767

13-3200244

28 50 51 5268

28 50 51

27 28 50 51

J.P. MORGAN INVESTMENT MANAGEMENT

X

NONE KNOWN

NONE KNOWN

NONE KNOWN

X






(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012

345


123456789012345

Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012

345


123456789012345

Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012


Yes X No X X

X

X

3

86275

COVINGTON & BURLING, LLP

75238

PLANTE & MORAN PLLC

61925

38-1357951

53-0188411

13-3417984

16 17

29 50

50 99

BLOOMBERG FINANCE L.P.

NONE KNOWN

NONE KNOWN

NONE KNOWN






(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012

345


123456789012345

Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012

345


123456789012345

Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012


Yes X No X

4

047868

GOLDMAN SACHS ASSET MANAGEMENT LP

37917

CALYPSO TECHNOLOGY, INC

12785

94-3277822

13-3575636

0

52-0556948

0

16 49 50 70

28 50 51 5256

28 50 51

T ROWE PRICE ASST MGMT INC.

X

X

X

NONE KNOWN

X

X

NONE KNOWN

NONE KNOWN

X






(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012

345


123456789012345

Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012

345


123456789012345

Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012


Yes X No X X

X

X

5

8216

PAUL HASTINGS LLP

7399

EVESTMENT ALLIANCE

6675

90-0905513

95-2209675

13-5344867

16 17

29

29

FRIED FRANK SHRIVER PTN

NONE KNOWN

NONE KNOWN

NONE KNOWN






(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012

345


123456789012345

Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012

345


123456789012345

Yes X No X


(b) Service Code(s)

(c) Relationship to



(d) Enter direct


enter -0-.



sponsor)



disclosures?





(h) Did the service



ABCDEFGHI

ABCDEFGHI

ABCD

123456789012


Yes X No X

6

01866

TRADEWEB LLC

80-0935647

49 50 71

X

NONE KNOWN

XX


Part I Service Provider Information (continued)

3. If you reported on line 2 receipt of indirect compensation, other than eligible indirect compensation, by a service provider, and the service provider is a fiduciary

or provides contract administrator, consulting, custodial, investment advisory, investment management, broker, or recordkeeping services, answer the following questions for (a) each source from whom the service provider received $1,000 or more in indirect compensation and (b) each source for whom the service provider gave you a formula used to determine the indirect compensation instead of an amount or estimated amount of the indirect compensation. Complete as many entries as needed to report the required information for each source.

(a) Enter service provider name as it appears on line 2 (b) Service Codes

(see instructions)

(c) Enter amount of indirect

compensation

(d) Enter name and EIN (address) of source of indirect compensation (e) Describe the indirect compensation, including any

formula used to determine the service provider’s eligibility for or the amount of the indirect compensation.


(see instructions)


compensation




(see instructions)


compensation



1


Part II Service Providers Who Fail or Refuse to Provide Information

4 Provide, to the extent possible, the following information for each service provider who failed or refused to provide the information necessary to complete

this Schedule.

(a) Enter name and EIN or address of service provider (see

instructions)

(b) Nature of

Service Code(s)

(c) Describe the information that the service provider failed or refused to

provide

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD 10 11

12 13 ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE






ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD




1234567890


instructions) (b) Nature of

Service Code(s)


provide

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD 10 11

12 13 ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE










1234567890



Service Code(s)


provide

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD 10 11 12

13 ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE










1234567890



Service Code(s)


provide












1234567890



Service Code(s)


provide












1234567890



Service Code(s)


provide






1234567890







1

FAILED TO PROVIDE INFORMATION ON INDIRECT COMPENSATIONTRADEWEB LLC 49 50 71

80-0935647


a Name: ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD b EIN: 123456789

c Position: ABCDEFGHI ABCDEFGHI ABCD

d Address: ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD




e Telephone: 1234567890

Explanation: ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI


ABCDEFGHI a Name: ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD b EIN: 123456789








































ABCDEFGHI

Part III Termination Information on Accountants and Enrolled Actuaries (see instructions)

(complete as many entries as needed)

1

810-767-5350

38-1657951

PLAN AUDITOR

PLAN SPONSOR ENGAGED A NEW FIRM TO PERFORM THE PLAN AUDIT

4444 W BRISTOL ROADFLINT, MI 48507

PLANTE & MORAN, PLLC

SCHEDULE D

(Form 5500)


Department of Labor

Employee Benefits Security Administration

DFE/Participating Plan Information



OMB No. 1210-0110

2018



A Name of plan



ABCDEFGHI ABCDEFGHI

B Three-digit


C Plan or DFE sponsor’s name as shown on line 2a of Form 5500


ABCDEFGHI


012345678

Part I Information on interests in MTIAs, CCTs, PSAs, and 103-12 IEs (to be completed by plans and DFEs) (Complete as many entries as needed to report all interests in DFEs)

a Name of MTIA, CCT, PSA, or 103-12 IE: ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD

b Name of sponsor of entity listed in (a): ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI

ABCDEFGHI

c EIN-PN 123456789-123

d Entity

code 1 e Dollar value of interest in MTIA, CCT, PSA, or

103-12 IE at end of year (see instructions) -123456789012345



ABCDEFGHI

c EIN-PN 123456789-123

d Entity





ABCDEFGHI

c EIN-PN 123456789-123

d Entity





ABCDEFGHI

c EIN-PN 123456789-123

d Entity





ABCDEFGHI

c EIN-PN 123456789-123

d Entity





ABCDEFGHI

c EIN-PN 123456789-123

d Entity





ABCDEFGHI

c EIN-PN 123456789-123

d Entity


103-12 IE at end of year (see instructions) -123456789012345 For Paperwork Reduction Act Notice, see the Instructions for Form 5500.

Schedule D (Form 5500) 2018

v.171027

DRGT EMERGING MRKT EQTY

68546035

38-1285128-024

DRGT REAL ESTATE CORE OE

126457115

38-1285128-032

118864008


13-1421730

38-1285128-025

38-1285128-030

118836628

38-1285128-021

10617168

38-1285128-039 32575396

38-1285128-023 88633548

001

01/01/2018

DRGT REAL ESTATE REIT

DRGT INT'L DEVELOPED EQUITY

12/31/2018

DRGT GLOBAL EQUITY

DRGT US SM/MID CAP EQUITY

DRGT INTERNATIONAL SMALL CAP

M

M

M

M

THE DOW CHEMICAL COMPANY







M

M


M

Schedule D (Form 5500) 2018 Page 2 - 1 x



ABCDEFGHI

c EIN-PN 123456789-123

d Entity





ABCDEFGHI

c EIN-PN 123456789-123

d Entity





ABCDEFGHI

c EIN-PN 123456789-123

d Entity





ABCDEFGHI

c EIN-PN 123456789-123 d Entity





ABCDEFGHI






ABCDEFGHI






ABCDEFGHI

c EIN-PN 123456789-123

d Entity





ABCDEFGHI

c EIN-PN 123456789-123

d Entity





ABCDEFGHI

c EIN-PN 123456789-123

d Entity





ABCDEFGHI

c EIN-PN 123456789-123

d Entity



M

M

38-1285128-037

M

1

38-1285128-027

M

M

M

1580647

250230034







DRGT ABSOLUTE RETURN

DRGT INFRASTRUCTURE & REAL ASSETS

1679772

11362633

137737628

88252044

7782981038-1285128-038

38-1285128-028

38-1285128-019

38-1285128-016

38-1285128-020

38-1285128-026 1360436

M

M

DRGT US LARGE CAP EQTY

DRGT TACTICAL FIXED INCOME

DRGT REINSURANCE

DRGT OPPORTUNISTIC FI


DRGT US LARGE CAP EQUITY PASSIVE


DRGT EMERGING MARKET EQTY PASSIVE

Schedule D (Form 5500) 2018 Page 3 - 1 x 6

Part II Information on Participating Plans (to be completed by DFEs) (Complete as many entries as needed to report all participating plans)

a Plan name ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI


b Name of

plan sponsor


ABCDEFGHI ABCDEFGHI

c EIN-PN

123456789-123



b Name of

plan sponsor


ABCDEFGHI ABCDEFGHI

c EIN-PN

123456789-123



b Name of

plan sponsor


ABCDEFGHI ABCDEFGHI

c EIN-PN

123456789-123

a Plan name



b Name of

plan sponsor


ABCDEFGHI ABCDEFGHI

c EIN-PN

123456789-123

a Plan name



b Name of

plan sponsor


ABCDEFGHI ABCDEFGHI

c EIN-PN

123456789-123

a Plan name



b Name of

plan sponsor


ABCDEFGHI ABCDEFGHI

c EIN-PN

123456789-123

a Plan name



b Name of

plan sponsor


ABCDEFGHI ABCDEFGHI

c EIN-PN

123456789-123

a Plan name



b Name of

plan sponsor


ABCDEFGHI ABCDEFGHI

c EIN-PN

123456789-123



b Name of

plan sponsor


ABCDEFGHI ABCDEFGHI

c EIN-PN

123456789-123

a Plan name



b Name of

plan sponsor


ABCDEFGHI ABCDEFGHI

c EIN-PN

123456789-123

a Plan name



b Name of

plan sponsor


ABCDEFGHI ABCDEFGHI

c EIN-PN

123456789-123

a Plan name



b Name of

plan sponsor


ABCDEFGHI ABCDEFGHI

c EIN-PN

123456789-123

1

SCHEDULE H

(Form 5500) Department of the Treasury




Financial Information

This schedule is required to be filed under section 104 of the Employee Retirement Income Security Act of 1974 (ERISA), and section 6058(a) of the

Internal Revenue Code (the Code).


OMB No. 1210-0110

2018



A Name of plan



ABCDEFGHI ABCDEFGHI

B Three-digit




ABCDEFGHI


012345678

Part I Asset and Liability Statement

1 Current value of plan assets and liabilities at the beginning and end of the plan year. Combine the value of plan assets held in more than one trust. Report

the value of the plan’s interest in a commingled fund containing the assets of more than one plan on a line-by-line basis unless the value is reportable on lines 1c(9) through 1c(14). Do not enter the value of that portion of an insurance contract which guarantees, during this plan year, to pay a specific dollar benefit at a future date. Round off amounts to the nearest dollar. MTIAs, CCTs, PSAs, and 103-12 IEs do not complete lines 1b(1), 1b(2), 1c(8), 1g, 1h, and 1i. CCTs, PSAs, and 103-12 IEs also do not complete lines 1d and 1e. See instructions.

Assets (a) Beginning of Year (b) End of Year

a Total noninterest-bearing cash ...................................................................... 1a -123456789012345 -123456789012345

b Receivables (less allowance for doubtful accounts):

(1) Employer contributions .......................................................................... 1b(1) -123456789012345 -123456789012345

(2) Participant contributions ........................................................................ 1b(2) -123456789012345 -123456789012345

(3) Other ..................................................................................................... 1b(3) -123456789012345 -123456789012345

c General investments:

(1) Interest-bearing cash (include money market accounts & certificates of deposit) ............................................................................................

1c(1) -123456789012345 -123456789012345

(2) U.S. Government securities .................................................................. 1c(2) -123456789012345 -123456789012345

(3) Corporate debt instruments (other than employer securities):

(A) Preferred ........................................................................................ 1c(3)(A) -123456789012345 -123456789012345

(B) All other .......................................................................................... 1c(3)(B) -123456789012345 -123456789012345

(4) Corporate stocks (other than employer securities):

(A) Preferred ........................................................................................ 1c(4)(A) -123456789012345 -123456789012345

(B) Common ......................................................................................... 1c(4)(B) -123456789012345 -123456789012345

(5) Partnership/joint venture interests ......................................................... 1c(5) -123456789012345 -123456789012345

(6) Real estate (other than employer real property) ..................................... 1c(6) -123456789012345 -123456789012345

(7) Loans (other than to participants) .......................................................... 1c(7) -123456789012345 -123456789012345

(8) Participant loans .................................................................................... 1c(8) -123456789012345 -123456789012345

(9) Value of interest in common/collective trusts ......................................... 1c(9) -123456789012345 -123456789012345

(10) Value of interest in pooled separate accounts ....................................... 1c(10) -123456789012345 -123456789012345

(11) Value of interest in master trust investment accounts ............................ 1c(11) -123456789012345 -123456789012345

(12) Value of interest in 103-12 investment entities ....................................... 1c(12) -123456789012345 -123456789012345

(13) Value of interest in registered investment companies (e.g., mutual funds) ....................................................................................

1c(13) -123456789012345 -123456789012345

(14) Value of funds held in insurance company general account (unallocated contracts) ..............................................................................................

1c(14) -123456789012345 -123456789012345

(15) Other ..................................................................................................... 1c(15) -123456789012345 -123456789012345

For Paperwork Reduction Act Notice, see the Instructions for Form 5500. Schedule H (Form 5500) 2018 v.171027

318098524

162740360

380803395


13-1421730

001

01/01/2018

1356103182

143181558

1134562902

-20928876 12131891

172490457

12/31/2018

1475554312524282

90899511

0

13756951

379210020 335718080

360469

21888947437809

861117556 796963786

40000000

0 2

67715289


76542789

Schedule H (Form 5500) 2018 Page 2

(5) Unrealized appreciation (depreciation) of assets: (A) Real estate ........................ 2b(5)(A) -123456789012345

(B) Other ................................................................................................ 2b(5)(B) -123456789012345 (C) Total unrealized appreciation of assets.

Add lines 2b(5)(A) and (B) ................................................................ 2b(5)(C) -123456789012345

1d Employer-related investments: (a) Beginning of Year (b) End of Year

(1) Employer securities .................................................................................. 1d(1) -123456789012345 -123456789012345

(2) Employer real property ............................................................................. 1d(2) -123456789012345 -123456789012345

1e Buildings and other property used in plan operation ....................................... 1e -123456789012345 -123456789012345

1f Total assets (add all amounts in lines 1a through 1e) ..................................... 1f -123456789012345 -123456789012345

Liabilities

1g Benefit claims payable .................................................................................... 1g -123456789012345 -123456789012345

1h Operating payables ........................................................................................ 1h -123456789012345 -123456789012345

1i Acquisition indebtedness ................................................................................ 1i -123456789012345 -123456789012345

1j Other liabilities ................................................................................................ 1j -123456789012345 -123456789012345

1k Total liabilities (add all amounts in lines 1g through1j) .................................... 1k -123456789012345 -123456789012345

Net Assets

1l Net assets (subtract line 1k from line 1f) ......................................................... 1l -123456789012345 -123456789012345

Part II Income and Expense Statement

2 Plan income, expenses, and changes in net assets for the year. Include all income and expenses of the plan, including any trust(s) or separately maintained

fund(s) and any payments/receipts to/from insurance carriers. Round off amounts to the nearest dollar. MTIAs, CCTs, PSAs, and 103-12 IEs do not complete lines 2a, 2b(1)(E), 2e, 2f, and 2g.

Income (a) Amount (b) Total

a Contributions:

(1) Received or receivable in cash from: (A) Employers ................................. 2a(1)(A) -123456789012345

(B) Participants ....................................................................................... 2a(1)(B) -123456789012345

(C) Others (including rollovers) ............................................................... 2a(1)(C) -123456789012345

(2) Noncash contributions .............................................................................. 2a(2) -123456789012345

(3) Total contributions. Add lines 2a(1)(A), (B), (C), and line 2a(2) ................. 2a(3) -123456789012345

b Earnings on investments:

(1) Interest:

(A) Interest-bearing cash (including money market accounts and certificates of deposit) .......................................................................

2b(1)(A) -123456789012345

(B) U.S. Government securities .............................................................. 2b(1)(B) -123456789012345

(C) Corporate debt instruments ............................................................... 2b(1)(C) -123456789012345

(D) Loans (other than to participants) ...................................................... 2b(1)(D) -123456789012345

(E) Participant loans ............................................................................... 2b(1)(E) -123456789012345

(F) Other ................................................................................................ 2b(1)(F) -123456789012345

(G) Total interest. Add lines 2b(1)(A) through (F) .................................... 2b(1)(G) -123456789012345

(2) Dividends: (A) Preferred stock .................................................................. 2b(2)(A) -123456789012345

(B) Common stock .................................................................................. 2b(2)(B) -123456789012345

(C) Registered investment company shares (e.g. mutual funds) ............. 2b(2)(C)

(D) Total dividends. Add lines 2b(2)(A), (B), and (C) 2b(2)(D)

-123456789012345

(3) Rents ........................................................................................................ 2b(3) -123456789012345

(4) Net gain (loss) on sale of assets: (A) Aggregate proceeds....................... 2b(4)(A) -123456789012345

(B) Aggregate carrying amount (see instructions) ................................... 2b(4)(B) -123456789012345

(C) Subtract line 2b(4)(B) from line 2b(4)(A) and enter result ................. 2b(4)(C) -123456789012345

40172241

-40187851

18645458

1428800

3008590219

3273866551

3349784155

2713680

-4473

0

372243026776692

3338206141 2966509627

-9635749

4801322

3275957301

4856290

11578014 42080592

8001

-82

20097983

-30552102

3446

2090750

Schedule H (Form 5500) 2018 Page 3

(a) Amount (b) Total

(6) Net investment gain (loss) from common/collective trusts ......................... 2b(6) -123456789012345

(7) Net investment gain (loss) from pooled separate accounts ....................... 2b(7) -123456789012345

(8) Net investment gain (loss) from master trust investment accounts ............ 2b(8) -123456789012345

(9) Net investment gain (loss) from 103-12 investment entities ...................... 2b(9) -123456789012345 (10) Net investment gain (loss) from registered investment

companies (e.g., mutual funds) ................................................................. 2b(10) -123456789012345

c Other income .................................................................................................. 2c -123456789012345

d Total income. Add all income amounts in column (b) and enter total ..................... 2d -123456789012345

Expenses

e Benefit payment and payments to provide benefits:

(1) Directly to participants or beneficiaries, including direct rollovers .............. 2e(1) -123456789012345

(2) To insurance carriers for the provision of benefits ..................................... 2e(2) -123456789012345

(3) Other ........................................................................................................ 2e(3) -123456789012345

(4) Total benefit payments. Add lines 2e(1) through (3) .................................. 2e(4)

-123456789012345

f Corrective distributions (see instructions) ....................................................... 2f -123456789012345 g Certain deemed distributions of participant loans (see instructions) ................ 2g -123456789012345

h Interest expense ............................................................................................. 2h -123456789012345

i Administrative expenses: (1) Professional fees .............................................. 2i(1) -123456789012345

(2) Contract administrator fees ....................................................................... 2i(2) -123456789012345

(3) Investment advisory and management fees .............................................. 2i(3) -123456789012345

(4) Other ........................................................................................................ 2i(4) -123456789012345

(5) Total administrative expenses. Add lines 2i(1) through (4) ........................ 2i(5) -123456789012345

j Total expenses. Add all expense amounts in column (b) and enter total ........ 2j -123456789012345

Net Income and Reconciliation

k Net income (loss). Subtract line 2j from line 2d ........................................................... 2k -123456789012345

l Transfers of assets:

(1) To this plan ............................................................................................... 2l(1) -123456789012345

(2) From this plan ........................................................................................... 2l(2) -123456789012345

Part III Accountant’s Opinion

3 Complete lines 3a through 3c if the opinion of an independent qualified public accountant is attached to this Form 5500. Complete line 3d if an opinion is not

attached.

a The attached opinion of an independent qualified public accountant for this plan is (see instructions):

(1) X Unqualified (2) X Qualified (3) X Disclaimer (4) X Adverse

b Did the accountant perform a limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)? X Yes X No

c Enter the name and EIN of the accountant (or accounting firm) below:

(1) Name: ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCD (2) EIN: 123456789

d The opinion of an independent qualified public accountant is not attached because:

(1) X This form is filed for a CCT, PSA, or MTIA. (2) X It will be attached to the next Form 5500 pursuant to 29 CFR 2520.104-50.

Part IV Compliance Questions

4 CCTs and PSAs do not complete Part IV. MTIAs, 103-12 IEs, and GIAs do not complete lines 4a, 4e, 4f, 4g, 4h, 4k, 4m, 4n, or 5.

103-12 IEs also do not complete lines 4j and 4l. MTIAs also do not complete line 4l.

During the plan year: Yes No Amount

a Was there a failure to transmit to the plan any participant contributions within the time

period described in 29 CFR 2510.3-102? Continue to answer “Yes” for any prior year failures until

fully corrected. (See instructions and DOL’s Voluntary Fiduciary Correction Program.) ....................

4a

b Were any loans by the plan or fixed income obligations due the plan in default as of the

close of the plan year or classified during the year as uncollectible? Disregard participant loans

secured by participant’s account balance. (Attach Schedule G (Form 5500) Part I if “Yes” is

checked.) ........................................................................................................................................

4b X

276670703

258030662

37224302

-57801509

3794270

18640041

11475671

X

X

11944713

2901058

BDO USA, LLP 13-5381590

258030662

X

-74069446

-334472212

Schedule H (Form 5500) 2018 Page 4- 1 x Yes No Amount

c Were any leases to which the plan was a party in default or classified during the year as

uncollectible? (Attach Schedule G (Form 5500) Part II if “Yes” is checked.) ......................................

4c -123456789012345

d Were there any nonexempt transactions with any party-in-interest? (Do not include transactions

reported on line 4a. Attach Schedule G (Form 5500) Part III if “Yes” is

checked.) ...........................................................................................................................................

4d -123456789012345

e Was this plan covered by a fidelity bond? .......................................................................................... 4e -123456789012345

f Did the plan have a loss, whether or not reimbursed by the plan’s fidelity bond, that was caused by

fraud or dishonesty? .........................................................................................................................

4f -123456789012345

g Did the plan hold any assets whose current value was neither readily determinable on an

established market nor set by an independent third party appraiser? .................................................

4g -123456789012345

h Did the plan receive any noncash contributions whose value was neither readily

determinable on an established market nor set by an independent third party appraiser? ..................

4h -123456789012345

i Did the plan have assets held for investment? (Attach schedule(s) of assets if “Yes” is checked, and

see instructions for format requirements.) ..........................................................................................

4i

j Were any plan transactions or series of transactions in excess of 5% of the current

value of plan assets? (Attach schedule of transactions if “Yes” is checked, and

see instructions for format requirements.) ..........................................................................................

4j

k Were all the plan assets either distributed to participants or beneficiaries, transferred to another

plan, or brought under the control of the PBGC? ...............................................................................

4k

l Has the plan failed to provide any benefit when due under the plan? ................................................. 4l -123456789012345

m If this is an individual account plan, was there a blackout period? (See instructions and 29 CFR

2520.101-3.) ......................................................................................................................................

4m

n If 4m was answered “Yes,” check the “Yes” box if you either provided the required notice or one of

the exceptions to providing the notice applied under 29 CFR 2520.101-3. .........................................

4n

5a Has a resolution to terminate the plan been adopted during the plan year or any prior plan year?........ X Yes X No

If “Yes,” enter the amount of any plan assets that reverted to the employer this year ____________________________________.

5b If, during this plan year, any assets or liabilities were transferred from this plan to another plan(s), identify the plan(s) to which assets or liabilities were

transferred. (See instructions.)

5b(1) Name of plan(s) 5b(2) EIN(s) 5b(3) PN(s)



123456789 123



123456789 123



123456789 123



123456789 123

5c If the plan is a defined benefit plan, is it covered under the PBGC insurance program (See ERISA section 4021.)? ...... X Yes X No X Not determined

If “Yes” is checked, enter the My PAA confirmation number from the PBGC premium filing for this plan year________________________. (See instructions.)

1

DOW EMPLOYEES' PENSION PLAN

15000000X

38-1285128

4157941

X

X

X

X

X

001

X

X

X

X

X

X

SCHEDULE R

(Form 5500)




Retirement Plan Information

This schedule is required to be filed under sections 104 and 4065 of the Employee Retirement Income Security Act of 1974 (ERISA) and section

6058(a) of the Internal Revenue Code (the Code).


OMB No. 1210-0110

2018



A Name of plan



ABCDEFGHI ABCDEFGHI

B Three-digit

plan number

(PN) 001



ABCDEFGHI


012345678

Part I Distributions

1 Total value of distributions paid in property other than in cash or the forms of property specified in the

instructions .................................................................................................................................................................................................. 1

-123456789012345

Part II Funding Information (If the plan is not subject to the minimum funding requirements of section 412 of the Internal Revenue Code or

ERISA section 302, skip this Part.)

If you completed line 5, complete lines 3, 9, and 10 of Schedule MB and do not complete the remainder of this schedule.

If you completed line 6c, skip lines 8 and 9.

7 Will the minimum funding amount reported on line 6c be met by the funding deadline? ................................................................................. X Yes X No X N/A

8 If a change in actuarial cost method was made for this plan year pursuant to a revenue procedure or other

authority providing automatic approval for the change or a class ruling letter, does the plan sponsor or plan administrator agree with the change? ..........................................................................................................................................................

X Yes X No X N/A

Part III Amendments

9 If this is a defined benefit pension plan, were any amendments adopted during this plan

year that increased or decreased the value of benefits? If yes, check the appropriate box. If no, check the “No” box. ......................................................................................................................................................................

X Increase X Decrease X Both X No

Part IV ESOPs (see instructions). If this is not a plan described under section 409(a) or 4975(e)(7) of the Internal Revenue Code, skip this Part.

10 Were unallocated employer securities or proceeds from the sale of unallocated securities used to repay any exempt loan? ...................... X Yes X No

11 a Does the ESOP hold any preferred stock? ................................................................................................................................. X Yes X No

b If the ESOP has an outstanding exempt loan with the employer as lender, is such loan part of a “back-to-back” loan?

(See instructions for definition of “back-to-back” loan.) ............................................................................................................... X Yes X No

12 Does the ESOP hold any stock that is not readily tradable on an established securities market? ....................................................... X Yes X No

For Paperwork Reduction Act Notice, see the Instructions for Form 5500. Schedule R (Form 5500) 2018 v. 171027

All references to distributions relate only to payments of benefits during the plan year.

2 Enter the EIN(s) of payor(s) who paid benefits on behalf of the plan to participants or beneficiaries during the year (if more than two, enter EINs of the two

payors who paid the greatest dollar amounts of benefits):

EIN(s): _______________________________ _______________________________

Profit-sharing plans, ESOPs, and stock bonus plans, skip line 3.

3 Number of participants (living or deceased) whose benefits were distributed in a single sum, during the plan

year ............................................................................................................................................................................................................. 3

12345678

4 Is the plan administrator making an election under Code section 412(d)(2) or ERISA section 302(d)(2)? ..................................................................... X Yes X No X N/A

If the plan is a defined benefit plan, go to line 8.

5 If a waiver of the minimum funding standard for a prior year is being amortized in this

plan year, see instructions and enter the date of the ruling letter granting the waiver. Date: Month _________ Day _________ Year _________

6 a Enter the minimum required contribution for this plan year (include any prior year accumulated funding

deficiency not waived) ........................................................................................................................................................................... 6a -123456789012345

b Enter the amount contributed by the employer to the plan for this plan year ........................................................................................... 6b -123456789012345

c Subtract the amount in line 6b from the amount in line 6a. Enter the result

(enter a minus sign to the left of a negative amount) .............................................................................................................................. 6c -123456789012345

X


13-1421730

001

01/01/2018

0

60

12/31/2018

X

X


Schedule R (Form 5500) 2018 Page 2 - 1- x

Part V Additional Information for Multiemployer Defined Benefit Pension Plans

13 Enter the following information for each employer that contributed more than 5% of total contributions to the plan during the plan year (measured in

dollars). See instructions. Complete as many entries as needed to report all applicable employers.

a Name of contributing employer

b EIN c Dollar amount contributed by employer

d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box X

and see instructions regarding required attachment. Otherwise, enter the applicable date.) Month _______ Day _______ Year _______

e Contribution rate information (If more than one rate applies, check this box X and see instructions regarding required attachment. Otherwise,

complete lines 13e(1) and 13e(2).) (1) Contribution rate (in dollars and cents) _____________

(2) Base unit measure: X Hourly X Weekly X Unit of production X Other (specify):







(2) Base unit measure: X Hourly X Weekly X Unit of production X Other (specify): _______________________________





























1

Schedule R (Form 5500) 2018 Page 3

14 Enter the number of participants on whose behalf no contributions were made by an employer as an employer

of the participant for:

a The current year ......................................................................................................................................................

123456789012345

14a

b The plan year immediately preceding the current plan year ..................................................................................... 14b 123456789012345

c The second preceding plan year ............................................................................................................................. 14c 123456789012345

15 Enter the ratio of the number of participants under the plan on whose behalf no employer had an obligation to make an

employer contribution during the current plan year to:

a The corresponding number for the plan year immediately preceding the current plan year ...................................... 15a 123456789012345

b The corresponding number for the second preceding plan year .............................................................................. 15b 123456789012345

16 Information with respect to any employers who withdrew from the plan during the preceding plan year:

a Enter the number of employers who withdrew during the preceding plan year ...................................................... 16a 123456789012345

b If line 16a is greater than 0, enter the aggregate amount of withdrawal liability assessed or estimated to be

assessed against such withdrawn employers .......................................................................................................... 16b

123456789012345

17 If assets and liabilities from another plan have been transferred to or merged with this plan during the plan year, check box and see instructions regarding

supplemental information to be included as an attachment. ....................................................................................................................... X

Part VI Additional Information for Single-Employer and Multiemployer Defined Benefit Pension Plans

18 If any liabilities to participants or their beneficiaries under the plan as of the end of the plan year consist (in whole or in part) of liabilities to such participants

and beneficiaries under two or more pension plans as of immediately before such plan year, check box and see instructions regarding supplemental

information to be included as an attachment ....................................................................................................................................................................... X

19 If the total number of participants is 1,000 or more, complete lines (a) through (c)

a Enter the percentage of plan assets held as:

Stock: _____% Investment-Grade Debt: _____% High-Yield Debt: _____% Real Estate: _____% Other: _____%

b Provide the average duration of the combined investment-grade and high-yield debt:

X 0-3 years X 3-6 years X 6-9 years X 9-12 years X 12-15 years X 15-18 years X 18-21 years X 21 years or more

c What duration measure was used to calculate line 19(b)?

X Effective duration X Macaulay duration X Modified duration X Other (specify):

3.3

X

42.3 0.2

X

29.3 24.9

The report accompanying these financial statements was issued by BDO USA, LLP, a Delaware limited liability partnership and the U.S. member of BDO International Limited, a UK company limited by guarantee.

Union Carbide Employees’ Pension Plan

Financial Statements and Supplemental Schedules Years Ended December 31, 2018 and 2017


Financial Statements and Supplemental Schedules Years Ended December 31, 2018 and 2017


Contents

2

Independent Auditor’s Report 3-4 Financial Statements

Statements of Net Assets Available for Benefits as of December 31, 2018 and 2017 5 Statements of Changes in Net Assets Available for Benefits for the Years Ended December 31, 2018 and 2017 6 Notes to Financial Statements 7-52

Supplemental Schedules

Schedule H, Line 4j - Schedule of Reportable Transactions 53-57 Schedule H, Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2018 58-127

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3

BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms.

Independent Auditor’s Report Plan Administrator and members of the

Dow Chemical Company Investment Committee Union Carbide Employees’ Pension Plan Midland, Michigan Report on the Financial Statements We were engaged to audit the accompanying financial statements of the Union Carbide Employees’ Pension Plan (the Plan), which comprise the statement of net assets available for benefits as of December 31, 2018, the related statement of changes in net assets available for benefits for the year then ended, and the related notes to the financial statements. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express an opinion on these 2018 financial statements based on conducting the audit in accordance with auditing standards generally accepted in the United States of America. Because of the matter described in the Basis for Disclaimer of Opinion paragraph, however, we were not able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion. Basis for Disclaimer of Opinion As permitted by 29 CFR 2520.103-8 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, the Plan Administrator instructed us not to perform, and we did not perform, any auditing procedures with respect to the information summarized in Note 3, which was certified by The Northern Trust Company, the trustee of the Plan, except for comparing such information with the related information included in the financial statements. We have been informed by the Plan Administrator that the trustee holds the Plan’s investment assets and executes investment transactions. The Plan Administrator has obtained a certification from the trustee as of and for the year ended December 31, 2018 that the information provided to the Plan Administrator by the trustee is complete and accurate.

4

Disclaimer of Opinion Because of the significance of the matter described in the Basis for Disclaimer of Opinion paragraph, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on the 2018 financial statements. Accordingly, we do not express an opinion on these financial statements. Other Matter - 2017 Financial Statements The financial statements of the Plan as of and for the year ended December 31, 2017 were audited by predecessor auditors. As permitted by 29 CFS 2520.103-8 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under ERISA, the Plan Administrator instructed the predecessor auditors not to perform and they did not perform, auditing procedures with respect to the information certified by the trustee. Their report, dated October 8, 2018, indicated that (a) because of the significance of the information that they did not audit, they were not able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion, and (b) the form and content of the information included in the financial statements, other than that derived from the information certified by the trustee, was presented in compliance with the Department of Labor’s Rules and Regulations for Reporting and Disclosures under ERISA. Other Matter – 2018 Supplemental Schedules The supplemental Schedule of Assets (Held at End of Year) and Schedule of Reportable Transactions as of and for the year ended December 31, 2018 are required by the DOL’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, and are presented for the purpose of additional analysis and are not a required part of the financial statements. Because of the significance of the matter described in the Basis for Disclaimer of Opinion paragraph, we do not express an opinion on these supplemental schedules. Report on Form and Content in Compliance With the DOL’s Rules and Regulations The form and content of the information included in the financial statements and supplemental schedules, other than that derived from the information certified by the trustee, have been audited by us in accordance with auditing standards generally accepted in the United States of America and, in our opinion, are presented in compliance with the DOL’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974.

October 14, 2019


Statements of Net Assets Available for Benefits

5

December 31, 2018 2017 Assets Investments: Plan interest in Dow Retirement Group Trust (Note 9) $ 1,134,562,902 $ 1,356,103,182 Investments, at fair value (Note 8) 1,857,082,880 1,933,718,882 Total investments 2,991,645,782 3,289,822,064 Employer contributions receivable - 40,000,000 Accrued interest and dividends 14,755,543 12,524,282 Cash 2,188,894 7,437,809 Total Assets 3,008,590,219 3,349,784,155 Liabilities Accrued liabilities 4,856,290 4,801,322 Transfer due to affiliated Plan (Note 2) 37,224,302 6,776,692 Total Liabilities 42,080,592 11,578,014 Net Assets Available for Benefits $ 2,966,509,627 $ 3,338,206,141

See accompanying notes to financial statements.


Statements of Changes in Net Assets Available for Benefits

6

Year ended December 31, 2018 2017 Additions Employer contributions $ - $ 200,000,000 Investment (loss) income: Interest and dividends 40,175,687 44,797,043 Plan interest in Dow Retirement Group Trust investment (loss) income, net of expenses (Note 9) (74,069,446) 174,644,643 Net (depreciation) appreciation in fair value of investments (26,621,429) 108,078,455 Rental income 2,713,679 3,038,948 Total investment (loss) income (57,801,509) 330,559,089 Total Additions (57,801,509) 530,559,089 Deductions Benefits paid to participants or beneficiaries 258,030,662 260,355,881 Purchase of annuity contracts (Note 2) - 475,851 Administrative expenses 18,640,041 19,592,722 Total Deductions 276,670,703 280,424,454 Transfers Out (37,224,302) (4,456,214) Net (decrease) increase (371,696,514) 245,678,421 Net Assets Available for Benefits, beginning of year 3,338,206,141 3,092,527,720 Net Assets Available for Benefits, end of year $ 2,966,509,627 $ 3,338,206,141

See accompanying notes to financial statements.


Notes to Financial Statements

7

1. Plan Description The following description of Union Carbide Employees’ Pension Plan (the Plan) provides only general information. Participants should refer to the Plan Document and summary plan description for a more complete description of the Plan’s provisions. General Union Carbide Corporation (UCC or Corporation) is the Plan sponsor. UCC is a wholly owned subsidiary of The Dow Chemical Company (Dow). Employees of UCC and certain of its participating subsidiary companies are eligible to participate in the Plan. The Retirement Program Plan for Employees of Union Carbide Corporation and its Participating Subsidiary Companies (UCRP or Prior Plan Component) was a defined benefit program covering substantially all U.S.-based employees of UCC and its participating subsidiaries. The UCRP became effective, as a contributory plan, on July 1, 1937 and was amended to include a noncontributory plan on June 1, 1950. Since July 1, 1969, no new enrollments in the contributory portion of the plan have been accepted. Effective February 7, 2003, the UCRP was renamed the Union Carbide Employees’ Pension Plan (UCEPP) and restated in its entirety. Effective January 1, 2008, the Plan was amended to be composed of the following components:

Personal Pension Account (PPA) Component - a cash balance formula that generally applies to employees who were first hired by the Corporation or a participating subsidiary on or after January 1, 2008 and certain participants in the Prior Plan Component who are rehired on or after January 1, 2008.

UCEPP Component - a pension equity plan formula that generally applies to employees hired by the Corporation or a participating subsidiary between February 7, 2003 and January 1, 2008. The UCEPP Component also applies to employees who were hired before February 7, 2003, and who were employed by the Corporation or a participating subsidiary on that date.

UCRP or Prior Plan Component - includes employees who terminated employment before February 7, 2003. In addition, employees who were hired before February 7, 2003, and who were employed by the Corporation or a participating subsidiary on that date, may have benefits under the Prior Plan Component.

The Plan is subject to the provisions of the Employee Retirement Income Security Act (ERISA) of 1974. The Plan was amended and restated effective January 1, 2018. Eligibility and Vesting Employees hired prior to January 1, 2008, became eligible to participate in the UCEPP component on the first day of the month following the end of the 12-month period in which the employee completed 1,000 hours of service. Employees hired on or after January 1, 2008 become participants in the PPA component on the later of the first day of the month following the end of the 12-month period in which the employee completed 1,000 hours of service, or attainment of age 21. The one-year measuring period for this requirement commences on the employee’s hire date. If the employee does not complete 1,000 hours of service during the first period, a new measurement period begins on the first day of the calendar year following the employee’s hire date, and the first day of each calendar year thereafter.



8

Generally, participants completing service after January 1, 2008 become 100% vested upon completing three years of service. Other participants completing service after December 31, 1988 become vested after five years of service. Normal Retirement Normal Retirement Age is 65. The UCEPP Component - The UCEPP formula provides an annual pension benefit to participants calculated using a basic annual accrual rate, which is earned for each year of credited service, multiplied by the employee’s highest consecutive three-year average earnings. The result of the calculation produces an account balance that is converted to an annual pension benefit using an actuarial conversion. The accrual rate is provided for according to the following schedule:

Age When Credited Service Earned Basic Annual

Accrual Percentage Less than 30 4%30 – 34 5 35 – 39 7 40 – 44 10 45 – 49 13 50 – 54 16 Equal to or greater than 55 18 For employees hired prior to February 7, 2003, annual pension benefits are calculated at the higher of the UCEPP formula or under the UCRP calculation of the greatest of (1) 1.2% of the employee’s highest average credited compensation for the highest three years out of the last 10 years of employment multiplied by the employee’s years of credited service plus $144; (2) $72 for each year of credited service for the first 10 years, $108 for each year of credited service for the next 10 years, and $144 for each year of credited service over 20 years, plus 10% of the employee’s highest average credited compensation for the highest three years out of the last 10 years of employment reduced by 1% for each year by which credited service is less than eight years, plus $144; or (3) 1.5% of the employee’s highest average credited compensation for the highest three years out of the last 10 years of employment multiplied by the employee’s years of credited service less the product of (a) the estimated Social Security benefit based on the law in effect at actual retirement assumed to commence at the later of retirement or age 62, and (b) a factor determined to be the lesser of 1.5% multiplied by the employee’s years of credited service to a maximum of 50% or the maximum offset allowed based on the employee’s age and the Internal Revenue Service integration rules in effect at actual retirement. Credited compensation includes essentially all cash compensation for services, excluding items such as allowances for foreign service and overtime premiums. Under UCEPP, compensation generally includes target performance awards instead of actual performance awards.



9

For employees with higher earnings, the highest consecutive three-year average earnings greater than the current 36-month rolling average Social Security wage base, the following UCEPP schedule is used in combination with the basic annual accrual schedule under the UCEPP formula:

Age When Credited Service Earned Supplemental Annual

Accrual Percentage Less than 30 1%30 – 39 2 40 – 44 3 Equal to or greater than 45 4 The PPA Component - The PPA formula provides an annual pension to participants calculated using pay credits and interest credits, which are applied to the participant’s notional account. Pay credits are 5% of the employee’s credited compensation. Credited compensation includes essentially all cash compensation for services, excluding items such as allowances for foreign service and overtime premiums. Under the PPA, compensation generally includes actual performance awards instead of target performance awards. The interest credit rate equals 150 basis points plus the closing rate on the six-month U.S. Treasury bill on the last business day of September immediately preceding the plan year (January 1 - December 31). Early Retirement The UCEPP Component - Under the UCRP provision, early retirement is permitted at age 50, with 10 years of service. The employee’s accrued benefit (before the Social Security offset in the 1.5% formula) is reduced by 5% for each year by which the first early retirement payment precedes the earliest of the following dates: (1) the date at which age plus service would at least be equal to 85, (2) the date of attainment of age 62 and completion of 10 years of service, or (3) the greater of the date of attainment of age 60 or 30 years of service had the employee continued to be employed by UCC. The UCEPP formula enables a departing vested employee to receive a benefit at any time with no penalty. The PPA Component - The PPA enables a departing vested employee to receive a benefit at any time with no penalty. Delayed Retirement The UCEPP Component - The UCEPP component allows for continued employment past age 65, retirement at a later age, and continuing accrual of benefits. The UCEPP benefit must be commenced at age 70.5. The PPA Component- The PPA component allows for continued employment past age 65, retirement at a later age, and continuing pay credits and interest credits. The PPA does not allow an employee to receive his or her benefit while working, even if the employee works past age 70.5. Disability Retirement The UCEPP Component - An employee is entitled to receive disability retirement when the employee attains age 50 and has 10 or more years of credited service or eligibility service, whichever is greater; is medically determined to be totally disabled; and ceases active service with UCC.



10

The PPA Component - There are no disability provisions under PPA. Survivor Income Benefit The UCEPP and PPA Components - Upon death while an active employee, and after three years of vesting service at the time of death, a benefit is payable immediately to the surviving spouse, approved domestic partner, beneficiary of record, or default beneficiary. Payment Options - Both the UCEPP and PPA contain a lump-sum provision. The UCEPP lump sum is only permissible under certain conditions. Other options include:

Deferred Retirement Benefits - For vested employees who elect a deferred annuity.

Immediate Retirement Benefits - For any vested employee. Additional Options Available The UCEPP Component

Joint and Survivor Options (50% and 100%) - Allows a departing employee the opportunity to designate a survivor to receive an ongoing benefit in the event of his or her death. Under UCRP, a 50% and 75% joint and survivor option is available.

Guaranteed Payout Option - Allows a departing employee the opportunity to elect to be “guaranteed” that any unpaid amount of the UCEPP account balance at death will be paid to his or her beneficiary.

Pension Purchase Option - Allows a departing employee the opportunity to buy additional

monthly pension income with all or part of his or her pretax account assets in The Dow Chemical Company Employees’ Savings Plan, up to a maximum of $300,000.

The PPA Component

Joint and Survivor Options (50% and 100%) - Allows a departing employee the opportunity to designate a survivor to receive an ongoing benefit in the event of his or her death.

Insurance Agreements In December 1985, UCC entered into an agreement (the Agreement) with Prudential Insurance Company of America (Prudential). Under the Agreement, Prudential agreed to issue a group annuity contract (VCA-GA-5298) to provide benefits vested at September 30, 1985, to the participants of the UCRP and the UCEPP (the Continuing Plan) in consideration of a $2.4 billion transfer of assets from the Continuing Plan trust on December 31, 1985. All participants of the Continuing Plan were fully vested in accumulated benefits as of September 30, 1985. Assets transferred under the Agreement were classified as investments in the accompanying statement of net assets available for benefits. VCA-GA-5298 is a participating annuity contract held in an account separate from the general assets of Prudential. Under the Agreement, Union Carbide Corporation (the Employer) is permitted to withdraw funds from VCA-GA-5298 to pay all of the expenses due to Prudential and to transfer assets to the Continuing Plan, unless a withdrawal causes the level of assets to the covered pension benefit obligation to drop below a specified level. If the level drops below 100%, Prudential



11

would establish a reserve in its general asset account, and this reserve would be used to pay benefits, if needed. VCA-GA-5298 is included as plan assets, since the Employer remains subject to risks and rewards. On January 1, 1987, UCC entered into an additional agreement with Prudential. Under the agreement, Prudential agreed to issue a group annuity contract (GA-5633) to provide benefits vested at September 30, 1985 to the participants in the Continuing Plan who retired before January 1, 1986. GA-5633 is a nonparticipating annuity contract held in the general assets of Prudential. In January 1987, approximately $1.2 billion in assets and obligations were transferred from VCA-GA-5298 within the Continuing Plan into GA-5633. Subsequently, GA-5633 became GA-7121. GA-7121 is not part of the Continuing Plan and is not included in the accompanying statement of net assets available for benefits, nor is the obligation for pre-January 1, 1986 retirees included in the actuarial present value of accumulated benefits disclosed in Note 4. Funding Policy UCC’s funding policy is to contribute an amount which will meet or exceed the annual ERISA minimum funding requirement. UCC’s contributions to the Plan are based upon actuarial calculations of amounts required to provide benefits in accordance with the Plan’s provisions. UCC met the minimum funding requirements of ERISA for the years ended December 31, 2018 and 2017. Contributions UCC maintains a funding standard account with annual contributions to the Plan determined on an actuarial basis, but in no instance below the minimum required by Section 412 of the Internal Revenue Code of 1986, as amended (the Code). All contributions to the Plan are made by UCC. No voluntary employee contributions are allowed, other than repayment of prior distributions upon rehiring employees. Party-in-Interest Transactions Administrative expenses of the trustee are charged to the Plan. The net assets of the Plan are held by Northern Trust Company, who acts as independent trustee and custodian for all the investments in the Plan. Northern Trust Company manages certain plan investments; therefore, these transactions qualify as party-in-interest transactions. The Plans paid certain expenses related to plan operations and investment activity to various service providers and the Plan Sponsor. These transactions are party-in-interest transactions under ERISA. 2. Summary of Significant Accounting Policies Basis of Accounting The accompanying financial statements are prepared on the accrual basis of accounting. Subsequent Events The financial statements and related disclosures include evaluation of events up through and including October 14, 2019, which is the date the financial statements were available to be issued.



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Investment Valuation and Income Recognition The Plan’s investments, including the Plan’s interest in the Dow Retirement Group Trust (the Group Trust) are reported at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Plan’s Investment Committee determines the Plan’s valuation policies utilizing information provided by its investment advisers, custodians, and plan trustee. See note 8 for a discussion of fair value measurements. For investments in certain money market funds, 103-12 investment entities and pooled separate accounts the fair value of the investment held is estimated based on the net asset value per share (or its equivalent) of the investments plus/minus market valuation adjustments. The fair value of real estate investments, principally rental property subject to long-term leases, has been estimated on the basis of future rental receipts and estimated residual values discounted at interest rates commensurate with the risks involved. The government securities, common and preferred stock, and corporate debt securities are valued using quoted market prices and/or other market data for the same or comparable instruments and transactions in establishing the prices, discounted cash flow models, and other pricing models. These models are primarily industry-standard models that consider various assumptions, including time value and yield curve, as well as other relevant economic measures. The common and collective trusts, registered investment companies, and certain 103-12 investment entities are valued using published prices that are the basis for current transactions. In 2017, management changed the valuation methodology for certain 103-12 investment entities, common and collective trusts, registered investment companies, and other investments. Management determined these valuations are representative of quoted prices in an active market. Cash equivalents, consisting primarily of interest-bearing cash accounts, and certain money market funds are valued at their outstanding balances, which approximate fair value. Partnerships and joint ventures are valued at net asset value per share, based on their appraised values or proportionate share of the estimated fair value, as recorded in the investment’s audited financial statements, with adjustments to account for partnership activity and other applicable valuation adjustments. Exchange-traded derivatives for which market quotations are readily available are valued at the last reported sale price or official closing price and categorized as Level 1. Over-the-counter derivatives are typically valued by independent pricing services and categorized as Level 2. In some cases, Level 2 derivatives are valued utilizing publicly available pricing data of contracts with similar terms. In other cases, the derivatives are valued using current spot market data adjusted for the appropriate current forward curves provided by external financial institutions. Level 3 derivatives are typically priced by dealers and pricing services that use proprietary pricing models which incorporate unobservable inputs, including extrapolated or model-derived assumptions, such as volatilities and yield and credit spread assumptions. All other investments are valued based on quoted market prices. See Notes 8 and 9 for additional information. Income from investments is recognized on an accrual basis. Dividends are recorded on the ex-dividend date. Purchases and sales of securities are recorded on a trade-date basis. Net appreciation (depreciation) includes the Plan’s gains and losses on investments bought and sold as well as held during the year.



13

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. Purchase of Annuity Contract On December 22, 2017, the Plan purchased an annuity contract to settle the benefit obligations for approximately 80 retirees currently receiving annuity payments. The purchase price of the annuity contract was $475,851 and is reported in the accompanying statement of changes in net assets available for benefits for the year ended December 31, 2017. The annuity contract is excluded from Plan assets. Contributions Receivable The Plan’s policy is to record a contribution receivable at year-end for any contribution to be made prior to September 15 of the subsequent year that applies to the current year. The Plan recorded $40.0 million of contributions receivable at December 31, 2017. There was no contribution receivable to the Plan at December 31, 2018. Benefit Payments Benefit payments to participants are recorded upon distribution. Administrative Expenses All eligible costs associated with the Plan, such as investment management fees, transfer fees, and maintenance of accounting records of the Plan, are borne by the Plan. Certain expenses incurred in connection with the general administration of the Plan that are paid by the Plan are recorded as deductions in the accompanying statements of changes in net assets available for benefits. In addition, certain investment related expenses are included in net appreciation (depreciation) of fair value of investments presented in the accompanying statements of changes in net assets available for benefits. Plan Transfers The Plan has transfers that relate to Plan participants who have transferred from the Plan into participating plans of the Corporation’s affiliates. The Plan has a net payable of $37.2 million and $6.8 million for transfers to Dow Employees’ Pension Plan (a participating plan of the Corporation’s affiliates) from the Plan at December 31, 2018 and 2017, respectively. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of net assets available for benefits, the actuarial present value of accumulated plan benefits, and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of changes in net assets available for benefits and changes in actuarial present value of accumulated plan benefits during the reporting period. Actual results could differ from those estimates.



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Risks and Uncertainties Contributions to the Plan and the actuarial present value of accumulated plan benefits are reported based on certain assumptions pertaining to interest rates, inflation rates, and demographics. Due to the changing nature of these assumptions, it is at least reasonably possible that changes in these assumptions will occur in the near term and, due to the uncertainties inherent in setting assumptions, that the effect of such changes could be material to the financial statements. The Plan has significant exposure to interest rates. As interest rates fluctuate, the Plan’s present value of accumulated plan benefits changes. In order to mitigate this risk, the Plan invests in debt securities, including government securities and corporate debt instruments. The Plan also invests in risk seeking assets, such as equity instruments, private equity, and real estate. Investment securities, in general, are exposed to various risks, such as price, credit, and overall market volatility. Additionally, the Plan invests in absolute return strategies and engages in interest rate risk management overlay transactions through interest rate derivatives. Due to the level of risk associated with investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the statements of net assets available for benefits. Recent Accounting Pronouncement In February 2017, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2017-06, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), and Health and Welfare Benefit Plans (Topic 965) - Employee Benefit Plan Master Trust Reporting. ASU No. 2017-06 amends the master trust disclosure to require additional disclosures related to the Plan’s interest in the Group Trust. This ASU is effective for fiscal years beginning after December 15, 2018 and is required to be applied retrospectively for all comparative periods presented. Management does not expect the adoption of this ASU to have a significant impact on the Plan’s financial statements. 3. Certification of Information from Plan Trustee The Plan Administrator has elected the method of annual reporting compliance permitted by 29 CFR 2520.103-8 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under ERISA. Accordingly, The Northern Trust Company, the trustee, has certified that certain investment information included in the accompanying financial statements and supplemental schedules is complete and accurate. The Trustee holds the Plan’s investments and executed all investment transactions as of and for the years ended December 31, 2018 and 2017. The investment balances and related investment results in the accompanying financial statements, including the Group Trust information in Note 9, Supplemental Schedule of Assets (Held at End of Year), and Schedule of Reportable Transactions are obtained and derived from information provided by the Trustee. The Plan’s independent auditors did not perform auditing procedures with respect to this information, except for comparing such information to the related information included in the financial statements. 4. Accumulated Plan Benefits Accumulated plan benefits are those estimated future periodic payments, including lump-sum distributions, that are attributable under the Plan’s provisions for services rendered by the employees to the valuation date effective for plan year ended December 31 (specifically January 1,



15

2018, the beginning of the year). Accumulated plan benefits include benefits expected to be paid to (a) retired or terminated employees or their beneficiaries, and (b) present employees or their beneficiaries. Benefits payable under all circumstances (retirement, death, disability, and termination of employment) are included, to the extent they are deemed attributable to employee service rendered to the valuation date. The actuarial present value of accumulated plan benefits is determined by an independent actuary and is the amount that results from applying actuarial assumptions to adjust the accumulated plan benefits earned by the participants to reflect the time value of money (through discounts for interest) and the probability of payment (by means of decrements, such as for death, disability, withdrawal (or early retirement) between the valuation date and the expected date of payment. The actuarial method in use is the traditional unit credit cost method. The actuarial present value of accumulated plan benefits at December 31, 2017 is as follows: Actuarial present value of accumulated plan benefits: Vested benefits: Participants currently receiving benefit payments $ 2,249,096,452 Other vested participants 782,750,489 Total vested benefits 3,031,846,941 Non-vested benefits 917,275 Total Actuarial Present Value of Accumulated Plan Benefits $ 3,032,764,216 A summary of significant changes in the actuarial present value of accumulated plan benefits for the year ended December 31, 2017 is as follows: Actuarial Present Value of Accumulated Plan Benefits, beginning of year $ 3,066,988,634 Increase (decrease) during the year attributable to: Benefits accumulated 11,034,919 Actuarial losses 14,591,858 Decrease in the discount period 200,453,502 Actual benefits paid (260,355,881) Plan amendments 51,184 Net decrease (34,224,418) Actuarial Present Value of Accumulated Plan Benefits, end of year $ 3,032,764,216 The change in plan amendments relates to a change in the definition of compensation to include elective deferrals.



16

A summary of the significant assumptions and methods underlying the computation of the actuarial present value of accumulated plan benefits as of December 31, 2017 and 2016 is as follows:

Mortality- RP-2014 tables with a modified version of the MP-2014 generational scale are used, where the modifications are (1) a 15-year convergence to the long-term improvement rates, and (2) long-term improvement rates in accordance with the 2014 Social Security Administration Trustees’ Report of intermediate alternative rates.

Retirement Ages - Retirement ages are based on a graded schedule, with everyone age 65

and over assumed to retire immediately.

Discount Rate - The assumed discount rate is 6.8%.

Disability - Rates of disability were based on 50% of rates observed in a 1977 Social Security study.

The actuarial assumptions are based on the presumption that the Plan will continue. Were the Plan to terminate, different actuarial assumptions and other factors might be applicable in determining the actuarial present value of accumulated plan benefits. 5. Plan Termination Although it has not expressed any intention to do so, the plan sponsor has the right to terminate the Plan to the full extent permitted by law. In the event that the Plan is terminated, the net assets of the Plan will be allocated for payment of plan benefits to the participants in an order of priority determined in accordance with ERISA, applicable regulations thereunder, and the plan document. Certain benefits under the Plan are insured by the Pension Benefit Guaranty Corporation (PBGC) if the Plan terminates. Certain other benefits are insured by Prudential, as stated in Note 1. Generally, the PBGC guarantees most vested normal age retirement benefits, early retirement benefits, and certain disability and survivor’s pensions. However, the PBGC does not guarantee all types of benefits under the Plan, and the amount of benefit protection is subject to certain limitations. Vested benefits under the Plan are guaranteed at the level in effect on the date of the Plan’s termination, subject to a statutory ceiling on the amount of an individual’s monthly benefit. Whether all participants receive their benefits, should the Plan be terminated at some future time, will depend on the sufficiency, at that time, of the Plan’s net assets available to provide those benefits, the priority of those benefits to be paid, and the level and type of benefits guaranteed by the PBGC at that time. Some benefits may be fully or partially provided by the then-existing assets and the PBGC guarantee, while other benefits may not be provided for at all. 6. Tax Status The Plan has received a determination letter from the Internal Revenue Service indicating that the Plan, as designed, is qualified for tax-exempt treatment under the applicable section of the Internal Revenue Code (IRC). Although the Plan has been amended and restated since receiving the determination letter, management believes that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC.



17

Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain tax position that more likely than not would not be sustained upon examination by the IRS. The Plan is subject to routine audits by taxing jurisdictions; however, there currently are no audits for any tax periods in progress. 7. Derivative Financial Instruments The Plan is party to certain agreements, which are designed to manage exposures to foreign exchange, interest rate, equities, and inflation risks. The foreign exchange, commodity, equity, and interest rate contracts are used for the purpose of hedging changes in the fair value of assets and the actuarial present value of accumulated plan benefits that result from interest rate changes and currency fluctuations, or as an efficient substitute for traditional securities. In connection with certain derivative instrument agreements, the Plan receives both cash and non-cash collateral as security to mitigate the risk of counterparties not meeting obligations under the terms of the agreements. The net assets of the Plan reflect, as an asset, the cash collateral received under the derivative instrument agreements as well as an offsetting liability representing the Plan’s obligation to return the collateral to the counterparty. There were approximately $25 million and $31 million of cash collateral held related to the derivative instrument agreements as of December 31, 2018 and 2017, respectively. The non-cash collateral received is not reflected in the net assets of the Plan, as the Plan does not sell or pledge the non-cash collateral. Any gains or losses recognized on derivatives are recognized in current year investment income. The following are the estimated fair values of derivative instruments at December 31, 2018 and 2017 shown at the gross amounts: Asset Derivatives Liability Derivatives 2018 2017 2018 2017 Commodity contracts $ - $ 3,324,249 $ 1,679,025 $ - Equity contracts 7,604,270 67,336 10,021,308 10,876,353 Foreign exchange contracts - 6,060 - 313,483 Interest rate contracts 51,279,976 3,114,932 35,094,461 21,304,211 Total Derivatives $ 58,884,246 $ 6,512,577 $ 46,794,794 $ 32,494,047

The remainder of this page intentionally left blank.



18

The Plan has elected to present certain derivative assets or liabilities on the statements of net assets available for benefits on a net basis because a right of offset with another financial instrument subject to an enforceable master netting agreement exists for the derivative instrument. The gross amounts of these derivatives and the related offsetting amounts are as follows:

December 31, 2018

Gross Amountsof Recognized

Assets

Gross AmountsOffset in the

Statement of NetAssets Available

For Benefits

Net Amounts of Assets

Presented on the Statement

of Net Assets Available For

Benefits

Gross Amounts Not Offset on

the Statement of Net Assets Available For

Benefits –Collateral Received

Net Amount

Equity contracts $ 7,604,270 $ (7,604,270) $ - $ - $ -

Interest rate contracts 48,527,943 (32,457,141) 16,070,802 (16,070,802) - Total derivatives not subject to a master netting arrangement or similar arrangement 2,752,033 - 2,752,033 - 2,752,033

Total Derivatives $ 58,884,246 $ (40,061,411) $ 18,822,835 $ (16,070,802) $ 2,752,033

December 31, 2018


Liabilities



For Benefits

Net Amounts of Liabilities Presented on


Benefits



Benefits –Collateral

PledgedNet

Amount

Commodity contract $ 1,679,025 $ - $ 1,679,025 $ (1,679,025) $ - Equity contracts 10,021,308 (7,604,270) 2,417,038 (2,417,038) - Interest rate contracts 32,457,141 (32,457,141) - - - Total derivatives not subject to a master netting arrangement or similar arrangement 2,637,320 - 2,637,320 - 2,637,320





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December 31, 2017


Assets



For Benefits

Net Amounts of Assets

Presented on the Statement

of Net Assets Available For

Benefits



Benefits –Collateral Received

Net Amount

Commodity contracts $ 3,324,249 $ - $ 3,324,249 $ (2,000,000) $ 1,324,249 Equity contracts 67,336 (67,336) - - - Foreign exchange contracts 6,060 (6,060) - - - Interest rate contracts 2,445,113 (2,445,113) - - - Total derivatives not subject to a master netting arrangement or similar arrangement 669,819 - 669,819 - 669,819


December 31, 2017


Liabilities



For Benefits

Net Amounts of Liabilities Presented on


Benefits



Benefits –Collateral

PledgedNet

Amount Equity contracts $ 10,876,353 $ (67,336) $ 10,809,017 $ - $10,809,017 Foreign exchange contracts 313,483 (6,060) 307,423 - 307,423 Interest rate contracts 14,640,444 (2,445,113) 12,195,331 - 12,195,331 Total derivatives not subject to a master netting arrangement or similar arrangement s 6,663,767 - 6,663,767 - 6,663,767

Total Derivatives $ 32,494,047 $ (2,518,509) $ 29,975,538 $ - $29,975,538

The Plan enters into agreements with counterparties that provide the Plan, in the event of a counterparty default (such as bankruptcy or a counterparty’s failure to pay or perform,) with the right to net a counterparty’s rights and obligations under such agreement and liquidate and set off collateral held by the Plan against the net amount owed by the counterparty. Asset and liability derivatives are included in investments at fair value on the statements of net assets available for benefits. The notional amount represents the contract amount, not the amount at risk. The notional amount of the contracts was approximately $5.5 billion and $5.7 billion at December 31, 2018 and 2017, respectively. The investment fiduciaries, on behalf of the Plan, manage its foreign currency and interest rate counterparty credit risks by limiting exposure to and by monitoring the financial condition of each



20

counterparty. In the unlikely event that a counterparty fails to meet the terms of a foreign currency or an interest rate instrument, the Plan’s risk is limited to the fair value of the instrument, offset by the value of any collateral held. For the years ended December 31, 2018 and 2017, the amount of gain or loss recognized as investment income in the statement of changes in net assets available for benefits attributable to derivative instruments is as follows: Year ended December 31, 2018 2017 Commodity contracts $ 1,186,371 $ 5,006,619 Equity contracts (2,174,650) 12,860,667 Foreign exchange contracts 1,576,147 (2,143,406) Interest rate contracts 5,807,884 3,667,548 Total Gain $ 6,395,752 $ 19,391,428 8. Fair Value Measurements Accounting standards require certain assets and liabilities be reported at fair value in the financial statements and provide a framework for establishing that fair value. The framework for determining fair value is based on a hierarchy that prioritizes the valuation techniques and inputs used to measure fair value. The tables below present information about the Plan’s assets measured at fair value on a recurring basis at December 31, 2018 and 2017 and the valuation techniques used by the Plan to determine those fair values. See Note 9 for the Group Trust fair value measurements. Level 1 - Fair values determined by Level 1 inputs use quoted and/or published prices in active markets for identical assets that the Plan has the ability to access. Level 2 - Fair values determined by Level 2 inputs use other inputs that are observable, either directly or indirectly. These Level 2 inputs include quoted prices for similar assets in active markets and other inputs, such as interest rates and yield curves, that are observable at commonly quoted intervals. Level 3 - Unobservable inputs, including inputs that are available in situations where there is little, if any, market activity for the related asset. These Level 3 fair value measurements are based primarily on management’s own estimates using pricing models, discounted cash flow methodologies, or similar techniques taking into account the characteristics of the asset. Significant Level 3 inputs include appraisals, audited financial statements, redemption restrictions, net asset value market adjustments, and projected future cash flows, as described in Note 2. In instances whereby inputs used to measure fair value fall into different levels in the above fair value hierarchy, fair value measurements in their entirety are categorized based on the lowest level input that is significant to the valuation. The Plan’s assessment of the significance of particular inputs to these fair value measurements requires judgment and considers factors specific to each asset.



21

Certain assets are held in funds where fair value is based on an estimated net asset value per share (or its equivalent) as of the most recently available fund financial statements which are received on a monthly or quarterly basis. These valuations are reviewed for reasonableness based on applicable sector, benchmark and company performance. Adjustments to valuations are made where appropriate to arrive at an estimated net asset value per share at the measurement date. These funds are not classified within the fair value hierarchy, however are presented below to permit reconciliation of the fair value hierarchy to the amounts presented in the statements of net assets available for benefits. Assets measured at fair value on a recurring basis as of December 31, 2018 and 2017 are as follows: December 31, 2018 Total Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 172,490,458 $ 172,490,458 $ - $ - Government securities 796,963,786 - 796,963,786 - Common and preferred stock 360,471 360,471 - - Corporate debt securities 426,617,592 - 426,617,592 - Value of interest in partnerships and joint ventures 7,659,811 7,659,811 - - Other investments, including derivatives 12,131,890 490 12,089,452 41,948 Total 1,416,224,008 $ 180,511,230 $ 1,235,670,830 $ 41,948 Investments measured at net asset value: Value of interest in partnerships and joint ventures 373,143,583 Real estate 67,715,289 Total investments measured at net asset value 440,858,872 Total Investments at Fair Value $ 1,857,082,880 December 31, 2017 Total Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 162,740,360 $ 162,740,360 $ - $ - Government securities 861,117,556 - 861,117,556 - Common and preferred stock 13,756,951 13,756,951 - - Corporate debt securities 522,391,579 - 522,391,579 - Other investments, including derivatives (25,829,439) 152,030 (25,981,469) - Total 1,534,177,077 $ 176,649,341 $ 1,357,527,666 $ - Investments measured at net asset value: Value of interest in partnerships and joint ventures 318,098,524 Real estate 76,542,789 Other investments 4,900,562 Total investments measured at net asset value 399,541,875 Total Investments at Fair Value $ 1,933,718,882

Other investments include derivatives of approximately $12.1 million and $(25.9) million as of December 31, 2018 and 2017, respectively.



22

Changes in Level 3 assets measured at fair value on a recurring basis for the years ended December 31, 2018 and 2017 are as follows:

Other Investments,

Including Derivatives Total

Balance, January 1, 2018 $ - $ - Attributable to assets held at December 31, 2018 (unrealized gain) 41,948 41,948 Attributable to assets sold (realized gain) Proceeds from sales and settlements (586,525) (586,525) Purchases and issuances 586,525 586,525 Balance, December 31, 2018 $ 41,948 $ 41,948

Value of Interestin Partnerships

and JointVentures Real Estate

Other Investments,


Balance at January 1, 2017, as previously reported $ 339,893,689 $ 72,503,361 $ 3,672,600 $ 416,069,650 Reclassification of investments measured at net asset value (339,893,689) (72,503,361) (3,672,600) (416,069,650) Balance, January 1, 2017, restated $ - $ - $ - $ -

Both observable and unobservable inputs may be used to determine the fair value of positions classified as Level 3 assets and liabilities. As a result, the unrealized gains and losses for these assets and liabilities presented in the tables above may include changes in fair value that were attributable to both observable and unobservable inputs. The Plan’s policy is to recognize transfers between levels of the fair value classifications as of the actual date of the event of change in circumstances that caused the transfer. There were no transfers between levels of the fair value hierarchy during 2018 and 2017, except certain reclassifications of investments measured at net asset value (or its equivalent) as disclosed above. The Plan holds $441 million and $400 million at December 31, 2018 and 2017, respectively, of investments whereby the fair value of the investment held is estimated based on the net asset value per share (or its equivalent) of the investment company plus/minus market valuation adjustments. There were no significant redemption restrictions or redemption notification requirements related to these investments. The Plan had unfunded commitments related to real estate investments of $60.0 million and $93.8 million as of December 31, 2018 and 2017, respectively, and unfunded commitments related to the investments in partnerships and joint ventures of $85.1 million and $85.2 million as of December 31, 2018 and 2017, respectively.



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9. Interest in Group Trust The Plan invests in the Group Trust, which was established for the investment of assets of ERISA qualified, defined benefit pension plans of the Dow Chemical Company or its subsidiaries. The Group Trust investors are the Dow Employees’ Pension Plan (DEPP) and Union Carbide Employees’ Pension Plan (UCEPP). The assets of the Group Trust are held by The Northern Trust Company. The Group Trust consists of 23 underlying Dow Retirement Group Trust Investment Accounts which invest in various strategies. Investment income and administrative expenses relating to the Group Trust are allocated to the individual plans based upon the daily balances invested by each plan in various Dow Retirement Group Trust Investment Accounts. At December 31, 2018, the participating Plans’ respective interests in the Dow Retirement Group Trust Investment Accounts were as follows:

Description Dow Employees’

Pension Plan

Union Carbide Employees’

Pension Plan Total Tactical Fixed Income 99.89% 0.11% 100.00% US Long Gov/Cred Fixed Income 100.00 0.00 100.00 Convertibles 100.00 0.00 100.00 US Large Cap Equity 92.61 7.39 100.00 US Large Cap Equity (Passive) 98.29 1.71 100.00 US SM/Mid Cap Equity 78.09 21.91 100.00 US SM/Mid Cap Equity (Passive) 0.00 0.00 0.00 International Developed Equity 93.37 6.63 100.00 Global Equity 83.22 16.78 100.00 Emerging Market Equity 84.63 15.37 100.00 Emerging Market Equity (Passive) 88.81 11.19 100.00 Absolute Return 81.48 18.52 100.00 Opportunistic Fl 83.67 16.33 100.00 Legacy RH Infrastructure 100.00 0.00 100.00 Real Estate Core OE Funds 85.25 14.75 100.00 Real Estate Non-Core OE Funds 100.00 0.00 100.00 Real Estate REIT 80.25 19.75 100.00 Infrastructure & Real Asset Public 89.56 10.44 100.00 RE LP 2012 0.00 0.00 0.00 PE 2012 0.00 0.00 0.00 Reinsurance 82.03 17.97 100.00 International Small Cap 73.99 26.01 100.00




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At December 31, 2017, the participating Plans’ respective interests in the Dow Retirement Group Trust Investment Accounts were as follows:

Description Dow Employees’

Pension Plan

Union Carbide Employees’

Pension Plan Total Tactical Fixed Income 100.00% 0.00% 100.00% US Long Gov/Cred Fixed Income 100.00 0.00 100.00 Convertibles 100.00 0.00 100.00 US Large Cap Equity 92.61 7.39 100.00 US Large Cap Equity (Passive) 100.00 0.00 100.00 US SM/Mid Cap Equity 76.31 23.69 100.00 US SM/Mid Cap Equity (Passive) 0.00 0.00 0.00 International Developed Equity 93.12 6.88 100.00 Global Equity 79.34 20.66 100.00 Emerging Market Equity 83.89 16.11 100.00 Emerging Market Equity (Passive) 0.00 0.00 0.00 Absolute Return 80.46 19.54 100.00 Opportunistic Fl 84.04 15.96 100.00 Legacy RH Infrastructure 100.00 0.00 100.00 Real Estate Core OE Funds 85.25 14.75 100.00 Real Estate Non-Core OE Funds 100.00 0.00 100.00 Real Estate REIT 80.25 19.75 100.00 Infrastructure & Real Asset Public 89.55 10.45 100.00 RE LP 2012 0.00 0.00 0.00 PE 2012 0.00 0.00 0.00 Reinsurance 79.35 20.65 100.00 International Small Cap 73.99 26.01 100.00

The cash and Securities Lending Dow Retirement Group Trust Investment Account is owned directly by the Group Trust, and the beneficial interest is allocated on a pro rate share based on the ownership of the respective Dow Retirement Group Trust Investment Accounts. Fair Value Measurements Fair Value Measurements - Accounting standards require certain assets and liabilities be reported at fair value in the financial statements and provide a framework for establishing that fair value. The framework for determining fair value is based on a hierarchy that prioritizes the inputs and valuation techniques used to measure fair value. The following represents the valuation techniques used by the Group Trust to determine those fair values. Level 1 - Fair values determined by Level 1 inputs use quoted and/or published prices in active markets for identical assets that the Group Trust has the ability to access.



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Level 2 - Fair values determined by Level 2 inputs use other inputs that are observable, either directly or indirectly. These Level 2 inputs include quoted prices for similar assets in active markets, and other inputs such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 - Level 3 inputs are unobservable inputs, including inputs that are available in situations where there is little, if any, market activity for the related asset. These Level 3 fair value measurements are based primarily on management’s own estimates using pricing models, discounted cash flow methodologies, or similar techniques taking into account the characteristics of the asset. Significant Level 3 inputs include appraisals, audited financial statements, redemption restrictions, and projected future cash flows, as described in Note 2. In instances whereby inputs used to measure fair value fall into different levels in the above fair value hierarchy, fair value measurements in their entirety are categorized based on the lowest level input that is significant to the valuation. The Group Trust’s assessment of the significance of particular inputs to these fair value measurements requires judgment and considers factors specific to each asset. Certain pension plan assets are held in funds where fair value is based on an estimated net asset value per share (or its equivalent) as of the most recently available fund financial statements which are received on a monthly or quarterly basis. These valuations are reviewed for reasonableness based on applicable sector, benchmark and company performance. Adjustments to valuations are made where appropriate to arrive at an estimated net asset value per share at the measurement date. These funds are not classified within the fair value hierarchy, however are presented below to permit reconciliation of the fair value hierarchy to the amounts presented in the statements of net assets available for benefits. The following tables present detail of the Group Trust net assets and liabilities including assets and liabilities measured at fair value on a recurring basis as of December 31, 2018: Dow Retirement Group Trust – Tactical Fixed Income

December 31, 2018 Group Trust

Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 21,421,128 $ 19,011,191 $ 2,409,937 $ - Corporate debt securities 490,532,844 - 490,404,058 128,786 Common and preferred stock 292,352 247,549 7,159 37,644 Government securities 671,776,698 - 671,776,098 600 Value of interest in common collective trusts 452,745,652 189,448,937 263,296,715 - Other investments, including derivatives (138,854) (555,415) 416,561 - Total Tactical Fixed Income Investments 1,636,629,820 $ 208,152,262 $ 1,428,310,528 $ 167,030 Other assets (liabilities): Non-interest bearing cash 189,575 Accrued and other income 9,530,447 Pending trade sales 6,156,749 Pending trade purchases (80,351,880) Other liabilities (405,989) Total Tactical Fixed Income Net Assets $ 1,571,748,722



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Dow Retirement Group Trust – US Long Gov/Cred Fixed Income


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 12,415,283 $ 12,415,283 $ - $ - Corporate debt securities 592,126,453 - 592,126,453 - Government securities 584,413,232 - 584,413,232 - Value of interest in common collective trusts 149,330,446 - 149,330,446 - Value of interest in registered investment companies 193,876,579 - 193,876,579 - Other investments, including derivatives 868,299 255,872 612,427 - Total US Long Gov/Cred Fixed Income Investments 1,533,030,292 $ 12,671,155 $ 1,520,359,137 $ - Other assets (liabilities): Non-interest bearing cash 735,901 Accrued and other income 12,694,332 Pending trade sales 8,080,872 Pending trade purchases (32,689,742) Other liabilities (828,674) Total US Long Gov/Cred Fixed Income Net Assets $ 1,521,022,981

Dow Retirement Group Trust – Convertibles


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 16,648,125 $ 16,648,125 $ - $ - Corporate debt securities 201,652,636 - 201,652,636 - Common and preferred stock 32,297,522 29,181,451 3,116,071 - Total Convertibles Investments 250,598,283 $ 45,829,576 $ 204,768,707 $ - Other assets and (liabilities): Accrued and other income 951,153 Pending trade sales 846,803 Pending trade purchases (1,356,850) Other liabilities (629,316) Total Convertibles Net Assets $ 250,410,073

Dow Retirement Group Trust – US Large Cap Equity


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 16,076,425 $ 16,076,425 $ - $ - Common and preferred stock 939,097,152 939,097,152 - - Partnership and joint venture interests 240,141 240,141 - - Value of interest in registered investment companies 63,771,530 63,771,530 - - Value of interest in common collective trusts 173,992,805 173,992,805 - - Total US Large Cap Equity Investments 1,193,178,053 $ 1,193,178,053 $ - $ -

Other assets and (liabilities): Accrued and other income 1,215,648 Pending trade sales 2,384,257 Pending trade purchases (1,744,907) Other liabilities (1,534,583) Total US Large Cap Equity Net Assets $ 1,193,498,468



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Dow Retirement Group Trust – US Large Cap Equity (Passive)


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 417,499 $ 417,499 $ - $ - Value of interest in registered investment companies 424,405,174 424,405,174 - - Value of interest in common collective trusts 240,036,107 240,036,107 - - Total US Large Cap Equity (Passive) Investments 664,858,780 $ 664,858,780 $ - $ -

Other assets and (liabilities): Accrued and other income 131,868 Total US Large Cap Equity (Passive) Net Assets $ 664,990,648

Dow Retirement Group Trust – US SM/Mid Cap Equity


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 19,392,692 $ 19,392,692 $ - $ - Common and preferred stock 551,715,516 550,418,958 301,783 994,775 Value of interest in common collective trusts 8,700,282 - 8,700,282 - Total US SM/Mid Cap Equity Investments 579,808,490 $ 569,811,650 $ 9,002,065 $ 994,775 Other assets and (liabilities): Accrued and other income 864,748 Pending trade sales 1,365,168 Pending trade purchases (2,785,682) Other liabilities (2,151,657) Total US SM/Mid Cap Equity Net Assets $ 577,101,067

Dow Retirement Group Trust – International Developed Equity


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 34,064,445 $ 34,064,445 $ - $ - Common and preferred stock 1,090,075,907 1,087,864,711 2,211,196 - Value of interest in common collective trusts 199,184,122 199,184,122 - - Value of interest in registered investment companies 1,079,054 1,079,054 - - Other investments, including derivatives 150,760 150,760 - - Total International Developed Equity Investments 1,324,554,288 $ 1,322,343,092 $ 2,211,196 $ - Other assets and (liabilities): Non-interest bearing cash 3,132,881 Accrued and other income 8,258,408 Pending trade sales 3,663,368 Pending trade purchases (1,692,685) Other liabilities (1,160,877) Total International Developed Equity Net Assets $ 1,336,755,383



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Dow Retirement Group Trust – Global Equity


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 23,649,361 $ 23,649,361 $ - $ - Common and preferred stock 457,693,712 457,693,712 - - Value of interest in common collective trusts 224,532,842 224,532,842 - - Total Global Equity Investments 705,875,915 $ 705,875,915 $ - $ -

Other assets and (liabilities): Non-interest bearing cash 365,383 Accrued and other income 2,948,510 Other liabilities (882,816) Total Global Equity Net Assets $ 708,306,992

Dow Retirement Group Trust – Emerging Market Equity


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 207,762 $ 207,762 $ - $ - Common and preferred stock 419,341,341 306,948,720 112,369,937 22,684 Partnership and joint venture interests 213,265,161 - 188,868,843 24,396,318 Value of interest in registered investment companies 137,519,050 137,519,050 - - Other investments, including derivatives 577,071 - - 577,071 Total Emerging Market Equity Investments 770,910,385 $ 444,675,532 $ 301,238,780 $ 24,996,073 Investments measured at net asset value: Partnership and joint venture interests 72,020 Other assets and (liabilities): Non-interest bearing cash 1,706,761 Accrued and other income 891,326 Pending trade sales 111,274 Other liabilities (266,727) Total Emerging Markets Equity Net Assets $ 773,425,039

Dow Retirement Group Trust – Emerging Market Equity (Passive)


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 331 $ 331 $ - $ - Value of interest in common collective trusts 12,154,929 12,154,929 - - Total Emerging Markets (Passive) investments and Net Assets $ 12,155,260 $ 12,155,260 $ - $ -



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Dow Retirement Group Trust – Absolute Return


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ (862) $ (862) $ - $ - Value of interest in common collective trusts 129,291,753 129,291,753 - - Total Absolute Return Investments 129,290,891 $ 129,290,891 $ - $ - Investments measured at net asset value: Cash equivalents and money market funds 584,467,307 Partnership and joint venture interests 637,224,273 Total investments measured at net asset value 1,221,691,580 Total Absolute Return Net Assets $ 1,350,982,471 Dow Retirement Group Trust – Opportunistic Fl


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ - $ - $ - $ - Total Opportunistic Fl Investments - $ - $ - $ -

Investments measured at net asset value: Partnership and joint venture interests 843,408,701 Total Opportunistic Fl Net Assets $ 843,408,701

Dow Retirement Group Trust – Legacy RH Infrastructure


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ - $ - $ - $ - Total Legacy RH Infrastructure Investments - $ - $ - $ -

Investments measured at net asset value: Partnership and joint venture interests 56,915,285 Total Legacy RH Infrastructure Net Assets $ 56,915,285

Dow Retirement Group Trust – Real Estate Core OE Funds


Balance Level 1 Level 2 Level 3 Other investments, including derivatives $ 795 $ 795 $ - $ - Total Real Estate Core OE Funds Investments 795 $ 795 $ - $ -

Investments measured at net asset value: Pooled separate accounts 464,722,808 Total Real Estate Core OE Funds Net Assets $ 464,723,603



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Dow Retirement Group Trust – Real Estate Non-Core OE Funds


Balance Level 1 Level 2 Level 3 Other investments, including derivatives $ 853 $ 853 $ - $ - Total Real Estate Non-Core OE Funds Investments 853 $ 853 $ - $ - Investments measured at net asset value: Pooled separate accounts 108,463,487 Total Real Estate Non-Core OE Funds Net Assets $ 108,464,340

Dow Retirement Group Trust – Real Estate REIT


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 2,820,694 $ 2,820,694 $ - $ - Common and preferred stock 48,788,156 48,702,938 85,218 - Corporate debt securities 2,194,513 - 2,194,513 - Total Real Estate REIT Investments 53,803,363 $ 51,523,632 $ 2,279,731 $ - Other assets and (liabilities): Non-interest bearing cash (2) Accrued and other income 417,978 Pending trade sales 387,567 Pending trade purchases (857,429) Other liabilities (1,100) Total Real Estate REIT Net Assets $ 53,750,377

Dow Retirement Group Trust – Infrastructure & Real Asset Public


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 2 $ 2 $ - $ - Other investments, including derivatives 15,132,960 15,132,960 - - Total Infrastructure & Real Asset Public Investments 15,132,962 $ 15,132,962 $ - $ -

Other Assets and (liabilities): Accrued and other income 1,163 Total Infrastructure & Real Asset Public Net Assets $ 15,134,125




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Dow Retirement Group Trust - Reinsurance


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 912,619 $ 912,619 $ - $ - Common and preferred stock 12,715,236 - - 12,715,236 Total Reinsurance Investments 13,627,855 $ 912,619 $ - $ 12,715,236

Investments measured at net asset value: Other investments, including derivatives 219,887,220 Partnership and joint venture interests 199,556,976 Total investments measured at net asset value 419,444,196 Total Reinsurance Net Assets $ 433,072,051

Dow Retirement Group Trust – International Small Cap


Balance Level 1 Level 2 Level 3 Value of interest in registered investment companies $ 125,225,868 $ 125,225,868 $ - $ - Total International Small Cap investments and Net Assets $ 125,225,868 $ 125,225,868 $ - $ -

Dow Retirement Group Trust – Cash and Securities Lending


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ (48,406)$ (48,406)$ $ Collateral held under securities lending agreements – cash equivalents 92,379,573 92,379,573 Total Cash and Securities Lending Investments 92,331,167 $ 92,331,167 $ $ Other Accrued and other income 198,573 Obligation under securities lending agreements (92,379,573) Total Cash and Securities Lending Net Assets $ 150,167

December 31, 2018 Total Dow Retirement Group Trust Investments $ 11,687,823,715 Total Dow Retirement Group Trust Net Assets $ 12,061,241,622



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The following tables present detail of the Group Trust net assets and liabilities including assets and liabilities measured at fair value on a recurring basis as of December 31, 2017: Dow Retirement Group Trust – Tactical Fixed Income


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 35,371,549 $ 35,371,549 $ - $ - Corporate debt securities 489,760,843 - 488,595,350 1,165,493 Common and preferred stock 1,059,596 715,548 306,332 37,716 Government securities 676,355,114 - 675,154,029 1,201,085 Value of interest in registered investment companies 104,188,371 104,188,371 - - Other investments, including derivatives 292,993 110,729 182,264 - Total Tactical Fixed Income Investments 1,307,028,466 $ 140,386,197 $ 1,164,237,975 $ 2,404,294

Other assets and (liabilities): Non-interest bearing cash 102,786 Accrued and other income 8,908,938 Pending trade sales 4,628,146 Pending trade purchases (62,919,758) Other liabilities (353,345) Total Tactical Fixed Income Net Assets $ 1,257,395,233



Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 24,060,308 $ 24,060,308 $ - $ - Corporate debt securities 656,047,623 - 655,649,103 398,520 Government Securities 627,576,633 - 627,576,633 - Value of interest in common collective trusts 345,180,963 - 332,787,162 12,393,801 Value of interest in registered investment companies 121,198,669 - 121,198,669 - Other investments, including derivatives 449,501 - 449,501 - Total US Long Gov/Cred Fixed Income Investments 1,774,513,697 $ 24,060,308 $ 1,737,661,068 $ 12,792,321

Other assets and (liabilities): Non-interest bearing cash 624,884 Accrued and other income 11,580,345 Pending trade sales 10,426,912 Pending trade purchases (59,644,370) Other liabilities (689,762) Total US Long Gov/Cred Fixed Income Net Assets $ 1,736,811,706




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Dow Retirement Group Trust – Convertibles


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 7,258,119 $ 7,258,119 $ - $ - Corporate debt securities 212,706,705 - 212,706,705 - Common and preferred stock 33,851,084 28,031,302 5,819,782 - Total Convertibles Investments 253,815,908 $ 35,289,421 $ 218,526,487 $ -

Other assets and (liabilities): Accrued and other income 1,028,149 Pending trade purchases 225,823 Other liabilities (293,107) Total Convertibles Net Assets $ 254,776,773



Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 14,281,059 $ 14,281,059 $ - $ - Common and preferred stock 1,223,877,316 1,223,767,936 - 109,380 Value of interest in registered investment companies 64,661,011 64,661,011 - - Value of interest in common collective trusts 185,672,269 185,672,269 - - Total US Large Cap Equity Investments 1,488,491,655 $ 1,488,382,275 $ - $ 109,380 Other assets and (liabilities): Accrued and other income 1,232,456 Pending trade sales 2,534,959 Pending trade purchases (2,680,137) Other liabilities (955,248) Total US Large Cap Equity Net Assets $ 1,488,623,685

Dow Retirement Group Trust – US Large Cap Equity (Passive)


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 3,384 $ 3,384 $ - $ - Value of interest in registered investment companies 64,446,690 64,446,690 - - Value of interest in common collective trusts 194,782,939 194,782,939 - - Total US Large Cap Equity (Passive) Investments 259,233,013 $ 259,233,013 $ - $ - Other assets and (liabilities): Accrued and other income 326,347 Other liabilities (12,761) Total US Large Cap Equity (Passive) Net Assets $ 259,546,599



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Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 15,833,817 $ 15,833,817 $ - $ - Common and preferred stock 707,573,379 707,512,479 - 60,900 Value of interest in registered investment companies 3,133,623 3,133,623 - - Value of interest in common collective trusts 15,128,908 - 15,128,908 - Total US SM/Mid Cap Equity Investments 741,669,727 $ 726,479,919 $ 15,128,908 $ 60,900 Other assets and (liabilities): Non-interest bearing cash 32 Accrued and other income 787,802 Pending trade sales 805,252 Pending trade purchases (631,813) Other liabilities (1,242,719) Total US SM/Mid Cap Equity Net Assets $ 741,388,281

Dow Retirement Group Trust – International Developed Equity


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 27,821,821 $ 27,821,821 $ - $ - Common and preferred stock 1,378,596,640 1,372,666,658 5,929,982 - Value of interest in 103-12 entity 147,578,324 147,578,324 - - Value of interest in common collective trusts 229,494,336 229,494,336 - - Value of interest in registered investment companies 1,648,381 1,648,381 - - Other investments, including derivatives (117,142) (117,142) - - Total International Developed Equity Investments 1,785,022,360 $ 1,779,092,378 $ 5,929,982 $ - Other assets and (liabilities): Non-interest bearing cash 3,385,825 Accrued and other income 7,360,085 Pending trade sales 256,731 Pending trade purchases (2,478,516) Other liabilities (1,409,288) Total International Developed Equity Net Assets $ 1,792,137,197




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Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 25,266,458 $ 25,266,458 $ - $ - Common and preferred stock 560,329,692 558,517,774 - 1,811,918 Value of interest in common collective trusts 367,496,886 367,496,886 - - Partnership and joint venture interests 1,496,951 1,496,951 - - Other investments, including derivatives (10) (10) - - Total Global Equity Investments 954,589,977 $ 952,778,059 $ - $ 1,811,918 Other assets and (liabilities): Non-interest bearing cash 439,502 Accrued and other income 2,869,060 Other liabilities (834,997) Total Global Equity Net Assets $ 957,063,542



Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 613,602 $ 613,602 $ - $ - Common and preferred stock 361,602,238 359,120,285 2,404,688 77,265 Partnership and joint venture interests 256,643,571 - 220,594,658 36,048,913 Value of interest in 103-12 entity 125,598,418 - 125,598,418 - Value of interest in registered investment companies 265,541,039 265,541,039 - - Other investments, including derivatives 74,688,054 - 74,445,908 242,146 Total Emerging Market Equity Investments 1,084,686,922 $ 625,274,926 $ 423,043,672 $ 36,368,324

Other assets and (liabilities): Non-interest bearing cash 5,771,895 Accrued and other income 678,549 Pending trade sales 8,503 Pending trade purchases (15,352) Other liabilities (273,250) Total Emerging Market Equity Net Assets $ 1,090,857,267



Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 77 $ 77 $ - $ - Value of interest in common collective trusts 134,702,195 - 134,702,195 - Total Absolute Return Investments 134,702,272 $ 77 $ 134,702,195 $ - Investments measured at net asset value: Partnership and joint venture interests 581,475,244 Other investments, including derivatives 402,848,052 Total investments measured at net asset value 984,323,296 Total Absolute Return Net Assets $ 1,119,025,568



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Dow Retirement Group Trust – Opportunistic FI


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 1,191 $ 1,191 $ - $ - Total Opportunistic FI Investments 1,191 $ 1,191 $ - $ - Investments measured at net asset value: Partnership and joint venture interests 664,898,627 Total Opportunistic FI Net Assets $ 664,899,818



Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 59 $ 59 $ - $ - Total Legacy RH Infrastructure Investments 59 $ 59 $ - $ - Investments measured at net asset value: Partnership and joint venture interests 64,052,797 Total Legacy RH Infrastructure Net Assets $ 64,052,856



Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 731 $ 731 $ - $ - Other investments, including derivatives 845,502 845,502 - - Total Real Estate Core OE Funds Investments 846,233 $ 846,233 $ - $ - Investments measured at net asset value: Partnership and joint venture interests 773,467,386 Other assets and (liabilities): Accrued and other income 229 Total Real Estate Core Funds Net Assets $ 774,313,848

Dow Retirement Group Trust – Real Estate Non-Core OE Funds


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 708 $ 708 $ - $ - Other investments, including derivatives 107 107 - - Total Real Estate Non-Core OE Funds Investments 815 $ 815 $ - $ - Investments measured at net asset value: Pooled separate accounts 103,360,176 Total Real Estate Non-Core Funds Net Assets $ 103,360,991



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Dow Retirement Group Trust – Real Estate REIT


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 2,132,594 $ 2,132,594 $ - $ - Corporate debt securities 868,554 - 868,554 - Common and preferred stock 55,089,388 53,201,263 1,888,125 - Total Real Estate REIT Investments 58,090,536 $ 55,333,857 $ 2,756,679 $ - Other assets and (liabilities): Accrued and other income 260,950 Other liabilities (462) Total Real Estate REIT Net Assets $ 58,351,024

Dow Retirement Group Trust – Infrastructure & Real Asset Public


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 223,920 $ 223,920 $ - $ - Common and preferred stock 2,688,433 2,688,433 - - Partnership and joint venture interests 6,268,165 6,268,165 - - Other investments, including derivatives 18,624,660 18,624,660 - - Total Infrastructure & Real Asset Public Investments 27,805,178 $ 27,805,178 $ - $ - Other assets: Accrued and other income 1,180 Total Infrastructure & Real Asset Public Net Assets $ 27,806,358



Balance Level 1 Level 2 Level 3 Common and preferred stock $ 2,023,307 $ - $ - $ 2,023,307 Total Reinsurance Investments 2,023,307 $ - $ - $ 2,023,307

Investments measured at net asset value: Partnerships/joint venture interests 273,620,267 Other investments, including derivatives 100,341,669 Total investments measured at net asset value 373,961,936 Total Reinsurance Net Assets $ 375,985,243

Dow Retirement Group Trust – International Small Cap


Balance Level 1 Level 2 Level 3 Value of interest in registered investment companies $ 163,287,935 $ 163,287,935 $ - $ - Total International Small Cap investments and Net Assets $ 163,287,935 $ 163,287,935 $ - $ -



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Dow Retirement Group Trust – Cash and Securities Lending


Balance Level 1 Level 2 Level 3 Cash equivalents and money market funds $ 16,120 $ 16,120 $ - $ - Collateral held under securities lending agreements – cash equivalents 107,606,711 107,606,711 - - Total Cash and Securities Lending Investments 107,622,831 $ 107,622,831 $ - $ -

Accrued and other income 146,296 Obligation under securities lending agreements (107,606,711) Total Cash and Securities Lending Net Assets $ 162,416


December 31, 2017 Total Dow Retirement Group Trust Investments $ 13,107,496,301 Total Dow Retirement Group Trust Net Assets $ 12,929,846,341



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The following tables set forth a summary of changes in the fair value of the Group Trust Level 3 assets for the year ended December 31, 2018:

Dow Retirement Group Trust – Tactical Fixed Income

Balance at January 1, 2018 1,165,493$ 37,716$ 1,201,085$ -$ -$ -$ -$ 2,404,294$

Attribuatable to assets held at December 31, 2018 (unrealized (loss) gain) (132,886) (72) 898,625 - - - - 765,667

Attribuatable to assets sold (realized loss) (124,402) - - - - - - (124,402)

Sales and settlements (1,588,633) (10,716) (1,846,625) - - - - (3,445,974)

Purchases and issuances 661,492 10,716 - - - - - 672,208

Transfer IN 328,640 - - - - - - 328,640

Transfer OUT (180,918) - (252,485) - - - - (433,403)

Dow Retirement Group Trust- Tactical Fixed Income total balance at

December 31, 2018 128,786$ 37,644$ 600$ -$ -$ -$ -$ 167,030$

Dow Retirement Group Trust – US Long Gov/Cred

Balance at January 1, 2018 398,520$ -$ -$ 12,393,801$ -$ -$ -$ 12,792,321$

Attribuatable to assets held at December 31, 2018 (unrealized loss) - - - (4,576,039) - - - (4,576,039)

Attribuatable to assets sold (realized loss) - - - 4,389,703 - - - 4,389,703

Sales and settlements - - - (12,207,465) - - - (12,207,465)

Purchases and issuances (398,520) - - - - - - (398,520)

Dow Retirement Group Trust- US Long Gov/Cred total balance at

December 31, 2018 -$ -$ -$ -$ -$ -$ -$ -$


Balance at January 1, 2018 -$ 109,380$ -$ -$ -$ -$ -$ 109,380$

Attribuatable to assets held at December 31, 2018 (unrealized gain (loss)) - - - - - - - -

Attribuatable to assets sold (realized loss) - - - - - - - -

Sales and settlements - (109,380) - - - - - (109,380)

Purchases and issuances - - - - - - - -

Dow Retirement Group Trust- US Large Cap Equity total balance at

December 31, 2018 -$ -$ -$ -$ -$ -$ -$ -$

Other Investments


Corporate Debt Securities

Common and Preferred Stock

Government Securities

Value of Interest in

Common Collective

Trusts

Pooled Separate Accounts

Partnerships and Joint Ventures Interest



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Balance at January 1, 2018 -$ 60,900$ -$ -$ -$ -$ -$ 60,900$

Attribuatable to assets held at December 31, 2018 (unrealized gain (loss)) - - - - - - - -



Purchases and issuances - 994,775 - - - - - 994,775

Dow Retirement Group Trust- US SM/Mid Cap Equity total balance at

December 31, 2018 -$ 994,775$ -$ -$ -$ -$ -$ 994,775$


Balance at January 1, 2018 -$ 1,811,918$ -$ -$ -$ -$ -$ 1,811,918$

Attribuatable to assets held at December 31, 2018 (unrealized loss) - (149,198) - - - - - (149,198)


Sales and settlements - (1,662,720) - - - - - (1,662,720)


Dow Retirement Group Trust- Global Equity total balance at

December 31, 2018 -$ -$ -$ -$ -$ -$ -$ -$


Balance at January 1, 2018 -$ 77,265$ -$ -$ -$ 36,048,913$ 242,146$ 36,368,324$

Attribuatable to assets held at December 31, 2018 (unrealized loss) - (35) - - - (843,158) (85,251) (928,444)

Attribuatable to assets sold (realized loss) - - - - - - (598,833) (598,833)

Sales and settlements - - - - - (10,809,437) (5,670,509) (16,479,946)

Purchases and issuances - - - - - - 6,689,518 6,689,518

Transfer IN - - - - - - - -

Transfer OUT - (54,546) - - - - - (54,546)

Dow Retirement Group Trust- Emerging Market Equity total balance at

December 31, 2018 -$ 22,684$ -$ -$ -$ 24,396,318$ 577,071$ 24,996,073$





Common Collective

Trusts



Other Investments




41


Balance at January 1, 2018 -$ 2,023,307$ -$ -$ -$ -$ -$ 2,023,307$

Attributable to assets held at December 31, 2018 (unrealized loss) - (1,961,661) - - - - - (1,961,661)

Attributable to assets sold (realized loss) - - - - - - - -

Sales and settlements - - - - - - - -

Purchases and issuances - 12,653,590 - - - - - 12,653,590

Dow Retirement Group Trust- Reinsurance total balance at

December 31, 2018 -$ 12,715,236$ -$ -$ -$ -$ -$ 12,715,236$


Other Investments






Common Collective

Trusts




42

The following tables set forth a summary of changes in the fair value of the Group Trust Level 3 assets for the year ended December 31, 2017:

Dow Retirement Group Trust – Tactical Fixed Income

Balance at January 1, 2017, as previously reported 1,312,158$ 72,242$ 1,103,343$ -$ -$ -$ -$ 2,487,743$

Reclassification of investments measured at net asset value - - - - - - - -

Balance at Jan 1, 2017, as restated 1,312,158 72,242 1,103,343 - - - - 2,487,743

Attributable to assets held at December 31, 2017 (unrealized gain (loss)) 450,307 (34,526) 95,141 - - - - 510,922

Attributable to assets sold (realized loss) (560,535) - (25,776) - - - - (586,311)

Sales and settlements (223,974) - (224,109) - - - - (448,083)

Purchases and issuances 187,537 - 252,486 - - - - 440,023

Dow Retirement Group Trust- Tactical Fixed Income total balance at

December 31, 2017 1,165,493$ 37,716$ 1,201,085$ -$ -$ -$ -$ 2,404,294$


Balance at January 1, 2017, as previously reported -$ -$ -$ 11,899,639$ -$ -$ -$ 11,899,639$


Balance at Jan 1, 2017, as restated - - - 11,899,639 - - - 11,899,639

Attributable to assets held at December 31, 2017 (unrealized gain) - - - 494,162 - - - 494,162

Purchases and issuances 398,520 - - - - - - 398,520

Dow Retirement Group Trust- US Long Gov/Cred Fixed Income total balance at

December 31, 2017 398,520$ -$ -$ 12,393,801$ -$ -$ -$ 12,792,321$

Dow Retirement Group Trust - Convertibles

Balance at January 1, 2017, as previously reported 1,030,000$ -$ -$ -$ -$ -$ -$ 1,030,000$


Balance at Jan 1, 2017, as restated 1,030,000 - - - - - - 1,030,000

Attributable to assets sold (realized gain) 96,389 - - - - - - 96,389

Sales and settlements (1,126,389) - - - - - - (1,126,389)

Dow Retirement Group Trust- Convertibles total balance at December 31, 2017

December 31, 2017 -$ -$ -$ -$ -$ -$ -$ -$

Partnerships and Joint Ventures

Interest

Other Investments


Corporate Debt

SecuritiesCommon and

Preferred StockGovernment

Securities


Common Collective

TrustsPooled Separate

Accounts



43


Balance at January 1, 2017, as previously reported -$ 449,613$ -$ -$ -$ -$ -$ 449,613$


Balance at Jan 1, 2017, as restated - 449,613 - - - - - 449,613

Attributable to assets held at December 31, 2017 (unrealized gain) - 109,380 - - - - - 109,380


Dow Retirement Group Trust- US Large Cap Equity total balance at

December 31, 2017 -$ 109,380$ -$ -$ -$ -$ -$ 109,380$


Balance at January 1, 2017, as previously reported -$ 752,694$ -$ -$ -$ -$ -$ 752,694$


Balance at Jan 1, 2017, as restated - 752,694 - - - - - 752,694


Attributable to assets sold (realized loss) - (777,195) - - - - - (777,195)


Purchases and issuances - 60,900 - - - - - 60,900

Dow Retirement Group Trust- US SM/Mid Cap Equity total balance at

December 31, 2017 -$ 60,900$ -$ -$ -$ -$ -$ 60,900$


Balance at January 1, 2017, as previously reported -$ -$ -$ -$ -$ -$ -$ -$


Balance at Jan 1, 2017, as restated - - - - - - - -

Attributable to assets held at December 31, 2017 (unrealized gain) - 26,010 - - - - 73,968 99,978

Attributable to assets sold (realized loss) - (67) - - - - (170) (237)

Sales and settlements - (3,866) - - - - 170 (3,696)

Purchases and issuances - 529,001 - - - - 1,186,872 1,715,873

Transfer IN - 1,260,840 - - - - - 1,260,840

Transfer OUT - - - - - - (1,260,840) (1,260,840)

Dow Retirement Group Trust- Global Equity total balance at

December 31, 2017 -$ 1,811,918$ -$ -$ -$ -$ -$ 1,811,918$

Corporate Debt



Securities


Common Collective


Accounts


Interest

Other Investments




44


Balance at January 1, 2017, as previously reported -$ 77,904$ -$ -$ -$ 31,092,900$ -$ 31,170,804$


Balance at Jan 1, 2017, as restated - 77,904 - - - 31,092,900 - 31,170,804

Attributable to assets held at December 31, 2017 (unrealized (loss) gain) - (639) - - - 4,956,013 16,660 4,972,034

Purchases and issuances - - - - - - 225,486 225,486

Dow Retirement Group Trust- Emerging Market Equity total balance at

December 31, 2017 -$ 77,265$ -$ -$ -$ 36,048,913$ 242,146$ 36,368,324$


Balance at January 1, 2017, as previously reported -$ -$ -$ -$ -$ 152,074,137$ 138,994,589$ 291,068,726$

Reclassification of investments measured at net asset value - - - - - 152,074,137 88,938,604 241,012,741

Balance at Jan 1, 2017, as restated - - - - - - 50,055,985 50,055,985

Attributable to assets held at December 31, 2017 (unrealized loss) - - - - - - (55,985) (55,985)

Attributable to assets sold (realized gain) - - - - - - 3,258,889 3,258,889

Sales and settlements - - - - - - (53,258,889) (53,258,889)


Dow Retirement Group Trust- Absolute Return total balance at

December 31, 2017 -$ -$ -$ -$ -$ -$ -$ -$

Dow Retirement Group Trust – Opportunistic Fl

Balance at January 1, 2017, as previously reported -$ -$ -$ -$ -$ 538,339,562$ -$ 538,339,562$

Reclassification of investments measured at net asset value - - - - - 538,339,562 - 538,339,562


Attributable to assets held at December 31, 2017 (unrealized gain (loss)) - - - - - - - -

Attributable to assets sold (realized gain (loss)) - - - - - - - -



Dow Retirement Group Trust- Opportunistic FI total balance at December 31, 2017

December 31, 2017 -$ -$ -$ -$ -$ -$ -$ -$


Interest

Other Investments


Corporate Debt



Securities


Common Collective


Accounts



45


Balance at January 1, 2017, as previously reported -$ -$ -$ -$ -$ 78,606,513$ -$ 78,606,513$

Reclassification of investments measured at net asset value - - - - - 78,606,513 - 78,606,513






Dow Retirement Group Trust- Legacy RH Infrastructure total balance at

December 31, 2017 -$ -$ -$ -$ -$ -$ -$ -$


Balance at January 1, 2017, as previously reported -$ -$ -$ -$ 18,487,002$ 719,400,826$ -$ 737,887,828$

Reclassification of investments measured at net asset value - - - - 18,487,002 719,400,826 - 737,887,828






Dow Retirement Group Trust- Real Estate Core OE Funds total balance at

December 31, 2017 -$ -$ -$ -$ -$ -$ -$ -$

Dow Retirement Group Trust – Real Estate non-Core OE Funds

Balance at January 1, 2017, as previously reported -$ -$ -$ -$ 98,029,622$ -$ -$ 98,029,622$

Reclassification of investments measured at net asset value - - - - 98,029,622 - - 98,029,622






Dow Retirement Group Trust- Real Estate non-Core OE Funds total balance at

December 31, 2017 -$ -$ -$ -$ -$ -$ -$ -$

Corporate Debt



Securities


Common Collective


Accounts


Interest

Other Investments




46


Balance at January 1, 2017, as previously reported -$ -$ -$ -$ -$ 235,997,741$ 110,360,740$ 346,358,481$

Reclassification of investments measured at net asset value - - - - - 235,997,741 110,360,740 346,358,481



Attributable to assets sold (realized gain) - 35,725 - - - - - 35,725


Purchases and issuances - 2,069,296 - - - - - 2,069,296

Dow Retirement Group Trust- Reinsurance total balance at December 31, 2017

December 31, 2017 -$ 2,023,307$ -$ -$ -$ -$ -$ 2,023,307$


Interest

Other Investments


Corporate Debt



Securities


Common Collective


Accounts



47

Other investments include derivatives of approximately $(868,000) and $(671,000) as well as hedge funds of approximately $611 million and $578 million for the years ended December 31, 2018 and 2017, respectively. Both observable and unobservable inputs may be used to determine the fair value of positions classified as Level 3 assets and liabilities. As a result, the unrealized gains and losses for these assets and liabilities included in the tables above may include changes in fair value that were attributable to both observable and unobservable inputs. The Group Trust’s policy is to recognize transfers in and transfers out of the Levels 1, 2, and 3 fair value classifications as of the actual date of the event of change in circumstances that caused the transfer. During the years ended December 31, 2018 and 2017, there were no significant transfers between investments, except certain reclassifications of investments measured at net asset value (or its equivalent) as disclosed above. The Group Trust holds certain investments which have redemption restrictions, redemption notification requirements, or unfunded commitments, as follows:

December 31, 2018 Fair Value

(in millions)

Unfunded Commitments

(in millions)

Redemption Frequency,

if eligibleRedemption

Notice Period Dow Retirement Group Trust Emerging Market Equity $ 25 $ - Monthly 1-15 days Absolute Return 1,222 106 Monthly 5-60 days Opportunistic Fl - Monthly redemption 92 - Monthly 1-15 days Quarterly redemption 751 578 Quarterly 90 days Total Opportunistic Fl 843 - Quarterly 90 days Legacy RH Infrastructure 57 - Quarterly 90 days Real Estate Core OE Funds 465 - Quarterly 90 days Real Estate Non-Core Funds 108 - Quarterly 90 days Reinsurance 432 Quarterly 90 days Total $ 3,152 $ 684




48

December 31, 2017 Fair Value

(in millions)

Unfunded Commitments

(in millions)

Redemption Frequency,

if eligibleRedemption

Notice Period Dow Retirement Group Trust: Emerging Market Equity $ 36 $ - Monthly 1-15 days Absolute Return 349 91 Monthly 5-60 days Opportunistic Fl - Monthly redemption 70 - Monthly 1-15 days Quarterly redemption 595 652 Quarterly 90 days Total Opportunistic Fl 665 - Quarterly 90 days Legacy RH Infrastructure 64 - Quarterly 90 days Real Estate Core OE Funds 773 - Quarterly 90 days Real Estate Non-Core Funds 103 - Quarterly 90 days Reinsurance 376 Quarterly 90 days Total $ 2,366 $ 743

The investment income (loss) for the Group Trust for the years ended December 31, 2018 and 2017 is as follows: Year ended December 31, 2018 2017 Dow Retirement Group Trust – Tactical Fixed Income Interest and dividends $ 42,509,602 $ 39,621,574 Net realized and unrealized gains (losses) on investments (35,227,184) 25,820,264 Total Tactical Fixed Income investment income 7,282,418 65,441,838 Dow Retirement Group Trust – US Long Gov/Cred Fixed Income Interest and dividends 57,349,167 52,436,038 Net realized and unrealized gains (losses) on investments (127,437,679) 134,011,773 Total US Long Gov/Cred Fixed Income investment income (loss) (70,088,512) 186,447,811 Dow Retirement Group Trust – Convertibles Interest and dividends 6,320,445 5,581,208 Net realized and unrealized gains (losses) on investments (9,656,662) 21,349,118 Total Convertibles investment income (loss) (3,336,217) 26,930,326 Dow Retirement Group Trust – US Large Cap Equity Interest and dividends 18,857,464 19,243,110 Net realized and unrealized gains (losses) on investments (68,272,231) 260,358,902 Total US Large Cap Equity investment income (loss) (49,414,767) 279,602,012 Dow Retirement Group Trust – US Large Cap Equity (Passive) Interest and dividends 4,217,397 1,159,715 Net realized and unrealized gains (losses) on investments (42,187,164) 56,604,293 Total US Large Cap Equity (Passive) investment income (loss) (37,969,767) 57,764,008



49

Year ended December 31, 2018 2017 Dow Retirement Group Trust – US SM/Mid Cap Equity Interest and dividends $ 7,512,975 $ 7,138,493 Net realized and unrealized gains (losses) on investments (62,409,360) 117,251,967 Total US SM/Mid Cap Equity investment income (loss) (54,896,385) 124,390,460 Dow Retirement Group Trust – International Developed Equity Interest and dividends 33,989,445 29,463,409 Net realized and unrealized gains (losses) on investments (270,169,773) 366,467,399 Total International Developed Equity investment income (loss) (236,180,328) 395,930,808 Dow Retirement Group Trust – Global Equity Interest and dividends 12,789,407 12,633,308 Net realized and unrealized gains (losses) on investments (68,976,132) 169,825,017 Total Global Equity investment income (loss) (56,186,725) 182,458,325 Dow Retirement Group Trust – Emerging Market Equity Interest and dividends 14,216,887 13,414,729 Net realized and unrealized gains (losses) on investments (141,058,562) 234,021,365 Total Emerging Market Equity investment income (loss) (126,841,675) 247,436,094 Dow Retirement Group Trust – Emerging Market Equity (Passive) Interest and dividends 331 - Net realized and unrealized gains (losses) on investments (7,945,071) - Total Emerging Market Equity (Passive) investment income (loss) (7,944,740) - Dow Retirement Group Trust – Absolute Return Interest and dividends 277 1,107,929 Net realized and unrealized gains (losses) on investments (26,853,167) 71,496,520 Total Absolute Return investment income (loss) (26,852,890) 72,604,449 Dow Retirement Group Trust – Opportunistic Fl Interest and dividends 2,843 6,982 Net realized and unrealized gains on investments 40,379,562 61,114,544 Total Opportunistic FI investment income 40,382,405 61,121,526 Dow Retirement Group Trust – Legacy RH Infrastructure Interest and dividends 317 690 Net realized and unrealized gains (losses) on investments (903,063) (694,809) Total Legacy RH Infrastructure investment income (loss) (902,746) (694,119) Dow Retirement Group Trust – Real Estate Core OE Funds Interest and dividends 88,512 15,873 Net realized and unrealized gains on investments 42,309,752 74,303,727 Total Real Estate Core OE Funds investment income 42,398,264 74,319,600



50

Year ended December 31, 2018 2017 Dow Retirement Group Trust – Real Estate Non-Core OE Funds Interest and dividends $ 2,593 $ 1,363 Net realized and unrealized gains on investments 8,359,802 7,334,036 Total Real Estate Non-Core OE Funds investment income 8,362,395 7,335,399 Dow Retirement Group Trust – Real Estate REIT Interest and dividends 3,878,875 2,887,474 Net realized and unrealized gains (losses) on investments (8,143,222) 1,579,279 Total Real Estate REIT investment income (loss) (4,264,347) 4,466,753 Dow Retirement Group Trust – Infrastructure & Real Assets Public Interest and dividends 151,663 166,312 Net realized and unrealized gains (losses) on investments (3,207,155) (2,439,965) Total Infrastructure & Real Assets Public investment income (loss) (3,055,492) (2,273,653) Dow Retirement Group Trust – RE LP 2012 Interest and dividends - - Net realized and unrealized gains on investments - - Total RE LP 2012 investment income - - Dow Retirement Group Trust – Reinsurance Interest and dividends 2 122 Net realized and unrealized gains (losses) on investments (27,400,697) (41,560,523) Total Reinsurance investment income (loss) (27,400,695) (41,560,401) Dow Retirement Group Trust – International Small Cap Interest and dividends 7,022,204 3,933,770 Net realized and unrealized gains (losses) on investments (45,084,333) 31,764,585 Total International Small Cap investment income (loss) (38,062,129) 35,698,355 Dow Retirement Group Trust – Cash and Securities Lending Interest and dividends - - Net realized and unrealized gains on investments 2,376,776 736,588 Total Cash and Securities Lending investment income 2,376,776 736,588 Total Dow Retirement Group Trust Investment Income (Loss) $ (642,595,157) $ 1,778,156,179

Derivative Instruments The Group Trust is party to certain agreements, which are designed to manage exposures to foreign exchange, interest rate, and inflation risks. The equity, foreign exchange, and interest rate contracts are used for the purpose of hedging changes in fluctuations of market prices or interest rates, or as an efficient substitute for traditional securities.



51

In connection with certain derivative instrument agreements, the Group Trust receives both cash and non-cash collateral as security to mitigate the risk of counterparties not meeting obligations under the terms of the agreements. The net assets of the Group Trust reflect, as an asset, the cash collateral received under the derivative instrument agreements as well as an offsetting liability representing the Group Trust’s obligation to return the collateral to the counterparty. There was no cash collateral held related to the derivative instrument agreements for the years ended December 31, 2018 and 2017. The non-cash collateral received is not reflected in the net assets of the Group Trust as the Group Trust does not sell or pledge the non-cash collateral. Any gains or losses recognized on derivatives are recognized in current year investment income. Following are the estimated fair values of derivative instruments at December 31, 2018 and 2017, shown at the gross amount: Asset Derivatives Liability Derivatives Derivatives 2018 2017 2018 2017 Equity contracts $ - $ 175,541 $ - $ 9,575 Foreign exchange contracts 521,774 333,905 220,695 608,398 Interest rate contracts 3,670,440 1,383,425 4,849,833 1,658,837 Other contracts 55,288 309,214 182,591 596,766 Total $ 4,247,502 $ 2,202,085 $ 5,253,119 $ 2,873,576 The Plan has elected to present certain derivative assets or liabilities on the statements of net assets on a net basis because a right of offset with another financial instrument subject to a master netting agreement exists for the derivative instrument. Additionally, the Plan has derivatives that are subject to enforceable master netting agreements. The Group Trust enters into agreements with counterparties that provide the Group Trust, in the event of a counterparty default (such as bankruptcy or a counterparty’s failure to pay or perform) with the right to net a counterparty’s rights and obligations under such agreement and liquidate and offset collateral held by the Group Trust against the net amount owed by the counterparty. Asset and liability derivatives are included in other investments in the Group Trust asset and liability fair value disclosure. For the years ended December 31, 2018 and 2017, the amount of gain recognized as investment income of the Group Trust attributable to derivative instruments was approximately $(1.4) million and $3 million, respectively. The notional amount represents the contract amount, not the amount at risk. The notional amount of interest rate instruments was approximately $1.5 billion and $881 million at December 31, 2018 and 2017, respectively. The notional amount of foreign exchange instruments was approximately $59 million and $756 million at December 31, 2018 and 2017, respectively. The notional amount of equity instruments was approximately $0 and $873,000 at December 31, 2018 and 2017, respectively. The notional amount of other instruments was approximately $53 million and $24 million at December 31, 2018 and 2017, respectively.



52

The investment fiduciaries, on behalf of the Group Trust, manage its foreign currency and interest rate counterparty credit risks by limiting exposure to and by monitoring the financial condition of each counterparty. In the unlikely event that a counterparty fails to meet the terms of a foreign currency or an interest rate instrument, the Group Trust’s risk is limited to the fair value of the instrument, offset by the value of any collateral held. Securities Lending The Trust fiduciary has entered into an agreement with Securities Finance Trust Company (the Agent), which authorizes the Agent to lend securities held in the Group Trust accounts to third parties. The Agent must obtain collateral from the borrower, which may be in cash or approved securities. The collateral and loaned securities are marked-to-market on a daily basis with additional collateral obtained or refunded as necessary. In the event that the loaned securities are not returned by the borrower, the Agent will, at its own expense, either replace the loaned securities or, if unable to purchase those securities on the open market, credit the Group Trust’s accounts with cash equal to the fair value of the loaned securities. Although the Group Trust’s securities lending activities are collateralized as described above, and although the terms of the securities lending agreement with the custodial bank require the bank to comply with government rules and regulations related to the lending of securities held by ERISA plans, the securities lending program involves both market and credit risk. In this context, market risk refers to the possibility that the borrower of securities will be unable to collateralize the loan upon a sudden material change in the fair value of the loaned securities or the collateral, or that the Group Trust’s investment of collateral received from the borrowers may be subject to unfavorable market fluctuations. This risk is mitigated by the limitations imposed through the Agent’s investment guidelines. Credit risk refers to the possibility that counterparties involved in the securities lending program may fail to perform in accordance with the terms of their contracts. Interest and dividend income reported for the Group Trust includes approximately $2.4 million and $1.3 million earned during 2018 and 2017, respectively, in conjunction with the securities lending program. The fair value of securities loaned was $88.2 million and $104.4 million, while the collateral held was $92.3 million and $107.6 million at December 31, 2018 and 2017, respectively. Collateral received consisted of cash, which was invested in short-term investments mainly comprised of seven-day repurchase agreements, and money market funds. In accordance with Accounting Standards Codification Section 860, Transfers and Servicing of Financial Assets, the value of the collateral held and a corresponding liability to return the collateral have been reported in the fair value tables above. Securities loaned at December 31, 2018 consist of corporate debt securities in the amount of $10.9 million, equity securities in the amount of $73.3 million, and cash equivalents in the amount of $4.0 million. Securities loaned at December 31, 2017 consist of corporate debt securities in the amount of $13.6 million, equity securities in the amount of $83.5 million, and cash equivalents in the amount of $7.3 million.

Acquisition Disposition Lease Expenses Current Value onSecurity Description / Asset ID Shares/Par Value Date Price Price Rental Incurred Cost Transaction Date Net Gain/Loss

1 JAN 18 - 31 DEC 18

Account number UCEPPAccount Name UNION CARBIDE EMPLOYEES PLAN

5500 Supplemental Schedules

5% Report - Part A

Single Transaction in Excess of 5%

Page 104 of 321

Generated by Northern Trust from reviewed periodic data on 1 May 19 Northern Trust - Dol

NOTE: TRANSACTIONS ARE BASED ON THE 2017-12-31 VALUE (INCLUDING ACCRUALS) OF 3,306,606,224.37

THERE ARE NO REPORTABLE TRANSACTIONS


1 JAN 18 - 31 DEC 18



5% Report - Part B

Series of Non-Security Transactions with Same Party in Excess of 5%

Page 105 of 321




Number of Transaction Aggregate Lease Expenses Current Value of AssetSecurity Description / Asset ID Transactions Acquisition Price Disposition Price Rental Incurred Cost of Asset on Transaction

1 JAN 18 - 31 DEC 18



5% Report - Part C Summary

Series of Transactions by Issue in Excess of 5%

Page 106 of 321



MFO DOW CHEMICAL GLOBAL EQUITY UNIT 9 CUSIP: Total acquisitions 4 53,017,549.31 0.00 53,017,549.31 53,017.549.31787992312

Total dispositions 16 122,074,692.24 0.00 84,271,543.29 122,074.692.24

UNITED STATES TREAS NTS WI TREASURY NOTE 2% DUE Total acquisitions 4 127,864,414.45 0.00 127,864,414.45 127,864.414.4511-15-2026 REG SEDOL: BYYRSN3


UNITED STATES TREAS NTS 1.5% DUE 10-31-2 019 Total acquisitions 12 107,307,102.28 0.00 107,307,102.28 107,307.102.28SEDOL: BRYG9R2


UNITED STATES TREAS 2.25% DUE 02-15-2027 REG Total acquisitions 5 125,294,146.64 0.00 125,294,146.64 125,294.146.64SEDOL: BYPG9T2



1 JAN 18 - 31 DEC 18



5% Report - Part D

Series of Transactions with Same Party in Excess of 5%

Page 107 of 321




Security Description / Asset ID Shares/Par Value Historical Cost Current Value

-11,070.240 -11,111.05 -11,070.24-148.670 -148.67 -148.67

1,081.230 1,081.23 1,081.23

1,998,821.130 1,998,821.13 1,998,821.13

222,313.000 222,313.00 200,211.00

0.000 -165,875.02 -165,875.02

0.000 4,087,911.67 4,087,911.67

173,895,778.440 173,895,778.44 173,895,778.44

** All or a portion of this security participates in Securities Lending.

31 DEC 18



Schedule of Assets Held for Investment Purposes

Non-Interest Bearing Cash - USD

Receivables - Other - USD

Interest Bearing Cash - USD

United States - USD

Page 147 of 321


Total - all currencies 1,988,642.64 1,988,683.45

Total United States - USD 222,313.00 200,211.00

Total Non-Interest Bearing Cash - USD 2,210,955.64 2,188,894.45


Total Receivables - Other - USD 3,922,036.65 3,922,036.65


Total Interest Bearing Cash - USD 173,895,778.44 173,895,778.44

CAD - Canadian dollar

EUR - Euro

JPY - Japanese yen

USD - United States dollar

CASH HELD AT L&B (DOW)CUSIP: 991DLV994

United States dollar

Pending trade sales: United States dollar



1,500,000.000 1,568,730.00 1,781,059.50

7,000,000.000 7,235,410.00 7,134,890.00

2,000,000.000 2,000,000.00 2,053,940.00

430,000.000 446,662.50 426,733.29

4,000,000.000 4,009,200.00 3,811,248.00

1,000,000.000 1,258,400.00 1,243,433.00

9,500,000.000 9,278,810.00 10,324,913.50

1,950,000.000 2,697,868.55 2,507,261.25

2,000,000.000 2,000,000.00 2,012,694.00

5,000,000.000 5,000,000.00 5,017,840.00

1,075,000.000 1,486,533.84 1,461,592.58

1,130,000.000 1,656,514.51 1,508,832.50

100,000.000 144,424.00 128,237.20

3,000,000.000 4,220,130.00 4,021,281.00

372,123.920 392,765.16 373,967.05

180,000.000 173,531.25 172,098.18

760,000.000 718,457.12 717,238.60

180,000.000 175,211.72 178,557.84


31 DEC 18




U.S. Government SecuritiesUnited States - USD

Page 148 of 321


FED HOME LN BKS 5.75% DUE 06-12-2026SEDOL: B1BXDX8

FED HOME LOAN BK 3.5% 09-24-2029SEDOL: BPZ5LP6

FEDERAL FARM CR BKS CONS SYSTEMWIDE 3.4208-06-2029SEDOL: BFXFBT2

FEDERAL HOME LN MTG CORP SR KIR3 CL A2 3.281% 08-25-2027SEDOL: BZ1H220

FFCB TRANCHE 00536 2.85 09-13-2032SEDOL: BFYBT73

FFCB 5.67% 10-28-2030SEDOL: BYWBJT0

FHLB BD 5.25 06-10-2022SEDOL: BYVD447

FHLB BD 5.5 07-15-2036CUSIP: 3133XGAY0

FHLB CONS BD DTD 11/13/2014 3.33 11-13-2029CUSIP: 3130A3HC1

FHLB FEDERAL HOME LOAN BANKS 4.05 11-06-2028CUSIP: 3130AFBB2

FHLMC DTD 10/25/2000 6.75 03-15-2031SEDOL: B4R3JV3

FHLMC MTN 6.25 07-15-2032SEDOL: B86ZQC8

FNMA BD 6.25 05-15-2029SEDOL: 2479471

FNMA DTD 11/03/2000 6.625 11-15-2030CUSIP: 31359MGK3

FNMA POOL #AM6558 3.7% 09-01-2034 BEOCUSIP: 3138L7JC1

FNMA POOL #AN5447 3.25% DUE 05-01-2032 BEOCUSIP: 3138LJBR0

FNMA POOL #AN6149 3.14% 07-01-2032 BEOCUSIP: 3138LJZP8

FNMA POOL #AN9067 3.51% 05-01-2033 BEOCUSIP: 3138LNCD1


355,000.000 291,488.28 312,484.85

830,000.000 1,064,314.18 1,153,315.71

825,000.000 776,531.25 783,362.25

1,120,000.000 789,796.40 789,647.04

250,000.000 175,199.08 174,737.50

1,455,000.000 1,385,854.80 1,413,829.17

50,000.000 48,803.88 48,075.20

1,500,000.000 1,526,894.53 1,468,594.50

6,000,000.000 6,230,000.00 5,838,750.00

39,050,000.000 36,244,261.04 35,216,695.80

460,000.000 449,283.60 467,005.02

10,950,000.000 10,724,899.13 10,779,333.30

3,000,000.000 2,995,312.50 2,945,391.00

1,230,000.000 1,224,843.86 1,261,854.54

2,760,000.000 1,400,755.20 1,236,813.96

2,100,000.000 779,970.90 1,007,540.10

2,930,000.000 1,365,878.10 1,371,119.87

790,000.000 331,262.80 332,329.30


31 DEC 18





Page 149 of 321


FNMA SERIES 2013-62 CL PY 2.5 DUE 06-25-2043CUSIP: 3136AELQ8

FNMA 7.25 05-15-2030CUSIP: 31359MFP3

I/O FNMA POOL #AN6573 3.2% 09-01-2032CUSIP: 3138LKJT5

RESOLUTION FDG CORP FED BOOK ENTRY PRIN STRIPS GENERIC PRINPMT 01-15-2030 SEDOL: 2172413


TSY INFL IX N/B 1% TIPS 02-15-2048SEDOL: BFZBGW6

UNITED STATES OF AMER BDS INDX LNKD 0.875% 02-15-2047SEDOL: BF0SHC9

UNITED STATES OF AMER TREAS BD 2.375% 5-15-2027SEDOL: BF0T9Y8

UNITED STATES OF AMER TREAS BONDS DTD 05/15/2015 2.125%DUE 05-15-2025 REG SEDOL: BZ56W12

UNITED STATES OF AMER TREAS BONDS DTD 05/15/2016 2.5% DUE05-15-2046 REG SEDOL: BYZ2TS9

UNITED STATES OF AMER TREAS BONDS 0.75 DEB TIPS 02-15-2042SEDOL: B622LB3

UNITED STATES OF AMER TREAS NOTES DTD 10/15/2017 1.625%DUE 10-15-2020 REG SEDOL: BF7MHS0

UNITED STATES OF AMER TREAS NOTES 2.0% 11-30-2022SEDOL: BZ56VL5

UNITED STATES T NOTE 3.0% 10-31-2025SEDOL: BGN70G5

UNITED STATES TREAS BD STRIPPED PRIN PMT 05-15-2045SEDOL: BZ1NLZ4

UNITED STATES TREAS BD STRIPPED PRIN PMTZCP DUE 02-15-2043SEDOL: BMQX5D4

UNITED STATES TREAS BD STRIPPED PRIN PMTZCP 11-15-2043 REGSEDOL: BN801K9

UNITED STATES TREAS BD STRIPPED PRIN PMT00117 05-15-2047SEDOL: BF5BLR6


2,140,000.000 867,491.80 993,283.14

28,560,000.000 27,372,975.00 27,639,596.88

405,000.000 390,869.58 393,783.53

0.000 0.00 0.00

2,730,000.000 2,768,507.97 2,784,706.47

85,000.000 102,225.78 103,527.37

3,842,900.000 3,927,807.53 3,847,104.13

7,370,000.000 7,149,773.79 7,509,912.08

44,145,000.000 55,656,666.99 53,346,495.51

260,000.000 261,258.78 259,461.80

36,220,000.000 34,774,359.99 32,699,886.86

3,000,000.000 3,653,063.45 3,660,000.00

30,835,000.000 38,066,598.63 39,174,911.62

1,800,000.000 2,103,878.92 2,218,640.40

1,007,500.000 1,071,456.88 1,031,349.54

3,395,000.000 3,074,765.65 3,246,071.54

340,000.000 371,941.65 343,955.68

4,100,000.000 5,600,183.60 5,381,250.00


31 DEC 18





Page 150 of 321


UNITED STATES TREAS BD STRIPPED PRIN PMT02-15-2044 REGSEDOL: BZ0RQY1

UNITED STATES TREAS BDS 2.25% DUE08-15-2027 SEDOL: BF53YJ5

UNITED STATES TREAS BDS 2.875% DUE11-15-2046 SEDOL: BZ1BP67

UNITED STATES TREAS BDS .. 3.125% DUE 11-15-2041 REGSEDOL: B6ZKRY9

UNITED STATES TREAS BDS BD 3.125% DUE 02-15-2043 REGSEDOL: B89T3Q0

UNITED STATES TREAS BDS BD 5.25% DUE 11-15-2028 REGSEDOL: 2307271

UNITED STATES TREAS BDS BDS 3% DUE 05-15-2042 REGSEDOL: BYQLTY1

UNITED STATES TREAS BDS DTD 3.125% 05-15-2048SEDOL: BD59D47

UNITED STATES TREAS BDS DTD 00219 4.25% DUE 11-15-2040 REGSEDOL: BYQLV01

UNITED STATES TREAS BDS DTD 00246 3% DUE11-15-2045 REGSEDOL: BYQP1M5

UNITED STATES TREAS BDS DTD 00247 2.5% DUE 02-15-2046 REGSEDOL: BZ56WT0

UNITED STATES TREAS BDS DTD 02/15/1996 6% DUE 02-15-2026REG SEDOL: 2888163

UNITED STATES TREAS BDS DTD 02/15/2001 5.375 15 FEB 2031SEDOL: 2724610

UNITED STATES TREAS BDS DTD 02/15/2006 4.5% DUE 02-15-2036REG SEDOL: BSTJW18

UNITED STATES TREAS BDS DTD 02/15/2012 3.125% DUE02-15-2042 REG SEDOL: B7FRYY6

UNITED STATES TREAS BDS DTD 11/15/2012 2.75% DUE11-15-2042 REG SEDOL: BZ56WH8

UNITED STATES TREAS BDS TSY INFL IX N/B 02-15-2046SEDOL: BYXFH64

UNITED STATES TREAS BDS 00203 5% DUE 05-15-2037 REGSEDOL: BSTJVX3


21,407,500.000 20,311,468.54 21,306,306.75

7,002,400.000 6,764,466.65 6,964,923.16

2,860,000.000 2,907,094.40 2,919,545.20

1,890,000.000 1,964,916.13 2,012,997.42

2,895,000.000 3,275,120.17 3,206,889.93

3,155,000.000 3,485,941.81 3,492,313.67

31,020,000.000 34,613,090.08 35,034,422.28

8,615,000.000 8,835,737.28 8,590,774.62

3,880,000.000 4,045,959.62 3,863,327.64

7,380,000.000 7,684,004.54 7,368,760.26

1,553,000.000 1,652,194.93 1,550,027.56

41,320,000.000 42,449,540.18 39,969,042.60

8,310,000.000 8,324,247.66 8,438,547.39

1,000,000.000 996,406.25 985,938.00

10,915,000.000 10,790,074.41 10,842,513.49

3,800,000.000 3,846,531.25 3,725,930.40

5,820,000.000 5,714,088.92 5,730,424.38

2,000,000.000 2,001,562.50 1,937,968.00


31 DEC 18





Page 151 of 321


UNITED STATES TREAS BDS 3.0% DUE 08-15-2048SEDOL: BFZLQN7

UNITED STATES TREAS BDS 3.0% DUE 02-15-2048SEDOL: BG0D0F5

UNITED STATES TREAS BDS 3.125 DUE 08-15-2044SEDOL: BPYD753

UNITED STATES TREAS BDS 3.375 05-15-2044REGSEDOL: BYQLTW9

UNITED STATES TREAS BDS 3.625 DUE 02-15-2044TBOND SEDOL: BJT0ZC0

UNITED STATES TREAS BDS 3.625 DUE 08-15-2043SEDOL: BCZQWC2

UNITED STATES TREAS BDS 3.75 DUE 11-15-2043 REGSEDOL: BGK9QZ5

UNITED STATES TREAS BDS 3% DUE 02-15-2047 REGSEDOL: BDRJ2Q0

UNITED STATES TREAS BDS 3% DUE 05-15-2047 REGSEDOL: BF0T9Z9

UNITED STATES TREAS BDS 3% DUE 11-15-2044 REGSEDOL: BSJWZQ3

UNITED STATES TREAS BDS 3% DUE 05-1 5-2045SEDOL: BXC4FZ0

UNITED STATES TREAS DTD 02/15/2015 2% DUE 02-15-2025REG SEDOL: BVVT3Q9

UNITED STATES TREAS NTS 2.875% 08-15-2028SEDOL: BFZLQP9

UNITED STATES TREAS NTS 2.0% DUE 02-15-2022 REGSEDOL: BZ56V60

UNITED STATES TREAS NTS DTD 00476 2.125%DUE 08-31-2020 REGSEDOL: BD5JSB9

UNITED STATES TREAS NTS DTD 02/15/2013 2% DUE 02-15-2023REG SEDOL: B9CDBG2

UNITED STATES TREAS NTS DTD 04/30/2015 1.375% DUE04-30-2020 REG SEDOL: BZ56TH7

UNITED STATES TREAS NTS DTD 05/15/2013 1.75% DUE05-15-2023 REG SEDOL: B8W8CY5


4,000,000.000 4,221,093.75 3,992,656.00

3,000,000.000 2,986,640.63 2,950,548.00

6,000,000.000 5,923,359.38 5,784,378.00

500,000.000 498,925.78 512,832.00

3,000,000.000 3,026,562.50 2,948,319.00

3,000,000.000 3,187,265.62 3,032,109.00

26,575,000.000 25,878,315.68 26,073,609.48

3,000,000.000 2,990,664.07 2,808,282.00

8,170,000.000 7,979,792.19 8,009,475.84

400,000.000 417,801.45 414,333.48

18,465,000.000 18,182,254.69 18,219,046.20

82,500,000.000 81,048,012.81 81,475,185.00

16,195,000.000 16,131,281.29 16,304,445.81

64,865,000.000 64,925,810.94 65,549,131.16

1,370,000.000 941,464.00 970,546.36

920,000.000 546,820.40 558,438.16

2,500,000.000 2,361,523.44 2,420,215.00

15,420,000.000 15,148,799.90 15,279,647.16


31 DEC 18





Page 152 of 321


UNITED STATES TREAS NTS DTD 05/15/2014 2.5% DUE 05-15-2024REG SEDOL: BM7S9P8

UNITED STATES TREAS NTS DTD 07/31/2015 2% DUE 07-31-2022REG SEDOL: BZ56VH1

UNITED STATES TREAS NTS DTD 08/15/2015 2% DUE 08-15-2025REG SEDOL: BYS2RD7

UNITED STATES TREAS NTS DTD 09/30/2018 3.0% 09-30-2025SEDOL: BFM0VV0

UNITED STATES TREAS NTS DTD 11/15/2014 2.25% DUE11-15-2024 REG SEDOL: BSJWZX0

UNITED STATES TREAS NTS DTD 2.75% DUE 02-15-2024 REGSEDOL: BJT0TY0

UNITED STATES TREAS NTS DTD 658 1.375% DUE 08-31-2020 REGSEDOL: BZ56WM3

UNITED STATES TREAS NTS DTD 683 1.625% DUE 02-15-2026 REGSEDOL: BD2C0G0

UNITED STATES TREAS NTS FIXED 1.375% DUE 09-30-2020SEDOL: BZ56TR7

UNITED STATES TREAS NTS INFL IDX DTD 0.625% 01-15-2026SEDOL: BDHLRC7

UNITED STATES TREAS NTS UNITED STATES TREAS NTS 1.5% DUE04-15-2020 REG SEDOL: BYP3335

UNITED STATES TREAS NTS 2.0% DUE 08-31-2021SEDOL: BQ717J5

UNITED STATES TREAS NTS 2.75% DUE 08-15-2021 REGSEDOL: BFZLQQ0

UNITED STATES TREAS NTS 2.875% DUE 10-15-2021SEDOL: BFY6Z58

UNITED STATES TREAS SEC STRIPPED INT PMT00528 02-15-2031(UNDDATE) REG SEDOL: B0638P3

UNITED STATES TREAS SEC STRIPPED INT PMT00842 02-15-2036(UNDDATE) REG SEDOL: B156388

UNITED STATES TREAS 1.625% DUE 11-15-2022SEDOL: B8P4ZL8

US TREAS NTS DTD 00363 2.125 DUE 08-15-2021 REGSEDOL: BYQLWD1


17,345,000.000 17,274,160.36 17,331,453.56

3,535,000.000 3,469,775.96 3,479,627.76

19,205,000.000 18,322,501.29 18,537,318.97

3,320,000.000 3,553,054.70 3,550,325.00

330,000.000 322,962.45 315,033.84

150,000.000 150,532.92 163,873.50

20,000.000 23,835.80 23,227.82

60,000.000 53,910.60 57,834.30

100,000.000 116,305.00 110,214.80

280,000.000 359,858.80 351,818.04

1,000,000.000 999,480.00 988,112.00


31 DEC 18




U.S. Government Securities

Corporate Debt Instruments - Preferred

United States - USD

Australia - USD

Canada - USD

France - USD

Page 153 of 321


Total United States - USD 768,160,150.32 764,253,208.84

Total U.S. Government Securities 768,160,150.32 764,253,208.84

Total Australia - USD 667,546.77 670,184.26

Total Canada - USD 359,858.80 351,818.04

US TREASURY N/B TNOTE 2.5% 06-30-2020SEDOL: BD9MJ99

US TREASURY N/B US GOVT NATIONAL 1.5% DUE 07-15-2020 REGSEDOL: BDCSGC6

UTD STATES TREAS 1.125% DUE 08-31-2021SEDOL: BD2BRV1

WI TREASURY SEC 3.375% DUE 11-15-2048 REGSEDOL: BGRW851

BHP BILLITON FIN USA LTD 4.125 DUE 02-24-2042 REGSEDOL: B5NNJ47

BHP BILLITON FIN 5% DUE 09-30-2043SEDOL: BFD3PF0

BHP FIN USA LTD 6.42% DUE 03-01-2026SEDOL: 2093581

RIO TINTO FIN USA 4.125 DUE 08-21-2042SEDOL: B8NWTL2

RIO TINTO FIN USA 5.2 DUE 11-02-2040SEDOL: B5TZB18

CDN NATL RY CO 6.375% DUE 11-15-2037SEDOL: B27ZWG1

TOTAL CAP INTL 2.875% DUE 02-17-2022SEDOL: B9L3JK3


255,000.000 266,635.35 265,055.67

85,000.000 93,777.10 107,386.37

100,000.000 99,860.00 95,431.80

140,000.000 137,299.40 149,555.98

1,355,000.000 1,662,727.52 1,703,164.54

3,955,000.000 3,971,510.12 4,055,441.18

210,000.000 209,168.70 208,294.17

45,000.000 44,600.85 39,945.02

60,000.000 56,701.20 61,197.12


31 DEC 18




Corporate Debt Instruments - PreferredFrance - USD

Netherlands - USD

Norway - USD

Switzerland - USD

United Kingdom - USD

United States - USD

Page 154 of 321


Total France - USD 999,480.00 988,112.00

Total Netherlands - USD 360,412.45 372,442.04

Total Norway - USD 99,860.00 95,431.80

Total Switzerland - USD 137,299.40 149,555.98

Total United Kingdom - USD 5,634,237.64 5,758,605.72

SHELL INTERNATIONAL FIN 4.55 DUE 08-12-2043 REGSEDOL: BCZQWS8

SHELL INTL FIN B V 6.375% DUE 12-15-2038SEDOL: B90FLN7

STATOIL ASA 3.95 DUE 05-15-2043SEDOL: BLSP5D1

NOVARTIS CAP CORP 4.4% DUE 05-06-2044SEDOL: BK1PN26

GLAXOSMITHKLINE 6.375% DUE 05-15-2038SEDOL: B88GFC2

SHELL INTERNATIONAL FIN 4.375% DUE 05-11-2045SEDOL: BXQ9DY6

ACE INA HLDGS INC 4.15% DUE 03-13-2043SEDOL: B8PNBH3

APPLE INC 3.45% SNR 09/02/2045 USDSEDOL: BVVCSF2

BERKSHIRE HATHAWAY 4.4% DUE 05-15-2042SEDOL: B630666


935,000.000 923,798.70 1,117,619.53

70,000.000 68,754.50 87,072.37

85,000.000 112,105.65 113,116.05

90,000.000 86,701.50 78,249.42

1,500,000.000 1,496,565.00 1,501,779.00

60,000.000 60,363.60 59,927.34

3,705,000.000 3,697,293.60 3,994,582.80

300,000.000 287,158.14 338,599.80

70,000.000 66,337.60 65,123.17

575,000.000 595,108.35 636,736.60

30,000.000 34,925.40 36,100.08

70,000.000 69,694.80 68,011.58

80,000.000 100,195.20 101,982.64

3,430,000.000 4,053,711.20 4,467,437.80

110,000.000 139,690.10 136,015.88

1,500,000.000 1,918,140.00 1,856,383.50

1,745,000.000 2,056,223.09 2,060,553.59

120,000.000 107,948.40 116,442.36


31 DEC 18




Corporate Debt Instruments - PreferredUnited States - USD

Page 155 of 321


BERKSHIRE HATHAWAY 5.75% DUE 01-15-2040SEDOL: B5M4JQ3

BOEING CO SR NT 5.875 DUE 02-15-2040SEDOL: BG48P39

BOEING CO 6.625 DEB DUE 02-15-2038SEDOL: 2283478

BRISTOL MYERS 3.25% DUE 08-01-2042SEDOL: B8L71C4

BURL NORTHN SANTA 3.4% DUE 09-01-2024SEDOL: BQ26P57

BURLINGTON NORTHN SANTA FE LLC 3.05 DUE 03-15-2022SEDOL: B78B263

BURLINGTON NORTHN SANTA FE LLC 4.9 DUE 04-01-2044 REGSEDOL: BKH0LR6

CAROLINA PWR & LT 5.7% DUE 04-01-2035SEDOL: B06T0B1

CATERPILLAR INC 3.803% DUE 08-15-2042SEDOL: B95BMR1

CATERPILLAR INC 5.2% DUE 05-27-2041SEDOL: B3T0KH8

CATERPILLAR INC 6.05 DUE 08-15-2036 BEOSEDOL: B1B8032

CENTERPOINT ENERGY 3.95% 03-01-2048SEDOL: BFYS3F0

CHUBB CORP 6.5% DUE 05-15-2038SEDOL: B87C800

CONOCO FDG CO 7.25% DUE 10-15-2031SEDOL: BG48S85

CONOCO INC 6.95% DUE 04-15-2029SEDOL: B2PJ1B3

CONOCOPHILLIPS GTD NT 6.5 DUE 02-15-2039REGSEDOL: B4T4431

CONOCOPHILLIPS 5.9% DUE 05-15-2038SEDOL: BG48SD0

CONSUMERS ENERGY CO 3.95 DUE 05-15-2043 BEOSEDOL: B98D0N6


95,000.000 111,328.60 124,350.54

70,000.000 68,903.10 67,859.96

190,000.000 180,848.99 221,449.18

500,000.000 499,145.00 495,252.00

115,000.000 126,272.30 116,331.93

50,000.000 49,973.00 46,511.25

40,000.000 36,934.40 38,429.92

390,000.000 392,511.60 443,634.36

50,000.000 62,661.50 61,723.45

1,795,000.000 1,792,487.00 1,789,291.90

2,095,000.000 2,087,729.83 2,080,835.71

240,000.000 309,456.00 294,986.40

770,000.000 835,912.00 962,891.16

1,135,000.000 1,079,245.63 1,448,821.83

1,000,000.000 997,500.00 979,523.00

90,000.000 111,775.50 106,437.96

1,000,000.000 998,350.00 1,022,077.00

370,000.000 369,962.60 363,682.99


31 DEC 18





Page 156 of 321


DEERE & CO DEERE & CO DEB 7.1250000 7.125 DUE03-03-2031 BEO SEDOL: BG48T59

DEERE & CO 3.9% DUE 06-09-2042SEDOL: BBVHMY4

DETROIT EDISON CO 5.7% DUE 10-01-2037SEDOL: B0LND19

DISNEY WALT CO NEW 4.125 DUE 06-01-2044SEDOL: BN459D7

DISNEY WALT CO NEW 4.375% DUE 08-16-2041SEDOL: B4PCG66

DTE ELEC CO 3.75% DUE 08-15-2047SEDOL: BF08MX5

DUKE ENERGY 4 DUE 09-30-2042SEDOL: B8GF9H4

DUKE ENERGY 5.3% DUE 02-15-2040SEDOL: B432721

EMERSON ELEC CO 6% DUE 08-15-2032SEDOL: 2978451

FL PWR & LT CO 4.05% DUE 06-01-2042SEDOL: B8C07L3

FL PWR & LT CO 4.05% DUE 10-01-2044SEDOL: BQQCCK5

FL PWR & LT CO 5.95% DUE 02-01-2038SEDOL: B2Q0F35

FLORIDA PWR CORP 6.35% DUE 09-15-2037SEDOL: B27YLH2

FLORIDA PWR CORP 6.4% DUE 06-15-2038SEDOL: B39XY20

FRANKLIN RES INC 2.8% DUE 09-15-2022SEDOL: B8KQHG8

GE GLOBAL INS HLDG 7% DUE 02-15-2026SEDOL: 2435644

GEN DYNAMICS CORP 3.875% DUE 07-15-2021SEDOL: BG48VV9

HOME DEPOT INC 4.2% DUE 04-01-2043SEDOL: B9N1J94


280,000.000 279,297.20 279,048.28

1,000,000.000 984,470.00 1,007,174.00

1,130,000.000 1,113,117.80 1,206,072.73

315,000.000 392,208.92 386,539.65

4,165,000.000 4,336,252.37 4,450,623.21

180,000.000 180,173.45 224,632.26

1,601,000.000 1,599,593.68 1,639,167.84

95,000.000 94,371.10 98,571.15

45,000.000 49,763.55 47,179.89

290,000.000 333,122.80 337,691.66

500,000.000 497,125.00 480,213.50

190,000.000 189,732.10 183,933.49

60,000.000 59,825.40 55,425.48

130,000.000 129,749.10 121,271.02

100,000.000 99,223.00 99,283.10

40,000.000 39,564.80 41,173.92

2,500,000.000 2,484,453.86 2,365,520.00

5,210,000.000 5,223,351.72 5,229,756.32


31 DEC 18





Page 157 of 321


HOME DEPOT INC 4.25% DUE 04-01-2046SEDOL: BYQF318

HOME DEPOT INC 4.4 DUE 03-15-2045 REGSEDOL: BR30BC4

HOME DEPOT INC 4.875 DUE 02-15-2044SEDOL: BDD8L53

HOME DEPOT INC 5.95% DUE 04-01-2041SEDOL: BFN0JP9

JOHNSON & JOHNSON 4.375 DUE 12-05-2033SEDOL: BQY7CZ7

JOHNSON & JOHNSON 5.95% DUE 08-15-2037SEDOL: BG48XN5

MEDTRONIC INC 4.375% DUE 03-15-2035SEDOL: BYMLDT8

MEDTRONIC INC 4.625 DUE 03-15-2044SEDOL: BK0NS71

MEDTRONIC INC 4.625% DUE 03-15-2045SEDOL: BYMLDL0

MEDTRONIC INC 5.55% DUE 03-15-2040SEDOL: B3RSVW6

MERCK & CO INC NEW 3.7% DUE 02-10-2045SEDOL: BVG7BV9

MIDAMERICAN ENERGY CO 3.95% 08-01-2047SEDOL: BDFFSG2

NIKE INC 3.625% DUE 05-01-2043SEDOL: B75MXV1

OCCIDENTAL PETE 4.1% DUE 02-15-2047SEDOL: BZ1C623

OCCIDENTAL PETE 4.625% DUE 06-15-2045SEDOL: BYQ27T5

ONE GAS INC 4.5% DUE 11-01-2048SEDOL: BGL8899

ORACLE CORP 4.125% DUE 05-15-2045SEDOL: BWTM334

ORACLE CORP 4.3% DUE 07-08-2034SEDOL: BP4W534


235,000.000 237,300.25 259,665.60

470,000.000 505,783.40 564,150.87

125,000.000 124,785.00 155,631.13

1,320,000.000 1,224,760.32 1,575,785.64

60,000.000 59,783.40 70,317.42

190,000.000 256,528.50 236,972.75

70,000.000 84,931.00 96,342.19

1,815,000.000 1,813,057.95 1,795,394.37

20,000.000 19,917.60 19,147.34

185,000.000 181,022.70 164,191.39

115,000.000 122,822.89 116,160.12

110,000.000 131,563.30 114,877.29

50,000.000 49,971.00 69,045.25

165,000.000 176,050.80 163,590.24

90,000.000 87,477.30 79,422.21

3,390,000.000 3,320,606.70 3,082,947.36

300,000.000 296,836.45 347,607.00

825,000.000 792,288.75 741,895.28


31 DEC 18





Page 158 of 321


ORACLE CORP 5.375 DUE 07-15-2040SEDOL: B7FNML7

ORACLE CORP 6.125% DUE 07-08-2039SEDOL: B3LR141

ORACLE CORP 6.5% DUE 04-15-2038SEDOL: B2QR213

PACIFICORP 5.75% DUE 04-01-2037SEDOL: B1V72T9

PACIFICORP 5.9% DUE 08-15-2034SEDOL: B02LFY9

PACIFICORP 6.25% DUE 10-15-2037SEDOL: B2853J0

PACIFICORP 7.7% DUE 11-15-2031SEDOL: 2823926

PARKER-HANNIFIN FIXED 4.2% DUE 11-21-2034SEDOL: BSPPVL3

PARKER-HANNIFIN 4.1% DUE 03-01-2047SEDOL: BF1GF73

PEPSICO INC 3.45% DUE 10-06-2046SEDOL: BD3VCR1

PEPSICO INC 4.25% DUE 10-22-2044SEDOL: BRWR319

PEPSICO INC 4.45% DUE 04-14-2046SEDOL: BZ30BC0

PFIZER INC NT 7.2 DUE 03-15-2039SEDOL: B8MJDB2

PHILIP MORRIS INTL INC 4.875 DUE 11-15-2043SEDOL: BGM0MQ9

PHILIP MORRIS INTL 4.125% DUE 03-04-2043SEDOL: B83KB65

PHILIP MORRIS INTL 4.375% DUE 11-15-2041SEDOL: B6VMZ67

PHILIP MORRIS INTL 6.375% DUE 05-16-2038SEDOL: BG49220

PRAXAIR INC 3.55% DUE 11-07-2042SEDOL: B7XR437


1,000,000.000 990,510.00 957,724.00

2,105,000.000 2,094,748.65 1,962,512.55

60,000.000 65,962.80 66,643.32

220,000.000 219,018.80 200,115.74

1,035,000.000 1,028,821.05 940,517.96

630,000.000 595,627.20 620,424.00

1,845,000.000 1,854,639.65 1,933,128.27

240,000.000 292,972.80 267,757.20

50,000.000 45,215.50 47,152.45

1,500,000.000 1,496,220.00 1,511,758.50

190,000.000 201,935.80 239,542.12

70,000.000 88,267.20 85,548.26

865,000.000 861,254.55 842,437.34

105,000.000 104,029.80 96,092.75

750,000.000 784,194.60 885,293.25

3,540,000.000 3,249,480.91 4,578,639.55

300,000.000 307,980.84 391,926.00

180,000.000 180,802.53 219,258.00


31 DEC 18





Page 159 of 321


PUB SVC ELEC GAS 4 DUE 06-01-2044SEDOL: BN70HV3

PUBLIC SVC ELEC GAS CO TRANCHE # TR 00025 3.6509-01-2042 SEDOL: B80G7N5

RAYTHEON CO 4.875% DUE 10-15-2040SEDOL: B4QLFC1

SAN DIEGO GAS & 3.75% DUE 06-01-2047SEDOL: BF4SP32

SOUTHN CAL EDISON 3.9 DUE 03-15-2043SEDOL: B91R9M7

SOUTHN CAL EDISON 4.5% DUE 09-01-2040SEDOL: B469DS7

SOUTHN CAL EDISON 5.35% DUE 07-15-2035SEDOL: B0BXDD1

SOUTHN CAL EDISON 6% DUE 01-15-2034SEDOL: 2317894

TARGET CORP 4% DUE 07-01-2042SEDOL: B9K8J87

TOYOTA MTR CR CORP 3.4 09-15-2021SEDOL: B8H7DG6

TRAVELERS PPTY CAS 6.375% DUE 03-15-2033SEDOL: 2600851

UNILEVER CAP CORP 5.9% DUE 11-15-2032SEDOL: B2PPTS4

UNION ELEC CO 4.0% DUE 04-01-2048SEDOL: BFY3BS4

UNITEDHEALTH GROUP 3.75% 10-15-2047SEDOL: BYZLN95

UNITEDHEALTH GROUP 5.8% DUE 03-15-2036SEDOL: BG49576

UNITEDHEALTH GROUP 6.625% DUE 11-15-2037SEDOL: B2PPW63


UTD PARCEL SVC INC 6.2% DUE 01-15-2038SEDOL: BG495L0


1,000,000.000 996,340.00 982,690.00

740,000.000 739,001.00 765,315.40

2,195,000.000 2,200,764.35 2,268,492.99

1,769,000.000 1,757,483.81 1,785,274.80

1,525,000.000 1,378,253.18 1,756,739.00

1,230,000.000 1,254,783.30 1,475,095.95

40,000.000 49,247.20 50,882.04

20,000.000 30,663.80 26,475.30

1,510,000.000 1,901,109.50 1,840,243.04

50,000.000 49,815.50 46,697.90

110,000.000 108,299.40 114,279.44

100,000.000 104,226.00 88,959.70

3,765,000.000 3,350,039.62 3,251,307.16


31 DEC 18





Corporate Debt Instruments - Other

United States - USD

Australia - USD

Belgium - USD

Page 160 of 321



Total Corporate Debt Instruments - Preferred 86,895,089.67 90,899,510.93


VISA INC 3.15% DUE 12-14-2025SEDOL: BYPHGN8

VISA INC 4.15% DUE 12-14-2035SEDOL: BYPHG16

VISA INC 4.3% DUE 12-14-2045SEDOL: BYPHFN1

WAL-MART STORES 4.3 DUE 04-22-2044SEDOL: BLS12B6

WALMART INC 5.25% DUE 09-01-2035SEDOL: B89WZZ2

WYETH NT 5.95 DUE 04-01-2037/03-27-2007 BEOSEDOL: B91ZLT2

WYETH 6.5% DUE 02-01-2034SEDOL: BCDPC98

XTO ENERGY INC 6.75% DUE 08-01-2037SEDOL: B23C8G8

3M CO MEDIUM TERM 5.7% DUE 03-15-2037SEDOL: B1VSN66

PVTPL COMMONWEALTH BANK AUST 3.9% 07-12-2047SEDOL: BF550C6

RIO TINTO FIN USA PLC 4.75 DUE 03-22-2042 REGSEDOL: B757MN1

ANHEUSER BUSCH INBEV FIN INC 4.625 DUE 02-01-2044 REGSEDOL: BJMZ1V3

ANHEUSER BUSCH INC 4.439% DUE 10-06-2048SEDOL: BF7MH35


140,000.000 138,314.10 124,907.58

425,000.000 422,850.50 380,910.50

380,000.000 376,830.80 352,411.24

2,870,000.000 2,918,865.02 2,661,594.95

400,000.000 394,284.00 369,704.00

450,000.000 447,592.50 439,372.80

205,000.000 203,396.90 190,972.88

1,325,000.000 1,536,032.75 1,531,162.05

400,000.000 400,000.00 389,228.40

380,000.000 379,874.60 374,730.92

1,000,000.000 998,640.00 1,006,884.00

500,000.000 498,810.00 483,845.00

100,000.000 99,686.00 111,611.90

500,000.000 492,665.00 495,170.50

320,000.000 318,553.60 305,883.20


31 DEC 18




Corporate Debt Instruments - OtherBelgium - USD

Brazil - USD

Canada - USD

Page 161 of 321


Total Belgium - USD 7,311,126.04 6,860,091.13

Total Brazil - USD 394,284.00 369,704.00

ANHEUSER-BUSCH 4.375% DUE 04-15-2038SEDOL: BDZ7GD1

ANHEUSER-BUSCH 4.6% DUE 04-15-2048SEDOL: BDZ78X5

PVTPL ANHEUSER-BUSCH COS LLC / ANHEUSER-BUSCH 4.7%02-01-2036 SEDOL: BGT0Q04

PVTPL ANHEUSER-BUSCH COS LLC/ANHEUSER-BUSCH 4.9%02-01-2046 SEDOL: BGT0PJ6

PVTPL BRASKEM NETH FIN B V NT 4.5% DUE 01-10-2028 BEOCUSIP: 10554TAB1

BK NOVA SCOTIA GTD 1.875% DUE 04-26-2021SEDOL: BYZZX64

GREAT-WEST LIFECO 4.15% DUE 06-03-2047CUSIP: 391382AB4

NOVA GAS TRANSM 7.875% DUE 04-01-2023SEDOL: 2538361

PVTPL BANK NOVA SCOTIA GTD 1.875% 09-20-2021CUSIP: 06416AAA0

ROYAL BK CDA 2.1% DUE 10-14-2020SEDOL: BZ02884

TORONTO DOMINION BK SR MEDIUM TERM BK NT3.5% DUE 07-19-2023CUSIP: 89114QC48

TORONTO DOMINION 1.8% DUE 07-13-2021SEDOL: BD3VN89

TRANSCANADA PIPELINES LTD 06/01/2010 6.106/01/2040SEDOL: B5SKD29

TRANSCANADA PIPELINES 4.25% DUE 05-15-2028SEDOL: BD366X0

TRANSCANADA 4.625% DUE 03-01-2034SEDOL: BLSP672


95,000.000 98,393.40 91,699.89

3,625,000.000 3,274,593.18 3,944,398.75

635,000.000 634,758.70 760,069.60

30,000.000 42,176.40 37,367.67

250,000.000 246,875.00 247,032.08

1,030,000.000 1,028,588.90 923,998.58

290,000.000 288,123.70 278,593.43

230,000.000 177,536.00 218,500.00

190,000.000 188,723.20 191,187.50

30,000.000 33,862.50 31,680.66

250,000.000 248,452.50 228,936.25


31 DEC 18




Corporate Debt Instruments - OtherCanada - USD

Cayman Islands - USD

China - USD

Colombia - USD

France - USD

Page 162 of 321


Total Canada - USD 9,425,173.03 10,162,397.56

Total Cayman Islands - USD 246,875.00 247,032.08

Total China - USD 1,316,712.60 1,202,592.01

Total Colombia - USD 366,259.20 409,687.50

TRANSCANADA 4.875% DUE 05-15-2048SEDOL: BD366Z2

TRANSCANADA 6.2% DUE 10-15-2037SEDOL: B287YY8

TRANSCANADA 7.25% DUE 08-15-2038SEDOL: B3CHMW5

TRANSCANADA 7.625% DUE 01-15-2039SEDOL: B3KV7R9

PVTPL LCM 27 LTD/LCM 27 LLC SER NT CLS A1 FLTG 144A DUE07-16-2031 CUSIP: 50200JAC5

ALIBABA GROUP HLDG LTD 4.0% 12-06-2037SEDOL: BF5BK80

PVTPL SINOPEC GRP OVERSEAS DEV (2017) 3.625% NTS04-12-2027 USD200000 '144A' CUSIP: 82938NAC8

ECOPETROL S A 4.125% DUE 01-16-2025SEDOL: BQS83J7

ECOPETROL S A 5.375% DUE 06-26-2026SEDOL: BYMXKQ0

ARCELORMITTAL STEP CPN 7.5% DUE 03-01-2041SEDOL: B9B9WZ7

PVTPL CREDIT AGRICOLE S A TIER 2 4.0% DUE 01-10-2033CUSIP: 225313AK1


1,425,000.000 1,382,991.00 1,262,715.30

130,000.000 129,311.00 126,727.77

895,000.000 892,010.22 804,374.09

80,000.000 117,421.07 109,323.20

250,000.000 249,112.50 246,582.50

235,000.000 259,900.60 320,400.18

465,000.000 502,851.00 481,217.34

1,435,000.000 1,423,505.65 1,402,769.90

200,000.000 199,006.00 150,593.80

112,000.000 112,000.00 111,968.75


31 DEC 18




Corporate Debt Instruments - OtherFrance - USD

Germany - USD

Hong Kong - USD

Italy - USD

Japan - USD

Page 163 of 321


Total France - USD 1,794,617.00 1,650,059.98

Total Germany - USD 1,258,543.79 1,160,279.79

Total Hong Kong - USD 259,900.60 320,400.18

Total Italy - USD 2,125,362.65 2,034,581.04

Total Japan - USD 112,000.00 111,968.75

PVTPL ELECTRICITE DE FRANCE NT 144A 5.0%DUE 09-21-2048CUSIP: 268317AT1

PVTPL WEA FIN LLC 4.625% 09-20-2048SEDOL: BFX7FK7

BAYER US FIN II 4.875% DUE 06-25-2048SEDOL: BD103H7

DAIMLERCHRYSLER N 8.5% DUE 01-18-2031SEDOL: B065ZJ2

PVTPL SIEMENS FINANCIERINGSMAATSCHAPPIJ N V 4.2%03-16-2047 CUSIP: 82620KAT0

PVTPL HUTCHISON WHAMPOA INTL 03/33 LTD GTD NT 144A 7.45%DUE 11-24-2033 BEO CUSIP: 44841SAC3

ENI S P A 5.7% DUE 10-01-2040CUSIP: 26874RAC2

PVTPL ENI S P A NT X 4.75% DUE 09-12-2028CUSIP: 26874RAE8

PVTPL INTESA SANPAOLO S P A RCPTS CL X 144A 4.375% DUE01-12-2048 BEO CUSIP: 46115HBE6

MITSUBISHI UFJ 4.286% DUE 07-26-2038SEDOL: BGB66Q6


330,000.000 324,215.10 314,160.00

460,000.000 458,420.00 444,861.40

360,000.000 375,279.93 423,834.84

340,000.000 338,317.00 294,950.00

500,000.000 557,437.50 515,560.00

2,130,000.000 2,232,224.10 2,459,591.94

390,000.000 386,997.00 400,783.50

180,000.000 181,837.80 173,819.34

495,000.000 492,505.20 532,725.93

180,000.000 206,610.77 198,140.40


31 DEC 18




Corporate Debt Instruments - OtherKazakhstan - USD

Kuwait - USD

Mexico - USD

Netherlands - USD

Norway - USD

Page 164 of 321


Total Kazakhstan - USD 324,215.10 314,160.00

Total Kuwait - USD 458,420.00 444,861.40

Total Mexico - USD 713,596.93 718,784.84

Total Netherlands - USD 3,358,496.40 3,549,754.78

Total Norway - USD 699,115.97 730,866.33

PVTPL KAZMUNAYGAS NATIONAL CO 5.75% DUE 04-19-2047 BEOCUSIP: 48667QAP0

EQUATE 4.25% DUE 11-03-2026CUSIP: 29441WAC9

AMER MOVIL SAB DE CV 6.125% 03-30-2040SEDOL: B8C3GC6

BBVA BANCOMER S A 5.125% DUE 01-18-2033CUSIP: 05533UAF5

COOPERATIEVE RABOBANK U A 5.25% DUE 08-04-2045 BEOCUSIP: 21684AAD8

SHELL INTL FIN B V GTD NT 5.5 DUE 03-25-2040SEDOL: B4XNLW2

SHELL INTL FIN B V 3.875% DUE 11-13-2028SEDOL: BFXPTR6

SHELL INTL FIN B V 4% DUE 05-10-2046SEDOL: BDB2XM8

STATOIL ASA 4.8 DUE 11-08-2043SEDOL: BLSP5J7

STATOIL ASA 5.1 DUE 08-17-2040SEDOL: B522X65


200,000.000 200,000.00 186,745.20

70,000.000 92,796.20 88,046.21

130,000.000 122,924.10 118,427.14

150,000.000 151,258.50 146,163.30

200,000.000 199,152.00 206,609.20

200,000.000 200,000.00 197,207.80

200,000.000 200,000.00 195,266.00

1,160,000.000 1,099,168.59 1,383,443.84

395,000.000 395,000.00 375,963.77

285,000.000 285,000.00 280,600.17

40,000.000 62,168.00 54,098.96

500,000.000 498,775.00 485,048.00

95,000.000 93,606.35 92,853.86


31 DEC 18




Corporate Debt Instruments - OtherSpain - USD

Switzerland - USD

United Arab Emirates - USD


Page 165 of 321


Total Spain - USD 200,000.00 186,745.20


Total United Arab Emirates - USD 200,000.00 195,266.00

BANCO SANTANDER SA FORMERLY BANCO SANTA 4.379% DUE04-12-2028 REG SEDOL: BYWFD56

CR SUISSE 1ST BSTN 7.125% DUE 07-15-2032SEDOL: 2970208

GLENCORE FDG LLC 4% DUE 03-27-2027SEDOL: BYQ47H9

PVTPL SWISS RE TREAS US CORP SR NT 144A 4.25% DUE12-06-2042 BEO SEDOL: B92NKN2

PVTPL UBS AG LONDON BRH 4.5% DUE 06-26-2048CUSIP: 902674XN5

PVTPL UBS GROUP FDG SWITZ AG SR 4.253% DUE03-23-2028 CUSIP: 90352JAC7

PVTPL ABU DHABI CRUDE OIL PIPELINE LLC SR SECD BD SER B144A 4.6% 11-02-2047 CUSIP: 00401MAB2

ASTRAZENECA PLC 6.45% DUE 09-15-2037SEDOL: B7FFL50

BP CAP MKTS P L C 3.279% 09-19-2027SEDOL: BZ9P8G2

BP CAP MKTS P L C 3.723% DUE 11-28-2028SEDOL: BZ6CXN8

BRITISH TELECOMMUNICATIONS P L C NT STEPUP 12-15-203012-12-2000 SEDOL: B23XQ67

DIAGEO CAP PLC 2.625% DUE 04-29-2023SEDOL: B8NXVL9

DIAGEO CAP PLC 3.875% DUE 04-29-2043SEDOL: B8NXVQ4


830,000.000 835,034.38 818,726.11

1,350,000.000 1,350,000.00 1,338,171.30

200,000.000 221,418.00 198,236.80

4,045,000.000 3,830,001.20 4,584,457.38

240,000.000 235,500.00 218,100.00

210,000.000 210,000.00 186,799.83

1,045,000.000 1,027,067.80 1,078,398.20

60,000.000 60,415.20 59,474.40

145,000.000 144,998.55 145,700.50

328,441.860 32.84 206.92

160,000.000 159,665.57 150,213.76

65,000.000 63,767.60 60,905.78

170,000.000 158,623.60 172,446.81

70,000.000 65,506.70 72,590.77

80,000.000 79,488.00 83,514.88

120,000.000 119,065.20 125,966.88

80,000.000 88,048.00 88,214.24


31 DEC 18




Corporate Debt Instruments - OtherUnited Kingdom - USD

United States - USD

Page 166 of 321



HSBC HLDGS PLC 4.3% DUE 03-08-2026SEDOL: BZ57YZ3

HSBC HLDGS PLC 4.583% 06-19-2029SEDOL: BD36V02

HSBC HLDGS PLC 5.25% DUE 03-14-2044SEDOL: BKS7XY7

HSBC HLDGS PLC 6.5% DUE 09-15-2037SEDOL: BFN0JF9

HSBC HLDGS PLC 6.5% DUE 12-29-2999CUSIP: 404280BP3

LLOYDS BKG GROUP FLTG RT 3.574% 11-07-2028SEDOL: BF92VV9

PVTPL BG ENERGY CAP PLC GTD NT 144A 5.125% DUE10-15-2041 BEO CUSIP: 05541VAF3

PVTPL GLENCORE FDG LLC GTD NT 4.625 DUE 04-29-2024 BEOSEDOL: BLTW6B6

PVTPL NIAGARA MOHAWK PWR CORP NEW SR NT 4.278% DUE10-01-2034 BEO SEDOL: BQH0Y46

PVTPL SIGMA FIN INC NT 0 DUE 12-31-2040IN DEFAULT CUSIP: 8265Q0XQ0

VODAFONE GROUP PLC 5.25% DUE 05-30-2048SEDOL: BFMLP22

VODAFONE GROUP PLC 5% DUE 05-30-2038SEDOL: BFMLP11

ABB FIN USA INC 4.375 DUE 05-08-2042SEDOL: BB0R331

ABBOTT LABS 4.75% 04-15-2043SEDOL: BD6NWW9

ABBOTT LABS 4.75% DUE 11-30-2036SEDOL: BYVQ5V0

ABBOTT LABS 4.9% DUE 11-30-2046SEDOL: BYQHX58

ABBOTT LABS 5.3 DUE 05-27-2040SEDOL: B91ZLX6


50,000.000 59,801.00 60,257.10

2,000,000.000 1,986,180.00 1,850,214.00

270,000.000 267,146.10 251,908.65

481,573.930 489,775.74 489,362.43

1,440,000.000 1,436,529.60 1,320,577.92

80,000.000 79,745.60 67,730.88

815,000.000 811,206.15 777,603.73

140,000.000 171,420.20 164,195.08

100,000.000 136,049.90 120,827.50

120,000.000 119,208.00 122,453.40

100,000.000 119,211.00 111,073.50

1,000,000.000 998,880.00 953,289.00

85,000.000 84,323.40 83,158.82

776,000.000 770,156.72 777,251.69

121,000.000 147,687.03 145,137.93

90,000.000 103,120.20 102,036.60

200,000.000 186,356.00 152,343.20

2,000,000.000 1,994,820.00 1,943,914.00


31 DEC 18




Corporate Debt Instruments - OtherUnited States - USD

Page 167 of 321


ABBOTT LABS 6.15% DUE 11-30-2037SEDOL: B922PX4

ABBVIE INC FIXED 4.5% DUE 05-14-2035SEDOL: BXDZFY1

ABBVIE INC 4.875% DUE 11-14-2048SEDOL: BGQW2K5

AEP TEX CENT FLTG RT 5.3063% DUE 07-01-2020CUSIP: 00110AAE4

AEP TRANSM CO LLC 3.75% DUE 12-01-2047SEDOL: BG88DM0

AETNA INC NEW 3.875% DUE 08-15-2047SEDOL: BDF0M43

AETNA INC NEW 4.75% DUE 03-15-2044SEDOL: BK1KRP2

AETNA INC NEW 6.625 DUE 06-15-2036 BEOSEDOL: BG48N91

AETNA INC NEW 6.75% DUE 12-15-2037SEDOL: BBJNFJ0

AFLAC INC 4.75% DUE 01-15-2049SEDOL: BGYTGT5

AHS HOSP CORP 5.024% DUE 07-01-2045SEDOL: BFCBR60

ALABAMA PWR CO 2.8% DUE 04-01-2025SEDOL: BWVC655

ALABAMA PWR CO 4.15% DUE 08-15-2044SEDOL: BQ5C541

ALABAMA PWR CO 4.3% 07-15-2048SEDOL: BD2Z1R7

ALABAMA PWR CO 6% DUE 03-01-2039SEDOL: B4QV918

ALLSTATE CORP 5.55 DUE 05-09-2035 BEOSEDOL: B08B1V2

ALTRIA GROUP INC 3.875% DUE 09-16-2046SEDOL: BD91617

AMAZON COM INC FIXED 2.8% DUE 08-22-2024SEDOL: BF2G3S9


130,000.000 129,676.30 125,548.15

305,000.000 302,505.10 296,350.51

210,000.000 209,624.10 202,751.22

150,000.000 149,015.10 146,564.85

100,000.000 98,236.00 110,862.70

24.350 0.00 32.39

161,656.230 161,656.23 159,051.46

149,955.020 149,955.02 148,807.86

120,000.000 107,281.20 113,072.76

165,000.000 168,917.10 148,055.82

250,000.000 249,245.00 227,803.25

1,000,000.000 1,000,000.00 980,136.00

600,000.000 600,444.68 558,025.80

1,086,000.000 1,140,571.50 1,063,652.29

37,000.000 38,250.97 36,936.77

1,365,000.000 1,353,807.00 1,254,346.28

1,000,000.000 999,160.00 1,004,740.00

1,020,000.000 976,079.90 965,918.58


31 DEC 18





Page 168 of 321


AMAZON COM INC FIXED 3.875% DUE 08-22-2037SEDOL: BF199R0

AMAZON COM INC FIXED 4.25% DUE 08-22-2057SEDOL: BDGMR10

AMAZON COM INC 3.15% DUE 08-22-2027 BEOSEDOL: BDGMR43

AMAZON COM INC 4.05% 08-22-2047SEDOL: BFMLMY3

AMAZON COM INC 4.95% DUE 12-05-2044CUSIP: 023135AQ9

AMBAC ASSURN CORP 5.1% DUE 06-07-2020SEDOL: B8D0LR6

AMERICAN AIRLS 2017-1 CL AA PASS THRU TR3.65% DUE08-15-2030 SEDOL: BDDXT10

AMERN AIRLS 2013-1A PASS THRU CTF CL A 407-15-2025SEDOL: BPBGFV7

AMERN EXPRESS CO 4.05% DUE 12-03-2042SEDOL: B968SP1

AMERN FINL GROUP 4.5% DUE 06-15-2047SEDOL: BF3BYD5

AMERN HONDA FIN 2.3% DUE 09-09-2026SEDOL: BD8F5P7

ANTHEM INC 4.101% 03-01-2028SEDOL: BFXCMT0

ANTHEM INC 4.375% 12-01-2047SEDOL: BGB6FT2

APACHE CORP 3.25 DUE 04-15-2022 REGSEDOL: B73KYD6

APACHE CORP 3.625% DUE 02-01-2021SEDOL: B46MG43

APPLE INC FIXED 3.75% 11-13-2047CUSIP: 037833DG2

APPLE INC 3.45% DUE 05-06-2024SEDOL: BM6NV92

APPLE INC 3.85% DUE 05-04-2043CUSIP: 037833AL4


265,000.000 257,834.89 246,445.50

455,000.000 454,080.90 453,412.96

1,885,000.000 1,878,119.75 1,914,345.68

925,000.000 935,845.35 955,461.18

210,000.000 209,013.00 220,837.47

910,000.000 914,184.70 963,269.58

120,000.000 123,660.00 125,967.36

58,000.000 50,932.19 49,926.11

16,000.000 16,181.26 15,543.52

95,000.000 94,524.05 95,452.30

90,000.000 87,129.00 86,216.67

125,000.000 124,765.00 120,581.13

1,815,000.000 1,811,624.10 1,796,606.79

640,000.000 637,433.60 606,993.92

50,000.000 59,085.00 47,639.80

120,000.000 120,000.00 98,886.24

115,000.000 114,894.20 102,054.57

145,000.000 159,621.80 139,349.64


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APPLE INC 3.85% DUE 08-04-2046SEDOL: BDCWWV9

APPLE INC 4.25% DUE 02-09-2047SEDOL: BDVPX83

APPLE INC 4.375% DUE 05-13-2045SEDOL: BXC5WP2

APPLE INC 4.45% DUE 05-06-2044SEDOL: BM6NVC5

APPLE INC 4.5% DUE 02-23-2036SEDOL: BYXT6Z8

APPLE INC 4.65% DUE 02-23-2046CUSIP: 037833BX7

ARIZONA PUB SVC CO 4.7 DUE 01-15-2044SEDOL: BHZLVH0

AT&T INC 4.55% DUE 03-09-2049SEDOL: BD3HCX5

AT&T INC 5.35% DUE 09-01-2040SEDOL: B4WPQV3

ATMOS ENERGY CORP FIXED 4.3% DUE 10-01-2048SEDOL: BG5J542

ATMOS ENERGY CORP SR NT 4.15 DUE 01-15-2043SEDOL: B98ZZP9

ATMOS ENERGY CORP 4.125% DUE 10-15-2044SEDOL: BRJ8Y23

AVALONBAY CMNTYS INC MEDIUM TERM 4.35% 04-15-2048CUSIP: 05348EBE8

AVALONBAY 3.2% DUE 01-15-2028SEDOL: BD5W7Z5

BAKER HUGHES A GE CO LLC 5.125% DUE 09-15-2040SEDOL: B57Y827

BAKER HUGHES A GE CO LLC/BAKER HUGHES 4.08% 12-15-2047SEDOL: BG0PVG9

BALT GAS & ELEC CO 3.5% DUE 08-15-2046SEDOL: BD3BW60

BANK AMER CORP BNDS 4.443% 01-20-2048SEDOL: BYMX8C2


500,000.000 500,000.00 485,050.50

1,320,000.000 1,337,157.35 1,255,710.72

1,359,000.000 1,406,921.85 1,269,509.85

1,535,000.000 1,532,436.55 1,477,185.76

580,000.000 580,000.00 516,611.80

105,000.000 104,393.10 121,872.03

950,000.000 949,525.00 923,741.05

210,000.000 216,285.43 207,359.04

270,000.000 278,089.20 282,384.63

140,000.000 140,000.00 131,677.70

135,000.000 133,888.95 121,166.01

390,000.000 388,022.70 386,699.43

1,660,000.000 1,648,280.40 1,713,984.86

1,270,000.000 1,270,000.00 1,239,193.61

1,000,000.000 997,860.00 982,299.00

500,000.000 497,975.00 488,596.00

55,000.000 51,031.75 50,648.07

1,190,000.000 1,655,635.58 1,619,660.21


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BANK AMER CORP FIXED 3.824% 01-20-2028SEDOL: BYM4WN4

BANK AMER CORP FLTG RT 4.244% DUE 04-24-2038SEDOL: BYWC0C3

BANK AMER CORP 3.419% 12-20-2028SEDOL: BF50RK8

BANK AMER CORP 3.5% DUE 04-19-2026SEDOL: BYM7C88

BANK AMER CORP 3.946% DUE 01-23-2049SEDOL: BD49X71

BANK AMER CORP 5.875% DUE 02-07-2042SEDOL: B8WR844

BANK NEW YORK MELLON CORP MEDIUM TERM SR NT BOOK ENTRY 3.4%01-29-2028 SEDOL: BF5DPL4

BANK 2017-BNK6 3.518% DUE 07-15-2060SEDOL: BDZ7W66

BBCMS MTG TR 4.314% DUE 12-15-2051CUSIP: 05491UBD9

BECTON DICKINSON & 4.669% DUE 06-06-2047SEDOL: BF2KB43

BERKSHIRE HATHAWAY ENERGY CO 3.8% 07-15-2048SEDOL: BG0JBZ0

BERKSHIRE HATHAWAY FIN CORP 4.2% DUE 08-15-2048 REGSEDOL: BYW5431

BIOGEN INC 5.2% DUE 09-15-2045SEDOL: BYNPNY4

BK NEW YORK MELLON CORP 3.442% DUE02-07-2028/02-07-2027 REG SEDOL: BDCL4P4

BK NEW YORK MELLON 2.6% DUE 02-07-2022SEDOL: BDCL4Q5

BLACKROCK INC 3.2% DUE 03-15-2027SEDOL: BD9C3T7

BOEING CO FIXED 3.625% DUE 03-01-2048CUSIP: 097023BZ7

BOEING CO 6.875% DUE 03-15-2039SEDOL: BC7H609


500,000.000 494,990.00 485,504.00

80,000.000 78,497.60 84,113.36

1,430,000.000 1,494,085.90 1,386,417.89

405,000.000 412,913.70 404,113.86

250,000.000 247,142.50 241,944.25

310,000.000 310,149.30 327,860.96

1,000,000.000 997,690.00 972,868.00

2,065,000.000 2,037,806.06 2,042,295.33

1,000,000.000 1,000,000.00 939,057.00

340,000.000 337,501.00 329,444.36

1,000,000.000 999,810.00 999,284.00

140,000.000 123,951.80 126,638.26

1,000,000.000 997,590.00 973,272.00

500,000.000 495,165.00 476,574.00

60,000.000 59,355.00 63,484.02

55,000.000 54,597.40 50,030.15

150,000.000 196,845.00 181,656.60

110,000.000 109,820.70 91,847.14


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BP CAP MKTS AMER FIXED 2.75% DUE 05-10-2023SEDOL: BHS8N72

BROWN FORMAN CORP 4.5% DUE 07-15-2045SEDOL: BYX0316

BURL NORTHN SANTA 4.15% DUE 04-01-2045SEDOL: BD04808

BURL NORTHN SANTA 4.375% DUE 09-01-2042SEDOL: B8NWVK5

BURLINGTON NORTHERN SANTA FE LLC 4.125% DEB SNR 06-15-2047USD SEDOL: BYXD4B2

CA INST TECH 4.7% DUE 11-01-2111SEDOL: B795LF6

CAMERON INTL CORP CORP BD 3.7 DUE 06-15-2024SEDOL: BNGN531

CAP 1 MULTI-ASSET 2% DUE 01-17-2023CUSIP: 14041NFK2

CARDINAL HLTH INC 3.079% DUE 06-15-2024SEDOL: BZ4DM81

CAROLINA PWR & LT 4.1% DUE 03-15-2043SEDOL: B8L5GP6

CATERPILLAR FINL 2.95% DUE 05-15-2020SEDOL: BDT8TK8

CATHOLIC HEALTH INITIATI 4.35 DUE 11-01-2042SEDOL: B8BB1R1

CBOE GLOBAL MKTS 3.65% DUE 01-12-2027SEDOL: BYPJTR9

CBS CORP NEW 3.5% DUE 01-15-2025SEDOL: BYN3M07

CENTERPOINT ENERGY 4.5% DUE 04-01-2044SEDOL: BKRW213

CH & DWIGHT INC 3.95% DUE 08-01-2047SEDOL: BF0CDS9

CHUBB CORP 6% DUE 05-11-2037SEDOL: B1XD1V0

CIGNA CORP 3.875% 10-15-2047SEDOL: BF58H57


1,000,000.000 994,970.00 1,021,784.00

1,215,000.000 1,292,397.03 1,495,897.07

1,000,000.000 999,120.00 932,182.00

115,000.000 112,054.85 135,691.84

1,475,000.000 1,473,795.96 1,547,863.53

2,115,000.000 2,084,917.97 2,088,023.18

1,355,000.000 1,328,429.29 1,332,918.92

255,000.000 262,643.27 259,021.61

1,000,000.000 998,880.00 986,705.00

500,000.000 499,335.00 480,732.00

140,000.000 139,932.80 136,824.24

1,820,000.000 1,820,750.40 1,682,515.38

50,000.000 50,000.00 52,469.45

575,000.000 685,962.84 649,866.73

110,000.000 110,000.00 108,415.12

110,000.000 110,000.00 129,140.00

60,000.000 59,843.35 70,026.90

20,000.000 19,996.80 20,268.40


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CIGNA CORP 4.5 DUE 03-15-2021SEDOL: B44QJ82

CISCO SYS INC SR NT 5.9 DUE 02-15-2039 REGCUSIP: 17275RAD4

CISCO SYS INC 2.5% DUE 09-20-2026SEDOL: BD8GNP6

CISCO SYS INC 5.5% DUE 01-15-2040CUSIP: 17275RAF9

CITIBANK CR CARD ISSUANCE TR NT CL 2018-A7 3.96%10-13-2030 CUSIP: 17305EGS8

CITIBANK CR CARD ISSUANCE TR SR 2017-A3 CL-A3 0.0% DUE04-07-2022 SEDOL: BG0J6N3

CITIBANK CR CARD 1.86% DUE 08-08-2022CUSIP: 17305EGG4

CITIGROUP COML MTG 4.009% DUE 03-10-2051CUSIP: 17327FAD8

CITIGROUP INC 2.65% DUE 10-26-2020SEDOL: BZ0D939

CITIGROUP INC 3.7% DUE 01-12-2026SEDOL: BYQ02K5

CITIGROUP INC 4.65% DUE 07-23-2048SEDOL: BFMLH37

CITIGROUP INC 4.75% DUE 05-18-2046SEDOL: BDGLCL2

CITIGROUP INC 5.5% DUE 09-13-2025SEDOL: BDT7Y00

CITIGROUP INC 5.875 DUE 01-30-2042SEDOL: B8WTN90

CITY OF HOPE 4.378% DUE 08-15-2048CUSIP: 17858PAB7

CITY OF HOPE 5.623% DUE 11-15-2043SEDOL: BCGD4C6

CME GROUP INC 5.3 09-15-2043SEDOL: BDDY861

CME GROUP INC 3.75% DUE 06-15-2028SEDOL: BFNJ462


20,000.000 19,908.20 20,256.04

160,000.000 164,798.43 157,743.20

500,000.000 499,630.00 501,583.00

100,000.000 100,000.00 101,900.00

200,000.000 198,636.00 190,097.80

2,217,000.000 1,924,032.53 1,981,672.10

210,000.000 176,080.64 188,172.81

1,000,000.000 998,120.00 956,814.00

125,000.000 124,393.75 115,713.13

450,000.000 345,540.88 403,869.60

4,320,000.000 4,652,417.95 4,165,335.36

350,000.000 354,686.50 347,611.25

280,000.000 280,068.00 283,166.24

70,000.000 78,783.60 67,717.72

600,000.000 597,527.66 605,866.80

140,000.000 155,187.89 138,532.24

350,000.000 346,899.00 350,560.70

510,000.000 510,097.78 518,492.01


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CMO MORGAN STANLEY BAML TST SER 13-C7 CLA4 2.918% DUE02-15-2046 BEO SEDOL: B8HW899

CMS ENERGY CORP 3.875 DUE 03-01-2024SEDOL: BK1Q352

CN LT & PWR CO 4.3% DUE 04-15-2044SEDOL: BLRVSV9

COLGATE-PALMOLIVE CO 3.7% DUE 08-01-2047SEDOL: BF7TQ51

COMCAST CORP NEW FIXED 3.969% DUE 11-01-2047SEDOL: BFWQ3V2

COMCAST CORP NEW FIXED 3.999% DUE 11-01-2049SEDOL: BFW31L9

COMCAST CORP NEW 3.15% DUE 03-01-2026CUSIP: 20030NBS9

COMCAST CORP NEW 3.9% DUE 03-01-2038SEDOL: BFY1N04

COMCAST CORP NEW 4.049% DUE 11-01-2052SEDOL: BFWQ3S9

COMCAST CORP NEW 4.2% DUE 08-15-2034SEDOL: BPYD9Q8

COMCAST CORP NEW 4.25% DUE 01-15-2033SEDOL: B92PSY5

COMCAST CORP NEW 4.25% DUE 10-15-2030CUSIP: 20030NCU3

COMCAST CORP NEW 4.4% DUE 08-15-2035SEDOL: BY58YR1

COMCAST CORP NEW 4.6% 10-15-2038CUSIP: 20030NCL3

COMCAST CORP NEW 4.65% DUE 07-15-2042SEDOL: B7TGGL0

COMCAST CORP NEW 4.75% DUE 03-01-2044SEDOL: BJZXTF4

COMCAST CORP NEW 4.95% DUE 10-15-2058SEDOL: BGGFK99


500,000.000 653,200.00 548,141.00

250,000.000 229,725.00 299,252.00

1,315,000.000 1,607,732.15 1,633,646.86

1,120,000.000 1,112,296.06 1,132,186.72

195,000.000 200,833.22 187,980.59

3,020,000.000 3,012,450.00 2,768,536.68

240,000.000 239,954.40 231,516.24

195,000.000 193,734.45 176,526.48

180,000.000 180,000.00 165,675.42

40,000.000 38,722.40 50,351.52

100,000.000 99,699.30 95,682.90

3,725,000.000 3,699,074.00 3,489,732.73

20,000.000 19,825.80 18,609.10

155,000.000 154,246.70 181,024.66

310,000.000 410,089.70 372,414.78

114,000.000 151,817.22 145,453.97

105,000.000 103,919.55 103,538.09

50,000.000 49,568.50 49,759.55


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COMCAST CORP NEW 5.65% DUE 06-15-2035SEDOL: B0B7ZQ0

COMCAST CORP NEW 6.5% DUE 11-15-2035CUSIP: 20030NAK7

COMCAST CORP NEW 7.05% DUE 03-15-2033SEDOL: 2470065

COMCAST CORP 4.7% 10-15-2048SEDOL: BGV15K8

COMM 2016-667M MTG 3.14% DUE 10-10-2036CUSIP: 12636GAA9

COMMONWEALTH EDISON CO 3.75% 08-15-2047SEDOL: BDT5L92

COMMONWEALTH EDISON CO 4.0% DUE 03-01-2048 REGSEDOL: BFYRPY0

COMWLTH EDISON CO 3.65% DUE 06-15-2046SEDOL: BYQHP74

COMWLTH EDISON CO 3.7% DUE 03-01-2045SEDOL: BW01ZS9

COMWLTH EDISON CO 6.45% DUE 01-15-2038SEDOL: BG48VJ7

CONCHO RES INC 4.85% DUE 08-15-2048SEDOL: BFWS329

CONS EDISON CO N Y 3.95% DUE 03-01-2043SEDOL: B8MJ1K7

CONS EDISON CO N Y 4.3% DUE 12-01-2056SEDOL: BD3GJ31

CONS EDISON CO N Y 5.7% DUE 06-15-2040SEDOL: B5M23K9

CONS EDISON CO N Y 6.2% DUE 06-15-2036SEDOL: B1723Q2

CONS EDISON CO N Y 6.75% DUE 04-01-2038SEDOL: B2QQX95

CONSUMERS ENERGY 4.05% DUE 05-15-2048SEDOL: BD2NLC6

CONSUMERS ENERGY 4.35% DUE 08-31-2064SEDOL: BQ11N15


70,000.000 69,973.40 58,751.07

1,000,000.000 999,150.00 998,710.00

1,000,000.000 994,990.00 1,022,140.00

110,000.000 107,913.69 121,096.25

500,000.000 495,695.00 455,410.50

320,000.000 314,552.90 306,641.92

155,000.000 154,116.50 150,754.55

50,000.000 50,000.00 48,393.35

500,000.000 499,045.00 479,529.50

500,000.000 498,055.00 472,522.50

100,000.000 98,164.00 75,418.70

1,000,000.000 1,075,600.00 1,000,985.00

150,000.000 137,575.50 152,227.50

1,180,000.000 1,179,968.49 1,194,370.04

70,000.000 69,559.00 69,013.84

30,000.000 29,928.60 30,174.21

250,000.000 254,455.00 279,062.25

1,365,000.000 1,362,938.85 1,404,373.43


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CORNING INC 4.375% 11-15-2057SEDOL: BF8QCP3

CSX CORP 3.4% DUE 08-01-2024SEDOL: BR30B24

CSX CORP 4.25% DUE 06-01-2021SEDOL: B5TTGV5

CUMMINS INC 4.875% DUE 10-01-2043SEDOL: BF262M6

CVS HEALTH CORP 2.875% DUE 06-01-2026SEDOL: BD72463

CVS HEALTH CORP 4.78% DUE 03-25-2038SEDOL: BF4JK96

CVS HEALTH CORP 5.05% DUE 03-25-2048SEDOL: BF4JKH4

DARTMOUTH-HITCHCOC 4.178% 08-01-2048SEDOL: BG04CD0

DEERE JOHN CAP 2.65% DUE 06-24-2024SEDOL: BF47164

DEERE JOHN CAP 2.8% DUE 09-08-2027SEDOL: BF58H79

DEFAULTED PACIFIC GAS & ELEC CO 0.0% 12-31-2040SEDOL: BYWFCM6

DEVON ENERGY CORP 4% DUE 07-15-2021SEDOL: B4VBBG2

DIAGEO INVT CORP 4.25% DUE 05-11-2042SEDOL: BBM4R38

DISCOVER CARD 3.32% DUE 03-15-2024CUSIP: 254683CH6

DOMINION ENERGY GAS HLDGS LLC 4.6% DUE 12-15-2044SEDOL: BT9Z2H9

DOMINION GAS HLDGS 4.8% DUE 11-01-2043SEDOL: BPYPLR9

DOMINION RES INC 5.95% DUE 06-15-2035SEDOL: B0BSGX7

DTE ELEC CO 4.3% DUE 07-01-2044SEDOL: BNJ3505


360,000.000 400,850.92 448,831.08

95,000.000 94,861.30 86,286.60

50,000.000 49,930.50 49,784.10

10,000.000 9,954.70 10,823.85

100,000.000 99,493.00 99,228.40

4,265,000.000 3,968,960.84 5,116,379.30

50,000.000 50,000.00 48,805.15

340,000.000 338,160.60 332,413.24

150,000.000 156,406.80 146,004.75

120,000.000 119,282.40 109,234.20

55,000.000 54,914.20 55,635.42

80,000.000 79,892.00 70,910.40

1,000,000.000 996,810.00 989,457.00

50,000.000 49,785.50 47,205.30

1,000,000.000 997,548.00 1,019,117.00

500,000.000 497,335.00 506,766.50

1,000,000.000 1,000,000.00 975,567.00

170,000.000 168,927.30 169,729.87


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DUKE ENERGY CORP 6.45% DUE 10-15-2032SEDOL: 2026587

DUKE ENERGY FIXED 3.7% DUE 12-01-2047SEDOL: BDRYRQ0

DUKE ENERGY FLA 4.2% DUE 07-15-2048SEDOL: BYZMHG3

DUKE ENERGY IND 4.9 DUE 07-15-2043SEDOL: BBWX683

DUKE ENERGY 4.2% DUE 08-15-2045SEDOL: BYV3CD2

DUKE ENERGY 6.1% DUE 06-01-2037SEDOL: B1YBZM2

DUKE UNIV HLTH SYS 3.92% DUE 06-01-2047SEDOL: BZ4DLN9

ELI LILLY & CO 3.95% 05-15-2047SEDOL: BDVJY26

ENERGY TRANSFER 5.8% DUE 06-15-2038CUSIP: 29278NAD5

ENTERGY LA LLC 3.05% DUE 06-01-2031SEDOL: BD72474

ENTERGY LA LLC 4.0% 03-15-2033SEDOL: BD36VT1

ENTERPRISE PRODS OPER LLC 4.25% 02-15-2048SEDOL: BFY1ZL9

ENTERPRISE PRODS 3.75% DUE 02-15-2025SEDOL: BRKFLN3

EOG RES INC FIXED 3.9% DUE 04-01-2035SEDOL: BWCN5Z0

EQT CORP 4.875% DUE 11-15-2021SEDOL: B75M3Y4

EXPRESS SCRIPTS 4.5% DUE 02-25-2026SEDOL: BGPYWQ8

EXXON MOBIL CORP 3.043% DUE 03-01-2026SEDOL: BYYD0F7

FIRSTENERGY CORP 4.85% 07-15-2047SEDOL: BDC3P80


220,000.000 217,514.00 209,355.96

145,000.000 144,217.00 141,613.09

1,880,000.000 1,866,434.18 1,866,809.92

510,000.000 504,334.57 504,561.36

2,040,000.000 2,038,959.60 1,879,199.04

3,006,000.000 2,270,600.12 2,517,726.40

1,000,000.000 993,050.00 1,000,809.00

705,000.000 959,693.25 737,080.32

132,000.000 148,765.32 132,340.82

250,000.000 345,665.30 243,860.25

400,000.000 399,884.00 396,515.20

105,000.000 117,989.42 109,438.46

1,000,000.000 995,800.00 919,425.00

380,000.000 377,526.20 349,170.22

2,000,000.000 1,990,578.40 1,842,282.01

225,000.000 230,574.81 216,383.63

160,000.000 163,548.80 161,542.88

1,915,000.000 1,908,250.85 1,899,856.18


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FL PWR & LT CO 3.8% DUE 12-15-2042SEDOL: B84TPY7

FL PWR & LT CO 3.95% 03-01-2048SEDOL: BG1V081

FORD CR AUTO OWNER 2.31% DUE 04-15-2026SEDOL: BDHDM95

FORD CR FLOORPLAN 1.95% DUE 11-15-2021SEDOL: BG21HT0

GA PWR CO SR NT SER 2012A 4.3 DUE 03-15-2042SEDOL: B78K6L3

GE CAP INTL FDG CO 4.418% DUE 11-15-2035SEDOL: BYNWXZ6

GEN DYNAMICS CORP 3% DUE 05-11-2021SEDOL: BZ5YFG2

GEN ELEC CAP CORP MEDIUM TERM NTS BO TRANCHE # TR 008186.875 DUE 01-10-2039 SEDOL: B7XW2Z0

GEN ELEC CAP CORP 4.625 DUE 01-07-2021 REGSEDOL: B3V4ST6

GEN ELEC CAP CORP 6.15% DUE 08-07-2037SEDOL: BCZSZ30

GEN MTRS FINL CO 2.35% DUE 10-04-2019SEDOL: BD0DS94

GENERAL ELEC CAP CORP TRANCHE # TR 005286.75% DUE03-15-2032/03-20-2002 SEDOL: BG48W16

GENERAL MLS INC 3.2% 02-10-2027SEDOL: BYQ8GZ2

GEORGIA PWR CO 4.3% DUE 03-15-2043SEDOL: B9LV101

GILEAD SCIENCES 4.15% DUE 03-01-2047CUSIP: 375558BK8

GILEAD SCIENCES 4.5% DUE 02-01-2045SEDOL: BSNBJW0

GILEAD SCIENCES 4.6% DUE 09-01-2035CUSIP: 375558BG7

GILEAD SCIENCES 4.75% DUE 03-01-2046CUSIP: 375558BD4


585,000.000 589,275.11 586,734.53

295,000.000 293,318.50 268,927.90

100,000.000 126,740.00 110,479.10

1,280,000.000 1,276,877.34 1,277,788.16

1,095,000.000 1,066,974.60 963,606.57

340,000.000 336,882.20 314,041.34

2,010,000.000 2,010,000.00 1,868,033.70

400,000.000 398,712.00 382,708.80

310,000.000 336,636.00 294,954.46

890,000.000 1,035,010.71 1,015,095.74

2,450,000.000 2,515,475.01 2,766,745.80

445,000.000 444,639.55 457,188.55

250,000.000 247,587.50 246,022.75

90,000.000 97,003.94 88,365.33

140,000.000 139,984.70 138,193.58

1,500,000.000 1,496,100.00 1,407,865.50

325,000.000 319,481.50 335,526.75

70,000.000 86,672.60 66,450.51


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GILEAD SCIENCES 4.8% DUE 04-01-2044SEDOL: BKHDRD3

GILEAD SCIENCES 4% DUE 09-01-2036CUSIP: 375558BJ1

GILEAD SCIENCES 5.65% DUE 12-01-2041SEDOL: B6S0304

GM FINL CNSMR 2.74% DUE 07-16-2021CUSIP: 36255JAB0

GOLDMAN SACHS FLTG RT 4.017% DUE 10-31-2038SEDOL: BYZKX58

GOLDMAN SACHS 3.5% DUE 11-16-2026SEDOL: BZ12537

GOLDMAN SACHS 3.691% DUE 06-05-2028SEDOL: BF6Q761

GOLDMAN SACHS 3.75% DUE 05-22-2025SEDOL: BY58YX7

GOLDMAN SACHS 4.75% DUE 10-21-2045SEDOL: BYNZDD3

GOLDMAN SACHS 6.25% DUE 02-01-2041SEDOL: B920YP3

GOLDMAN SACHS 6.75% DUE 10-01-2037SEDOL: B9CMD63

GRAINGER W W INC FIXED 4.6% DUE 06-15-2045SEDOL: BYZWY62

GUARDIAN LIFE INS 4.85% DUE 01-24-2077SEDOL: BYMXNV6

HALLIBURTON CO 5% DUE 11-15-2045SEDOL: BYNR4N6

HERTZ VEH FING II 3.29% DUE 02-20-2024CUSIP: 42806DBQ1

HOME DEPOT INC 2.8% DUE 09-14-2027SEDOL: BDH44D6

HOME DEPOT INC 4.5% DUE 12-06-2048SEDOL: BHQFF46

HONEYWELL INTL INC FIXED 3.812% DUE 11-21-2047SEDOL: BG0PV14


750,000.000 747,300.00 701,491.50

460,000.000 460,977.29 502,644.76

550,000.000 635,468.50 690,275.30

30,000.000 30,274.20 29,309.52

160,000.000 164,119.30 160,126.08

390,000.000 389,968.06 390,490.23

1,000,000.000 1,007,410.00 976,108.00

2,080,000.000 2,049,611.20 2,265,486.08

450,000.000 442,966.50 416,950.65

120,000.000 119,164.80 109,508.88

140,000.000 139,585.60 114,246.86

60,000.000 59,656.80 58,972.44

110,000.000 110,000.00 109,344.18

1,000,000.000 996,680.00 971,169.00

2,052,000.000 1,999,483.73 1,899,985.80

95,000.000 94,448.05 91,183.47

95,000.000 94,464.20 92,311.41

300,000.000 297,966.50 293,658.00


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HONEYWELL INTL INC 2.5% DUE 11-01-2026SEDOL: BD828P9

HSBC BK USA N A GLOBAL MEDIUM TERM SUB BNT 5.625 DUE08-15-2035 SEDOL: BG48WF0

HSBC BK USA N A 7 DUE 01-15-2039SEDOL: BG48WG1

HUMANA INC FIXED 3.95% DUE 03-15-2027SEDOL: BYZKXV4

HUMANA INC 4.8% DUE 03-15-2047SEDOL: BYZKXY7

HYUNDAI AUTO 3.04% DUE 06-15-2021CUSIP: 44933AAB3

HYUNDAI CAP AMER 3.1% DUE 04-05-2022SEDOL: BD4H0T6

ILLINOIS TOOL WKS INC 4.875 DUE 09-15-2041 REGSEDOL: B83RFB9

IN DEFAULT PAC GAS & ELEC CO NO-INCOME 0% DUE 12-31-2040SEDOL: B8FPMT8

IN MICH PWR CO 3.75% DUE 07-01-2047SEDOL: BDRM6Q7

INDEFAULTED PACIFIC GAS & ELEC CO 3.3% 12-01-2027SEDOL: BG88F02

INDIANA MICH PWR CO 4.25% 08-15-2048SEDOL: BFXV4T1

INDIANA UNIV HEALTH INC 3.97% BNDS 11-01-2048SEDOL: BFZPKG0

INTEL CORP 3.15% DUE 05-11-2027SEDOL: BF3W9Q6

INTEL CORP 3.734% 12-08-2047 BEOSEDOL: BFMFJQ6

INTEL CORP 4.1% DUE 05-11-2047SEDOL: BF3W9R7

INTEL CORP 4.1% DUE 05-19-2046SEDOL: BDDQWX2

INTERCONTINENTAL 4.25% DUE 09-21-2048SEDOL: BG84470


1,000,000.000 1,387,310.00 1,178,730.00

255,306.740 254,947.71 253,473.64

1,150,000.000 1,146,584.50 1,070,460.25

220,000.000 219,170.60 201,259.74

3,470,000.000 3,405,105.10 3,043,425.96

1,135,000.000 1,121,850.06 1,015,778.47

240,000.000 289,524.00 291,853.44

120,000.000 147,991.20 122,200.80

160,000.000 182,412.80 175,886.88

720,000.000 720,000.00 732,344.40

240,000.000 239,584.80 223,336.32

50,000.000 50,000.00 49,848.00

100,000.000 102,881.20 101,413.70

170,000.000 188,700.00 191,525.40

70,000.000 69,939.10 67,890.76

10,000.000 9,908.10 9,302.28

260,000.000 290,011.40 291,837.26

50,000.000 60,761.50 55,743.05


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INTL PAPER CO 7.3% DUE 11-15-2039SEDOL: B3MDYN8

J P MORGAN MTG TR 3.283373% DUE 05-25-2045CUSIP: 46644XAK8

JOHNSON & JOHNSON 3.4% 01-15-2038SEDOL: BD5W7X3

JOHNSON & JOHNSON 3.5% 01-15-2048SEDOL: BFXCNB9

JPMORGAN CHASE & CO BNDS 3.897% 01-23-2049SEDOL: BDRJGF7

JPMORGAN CHASE & CO BNDS 4.032% 07-24-2048SEDOL: BF348D2

JPMORGAN CHASE & CO FORMERLY J P MORGAN NT 6.4 DUE05-15-2038 BEO SEDOL: B90J106

JPMORGAN CHASE & CO 4.85 NOTES DUE 02-01-2044SEDOL: BLSP4R8

JPMORGAN CHASE & CO 5.625 DUE 08-16-2043 REGSEDOL: BD035K4

JPMORGAN CHASE & FLTG RT 4.452% DUE 12-05-2029SEDOL: BH31X98

JPMORGAN CHASE & 3.625% DUE 12-01-2027SEDOL: BYMJ596

JPMORGAN CHASE & 4.203% DUE 07-23-2029SEDOL: BFMW7H4

JPMORGAN CHASE & 4.95% DUE 06-01-2045SEDOL: BYR8P32

JPMORGAN CHASE & 5.6% DUE 07-15-2041SEDOL: B6QKFT9

KANSAS CITY POWER & LIGHT CO 4.2% 03-15-2048SEDOL: BDVLN03

KANSAS CITY SOUTHN 4.3% DUE 05-15-2043SEDOL: BD1RHS7

KENTUCKY UTILITIES 5.125 11-1-2040SEDOL: B6QFCS2

KERR MCGEE CORP 6.95 DUE 07-01-2024 BEOSEDOL: BBMT8H4


10,000.000 8,668.00 8,709.95

60,000.000 59,569.20 57,736.02

70,000.000 76,687.10 80,462.20

1,500,000.000 1,498,710.00 1,511,059.50

60,000.000 59,964.60 56,641.14

135,000.000 134,022.60 123,858.99

1,000,000.000 1,269,890.00 1,197,855.00

50,000.000 51,132.50 49,557.70

500,000.000 495,690.00 465,579.50

570,000.000 566,374.80 491,505.87

1,575,000.000 1,570,747.50 1,393,152.08

70,000.000 69,496.00 73,628.38

270,000.000 271,547.82 296,311.23

180,000.000 245,940.75 230,180.40

3,055,000.000 3,240,085.38 3,469,633.77

500,000.000 520,470.00 507,280.00

110,000.000 109,521.50 104,604.61

500,000.000 498,855.00 469,057.00


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KIMBERLY CLARK 3.2% DUE 07-30-2046SEDOL: BD1R679

KIMBERLY CLARK 3.9% DUE 05-04-2047SEDOL: BF2YLV2

KIMBERLY CLARK 5.3% DUE 03-01-2041SEDOL: B63ZC30

KINDER MORGAN 4.15% DUE 03-01-2022SEDOL: B5N9YW8

KROGER CO 3.7% 08-01-2027SEDOL: BF347Q8

KROGER CO 4.65% 01-15-2048SEDOL: BF34898

LOCKHEED MARTIN CORP NT 6.15% DUE09-01-2036/12-18-2006 CUSIP: 539830AR0

LOCKHEED MARTIN 3.1% DUE 01-15-2023SEDOL: BD869B4

LOCKHEED MARTIN 3.6% DUE 03-01-2035SEDOL: BVYVQ29

LOWES COS INC 4.05% DUE 05-03-2047SEDOL: BYWC120

LOWES COS INC 4.25% DUE 09-15-2044SEDOL: BQQLW68

LSVLE GAS & ELEC 4.65% DUE 11-15-2043SEDOL: BFZB9W7

MA INST TECH 4.678% DUE 07-01-2114SEDOL: BM7SF38

MA INST TECH 5.6% DUE 07-01-2111SEDOL: B4LWP63

MA MUT LIFE INS CO 7.625% DUE 11-15-2023SEDOL: 2871130

MAGELLAN MIDSTREAM 4.25% DUE 02-01-2021SEDOL: B4VX5V1

MAPLE ESCR 5.085% DUE 05-25-2048SEDOL: BFM2HB8

MARATHON OIL CORP 3.85% DUE 06-01-2025SEDOL: BYZSGH5


160,000.000 158,331.20 158,729.12

95,000.000 94,696.95 77,758.55

1,000,000.000 995,710.00 1,006,241.00

130,000.000 129,886.90 129,107.03

59,000.000 49,993.06 57,595.68

170,000.000 169,185.70 161,718.11

150,000.000 149,754.00 143,415.15

500,000.000 499,615.00 481,896.00

145,000.000 144,763.65 148,298.03

70,000.000 78,844.50 80,070.34

2,155,000.000 2,165,341.90 2,187,921.94

805,000.000 785,461.01 1,041,091.21

675,000.000 670,788.00 704,320.65

470,000.000 538,938.10 529,462.05

235,000.000 247,478.78 276,727.07

785,000.000 783,842.01 824,066.31

2,570,000.000 2,560,054.10 2,420,580.20

30,000.000 29,792.10 27,906.66


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MARKEL CORP 5% DUE 04-05-2046SEDOL: BYZCF03

MARTIN MARIETTA 4.25% 12-15-2047SEDOL: BF0CG80

MASTERCARD INC 3.375 DUE 04-01-2024 BEOSEDOL: BLBNDY9

MASTERCARD INC 3.95% DUE 02-26-2048SEDOL: BF2J247

MAYO CLINIC 3.774% DUE 11-15-2043SEDOL: B8DWSJ3

MCDONALD'S CORP FIXED 4.45% DUE 09-01-2048SEDOL: BF8QNS3

MCDONALDS CORP 4.45% DUE03-01-2047 REG SEDOL: BDFC7W2

MCKESSON CORP NEW NT 2.7 12-15-2022SEDOL: BG48ZQ2

MEDTRONIC INC 4.5 DUE 03-15-2042 REGSEDOL: B4M8708

MEMORIAL SLOAN-KETTERING 5 7-1-2042SEDOL: B7DX7R0

MERCK & CO INC 4.15% DUE 05-18-2043SEDOL: B9D69N3

MERRILL LYNCH & CO 7.75% DUE 05-14-2038SEDOL: BBMT8T6

METLIFE INC 4.875% DUE 11-13-2043SEDOL: BGDXK74

METLIFE INC 5.7% DUE 06-15-2035SEDOL: B0BXDC0

METLIFE INC 5.875% DUE 02-06-2041SEDOL: B4Z51H1

MICROSOFT CORP FIXED 4.25% DUE 02-06-2047SEDOL: BYP2PC5

MICROSOFT CORP 3.45% DUE 08-08-2036CUSIP: 594918BS2

MICROSOFT CORP 3.5% DUE 11-15-2042CUSIP: 594918AR5


400,000.000 398,032.00 411,905.20

1,750,000.000 1,728,813.08 1,676,470.25

1,970,000.000 1,959,105.90 1,905,846.95

755,000.000 747,558.80 728,732.04

650,000.000 604,604.00 634,188.75

2,260,000.000 2,255,095.80 2,319,123.87

600,000.000 610,374.00 621,996.60

1,175,000.000 1,214,813.70 1,246,253.18

1,175,000.000 1,156,317.50 1,153,894.65

20,000.000 19,879.80 20,605.12

2,600,000.000 2,587,728.00 2,846,214.80

270,000.000 338,480.10 315,789.84

30,000.000 35,001.60 35,910.45

364,584.170 375,495.15 359,377.18

500,000.000 500,000.00 472,752.00

325,000.000 322,790.00 300,506.05

3,510,000.000 3,474,864.90 3,335,896.98

2,285,000.000 2,285,000.00 2,082,229.10


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MICROSOFT CORP 3.625% DUE 12-15-2023CUSIP: 594918AW4

MICROSOFT CORP 3.7% DUE 08-08-2046CUSIP: 594918BT0

MICROSOFT CORP 3.75% DUE 02-12-2045CUSIP: 594918BD5

MICROSOFT CORP 3.75% DUE 05-01-2043CUSIP: 594918AU8

MICROSOFT CORP 3.95% DUE 08-08-2056CUSIP: 594918BU7

MICROSOFT CORP 4.1% DUE 02-06-2037SEDOL: BYP2P70

MICROSOFT CORP 4.2% DUE 11-03-2035SEDOL: BYV2S20

MICROSOFT CORP 4.45% DUE 11-03-2045CUSIP: 594918BL7

MICROSOFT CORP 4% DUE 02-12-2055CUSIP: 594918BE3

MIDAMERICAN ENERGY 4.4% DUE 10-15-2044SEDOL: BL9FK80

MIDAMERICAN ENERGY 4.8% DUE 09-15-2043SEDOL: BDWGXK7

MIDAMERICAN ENERGY 5.95% DUE 05-15-2037SEDOL: B2374T8

MIDAMERICAN ENERGY 6.125% DUE 04-01-2036SEDOL: B1FTHZ2

MORGAN STANLEY BK 2.858 DUE 09-15-2022CUSIP: 61761DAD4

MORGAN STANLEY FORMERLY MORGAN STANLEY 3.591% 07-22-2028SEDOL: BZ9P8W8

MORGAN STANLEY 3.125% DUE 07-27-2026SEDOL: BYV6G28

MORGAN STANLEY 3.625% DUE 01-20-2027SEDOL: BYM4WS9

MORGAN STANLEY 3.971% 07-22-2038SEDOL: BZ9P947


900,000.000 886,416.14 841,810.50

1,000,000.000 1,154,070.00 1,042,651.00

320,000.000 368,596.77 391,615.04

270,000.000 311,944.72 339,975.63

40,000.000 40,857.20 36,819.88

165,000.000 163,038.15 144,102.26

120,000.000 149,446.80 144,697.08

90,000.000 89,554.50 93,731.76

150,000.000 149,559.00 147,806.10

500,000.000 499,085.00 490,861.00

485,000.000 447,021.76 467,506.05

1,265,000.000 1,248,011.05 1,240,615.86

65,000.000 64,420.85 63,200.87

585,000.000 584,997.95 586,047.15

500,000.000 498,585.00 485,940.50

770,000.000 767,759.30 777,256.48

2,855,000.000 2,920,807.75 3,605,745.09

500,000.000 499,865.00 441,438.00


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MORGAN STANLEY 4.3% DUE 01-27-2045SEDOL: BVRZ811

MORGAN STANLEY 5.75% DUE 01-25-2021SEDOL: B4552N4

MORGAN STANLEY 6.375% DUE 07-24-2042SEDOL: B98G6S2

MORGAN STANLEY 7.25% DUE 04-01-2032SEDOL: B4021X3

MPLX LP FIXED 5.2% DUE 03-01-2047SEDOL: BYXT874

MPLX LP 4.5% 04-15-2038SEDOL: BYZGJX6

N SHORE LONG IS 6.15% DUE 11-01-2043SEDOL: BDT7XZ8

NATIONAL RURAL UTIL COOP 4.4% DUE 11-01-2048 BEOSEDOL: BGLPK49

NATL RURAL UTILS 3.4% DUE 02-07-2028CUSIP: 637432NP6

NBCUNIVERSAL MEDIA LLC SR NT 2.875 01-15-2023SEDOL: B86PMS6

NBCUNIVERSAL MEDIA 4.45% DUE 01-15-2043SEDOL: B7W15J3

NESTLE HLDGS INC 4% DUE 09-24-2048SEDOL: BG0QJT1

NEW YORK & 4.024% DUE 08-01-2045SEDOL: BWWD066

NISSAN AUTO 3.07% DUE 10-15-2021CUSIP: 65478NAB1

NORTHERN TR CORP 2.375% DUE 08-02-2022CUSIP: 665859AN4

NORTHN STS PWR CO 4.125% DUE 05-15-2044SEDOL: BMM2784

NORTHN STS PWR CO 6.2% DUE 07-01-2037SEDOL: B1Z4JL7

NORTHROP GRUMMAN CORP 3.85% DUE 04-15-2045SEDOL: BVFMJ22


1,000,000.000 999,470.00 933,001.00

180,000.000 179,719.20 163,711.80

70,000.000 70,000.00 66,526.46

160,000.000 160,000.00 159,983.20

1,866,000.000 1,950,783.16 2,268,721.99

2,310,000.000 2,294,037.90 2,389,889.04

280,000.000 288,333.65 272,425.72

155,000.000 154,894.60 149,947.31

1,000,000.000 995,670.00 986,160.00

100,000.000 101,831.00 106,112.40

50,000.000 62,164.50 56,200.45

1,000,000.000 996,240.00 926,762.00

255,000.000 254,961.75 240,843.42

90,000.000 90,000.00 85,774.32

225,000.000 224,811.00 197,673.75

60,000.000 59,779.80 63,794.82

10,000.000 9,956.70 9,775.90

2,245,000.000 2,239,656.90 2,277,815.17


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NORTHROP GRUMMAN 3.25% DUE 01-15-2028SEDOL: BF15KF3

NORTHROP GRUMMAN 4.03% DUE 10-15-2047SEDOL: BF15KD1

NORTHWELL HEALTHCARE INC 4.26% 11-01-2047SEDOL: BF52DS4

NORTHWESTERN CORP 4.176% DUE 11-15-2044SEDOL: BSLVST2

NORTHWESTN MUT 6.063% DUE 03-30-2040SEDOL: B58P7W2

NSTAR ELEC CO 4.4% DUE 03-01-2044SEDOL: BKJ9BP9

OCCIDENTAL PETE 4.4% DUE 04-15-2046SEDOL: BDBFN16

OK GAS & ELEC CO 4.15% DUE 04-01-2047SEDOL: BYVBMP8

OMNICOM GROUP INC 3.625% DUE 05-01-2022SEDOL: B7T1YQ6

ONE GAS INC 4.658% DUE 02-01-2044SEDOL: BSKRSL3

ONEOK PARTNERS L P 6.85% DUE 10-15-2037SEDOL: B2830T3

ORACLE CORP 2.65% DUE 07-15-2026SEDOL: BY7RCX8

ORACLE CORP 3.85% DUE 07-15-2036SEDOL: BY7RCZ0

ORLANDO HEALTH INC 4.089% DUE 10-01-2048SEDOL: BG13DC2

PAC LIFE INS CO 4.3% 10-24-2067SEDOL: BZ3CYH2

PECO ENERGY CO 4.8 DUE 10-15-2043 BEOSEDOL: BDZDWC0

PEPSICO INC 4% DUE 05-02-2047SEDOL: BD0B4Y5

PFIZER INC 4.2% 09-15-2048SEDOL: BYZFHM8


2,965,000.000 2,958,506.65 3,022,903.49

90,000.000 99,320.40 93,721.41

1,000,000.000 997,630.00 1,026,629.00

80,000.000 79,860.80 74,925.36

1,000,000.000 998,760.00 854,557.00

1,000,000.000 1,027,410.00 970,454.00

185,000.000 183,131.50 179,286.65

90,000.000 89,495.10 89,761.41

170,000.000 169,435.60 171,867.62

60,000.000 60,000.00 59,151.60

140,000.000 138,178.60 131,156.48

70,000.000 82,777.80 86,835.98

95,000.000 95,000.00 90,491.02

190,000.000 188,789.70 182,071.68

190,000.000 189,572.50 185,895.43

108.740 0.00 108.88

250,000.000 244,700.00 245,267.63

250,000.000 246,925.00 247,457.25


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PFIZER INC 4.3% DUE 06-15-2043SEDOL: BCLYQM8

PFIZER INC 4.4% DUE 05-15-2044SEDOL: BMMB3K5

PHILLIPS 66 4.3% DUE 04-01-2022SEDOL: B94MSW2

PIEDMONT NAT GAS 4.1% DUE 09-18-2034SEDOL: BYT3W56

PLAINS ALL AMERN PIPELN L P/PAA 4.9% 02-15-2045SEDOL: BYM9466

PNC BK N A PITT PA 3.25% DUE 06-01-2025SEDOL: BYPC934

PPL ELEC UTILS CORP 3.95% 06-01-2047SEDOL: BZ1JSM8

PPL ELECTRIC UTILITIES CORP 4.15% 06-15-2048SEDOL: BFNC7K6

PRECISION 4.375% DUE 06-15-2045SEDOL: BZ0YDV8

PRESIDENT & 3.619% DUE 10-01-2037SEDOL: B95W553

PROCTER & GAMBLE FIXED 3.5% DUE 10-25-2047SEDOL: BYWG4T0

PROGRESSIVE CORP 6.25% DUE 12-01-2032SEDOL: BG491X4

PROVID HLTH & SVCS 3.93% DUE 10-01-2048SEDOL: BZ1D2N9

PUBLIC SVC ELEC GAS CO SECD MEDIUM TERM NTS 3.8 01-01-2043SEDOL: B8FS4X5

PVPTL HALFMOON PARENT INC 4.9% 12-15-2048SEDOL: BZ0X393

PVTPL AMBAC LSNI LLC FLTG 02-12-2023SEDOL: BG04C29

PVTPL AMMC CLO SER 12-11A CL A1R2 FLTG 04-30-2031CUSIP: 00176AAX3

PVTPL APIDOS CLO SR 13-12A CL AR VAR RT 04-15-2031CUSIP: 03764DAH4


205,028.310 205,182.08 204,525.58

400,000.000 400,000.00 390,046.04

250,000.000 245,950.00 245,992.70

390,000.000 401,669.78 380,713.71

1,000,000.000 995,000.00 999,729.00

120,000.000 116,352.00 118,748.76

250,000.000 248,600.00 248,761.00

220,000.000 226,351.64 230,532.94

3,750,000.000 3,713,441.41 3,711,633.75

130,000.000 129,790.70 127,674.95

95,000.000 94,759.65 94,369.87

250,000.000 244,375.00 245,115.18

375,000.000 375,000.00 374,929.43

230,360.420 230,360.42 229,645.10

240,000.000 239,790.20 239,331.36

160,000.000 160,000.00 150,552.48

500,000.000 499,745.00 492,237.00

250,000.000 243,875.00 246,995.53


31 DEC 18





Page 187 of 321


PVTPL AVERY PT V CLO LTD/AVERY PT V SER 14-5A CL ARFLTG 07-17-2026 CUSIP: 05363XAN7

PVTPL BALLYROCK CLO SER 18-1A CL A1 FLTG 04-20-2031CUSIP: 05875HAA1

PVTPL BLUEMOUNTAIN CLO LTD SE 15-3A CL A1R FLTG 04-20-2031CUSIP: 09628JAL5

PVTPL BXP TRUST SR 2017-GM 2017-GM CL A 3.379% DUE06-13-2039 SEDOL: BZ18S70

PVTPL CARGILL INC NT 144A 3.25% DUE 11-15-2021 BEOSEDOL: B3ZL172

PVTPL CARLYLE HLDGS II FIN L L C SR NT 144A 5.625% DUE03-30-2043 BEO SEDOL: B9M2Z34

PVTPL CARLYLE US CLO 2017-2 LTD/CARLYLE US C SR SECD NT CLA-1B FLTG 07-20-2031 CUSIP: 14315JAL3

PVTPL CMO MORGAN STANLEY CAP I TR 2018-MP MTG CTF CL A4.4185% DUE 07-11-2040 SEDOL: BFZMGV8

PVTPL FORD CR AUTO OWNER TR 2015-REV1 2.12%DUE 07-15-2026BEO SEDOL: BVDPT45

PVTPL HALFMOON PARENT INC NT 144A 4.8% DUE08-15-2038/09-17-2018 BEO SEDOL: BZ0X3D7

PVTPL KANSAS GAS & ELECTRIC COMPANY 1ST MTG BD 4.3 DUE07-15-2044 SEDOL: BF8QHG9

PVTPL KKR CLO SER 21 CL A FLTG 04-15-2031CUSIP: 48252KAA7

PVTPL LCM LTD PARTNERSHIP SER 24A CL A FLTG RT DUE03-20-2030 BEO CUSIP: 50188YAA2

PVTPL MAGNETITE CLO LTD SR 14-9A CL A1R FLTG RATE07-25-2026 CUSIP: 55953BAJ5

PVTPL MASS MUTUAL LIFE INS CO SURPLUS NT 4.9% DUE04-01-2077 SEDOL: BYXK3K5

PVTPL MASSACHUSETTS ELEC CO SR NT 144A 4.004% DUE08-15-2046/08-05-2016 BEO SEDOL: BD1FCR5

PVTPL METROPOLITAN LIFE GLOBAL FDG I 3 1-10-23SEDOL: B8FZDZ1

PVTPL MIDOCEAN CR CLO VII/MIDOCEAN CR CLO VI NT CL B FLTG144A 3C7 07-15-2029 CUSIP: 59801WAE6


2,490,000.000 3,149,524.65 2,599,557.51

1,200,000.000 1,187,172.00 1,163,894.40

2,180,000.000 2,155,511.18 2,610,815.96

680,000.000 678,003.30 615,777.40

350,000.000 347,742.50 344,676.78

1,000,000.000 996,790.00 1,002,420.00

219,698.560 219,698.56 219,157.22

522,459.580 519,928.92 519,902.14

3,004,567.830 2,986,503.91 2,987,417.76

2,960,000.000 2,949,106.59 2,929,701.44

250,000.000 250,000.00 246,185.60

250,000.000 250,000.00 247,624.43

90,000.000 84,754.06 85,725.09

100,000.000 102,701.00 96,075.20

500,000.000 498,615.00 502,083.00

1,000,000.000 986,020.00 1,000,646.00

1,000,000.000 995,970.00 1,016,953.00

1,000,000.000 996,940.00 918,744.00


31 DEC 18





Page 188 of 321


PVTPL MOTIVA ENTERPRISES LLC SR NT 144A 6.85% DUE01-15-2040/01-11-2010 BEO SEDOL: B5MMVT4

PVTPL NESTLE HLDGS INC 3.9% 09-24-2038SEDOL: BG0QJS0

PVTPL NEW YORK LIFE INSURANCE 5.875% DUE 05-15-2033SEDOL: 2660349

PVTPL NORTHWESTERN MUT LIFE INS CO SURPLUS 3.85%09-30-2047 SEDOL: BD6NK03

PVTPL OCTAGON INVT PARTNERS 36 LTD/OCTAGON I SR SECD NT CLA-1 FLTG 04-15-2031 CUSIP: 67591UAC1

PVTPL SCHLUMBERGER INVT SA GTD SR NT 144A 3.3% DUE09-14-2021/09-14-2011 BEO CUSIP: 806854AB1

PVTPL SENECA PK CLO LTD/SENECA PAK CLO LLC SR CL A-R FLTGDUE 07-17-2026 CUSIP: 817176AL4

PVTPL VERIZON OWNER TR 2016-1 ASSET BACKED NT CL A 144A1.42% DUE 01-20-2021 SEDOL: BG7P441

PVTPL VERIZON OWNER TR 2016-2 AST BACKEDCTF CL A 144A 1.68DUE 05-20-2021BEO SEDOL: BYVMJH2

PVTPL VERIZON OWNER TR 2017-2 CL A 1.92% 12-20-2021 BEOSEDOL: BF0Z991

PVTPL VOYA CLO LTD SR 2017-2A CL A-2A FLTG DUE 06-07-2030CUSIP: 92915UAC8

PVTPL ZAIS CLO 2 LTD SER 14-2A CL A1BR 2.92% DUE 07-25-2026CUSIP: 98886YAR9

QUALCOMM INC 4.8% DUE 05-20-2045SEDOL: BXS2XQ5

RAYMOND JAMES FINL 4.95% DUE 07-15-2046SEDOL: BYP6KY4

REPUBLIC SVCS INC 3.55% DUE 06-01-2022SEDOL: B86N2X5

REPUBLIC SVCS INC 3.95% DUE 05-15-2028SEDOL: BF4NFK4

SCHWAB CHARLES 4% DUE 02-01-2029SEDOL: BFY3NT9

SEMPRA ENERGY 3.25% 06-15-2027SEDOL: BD6DZZ3


118,000.000 116,723.24 100,884.22

1,000,000.000 995,740.00 1,017,517.00

140,000.000 129,625.50 132,544.16

115,000.000 114,948.25 117,641.21

30,000.000 25,172.70 27,502.35

60,000.000 59,937.00 59,591.04

935,000.000 933,008.45 830,173.41

1,098,000.000 1,276,124.71 1,049,787.92

60,000.000 59,758.80 55,002.48

2,000,000.000 2,000,500.00 1,991,938.00

840,000.000 834,775.20 797,307.84

170,000.000 169,886.10 163,567.88

100,000.000 96,967.20 91,678.10

100,000.000 99,680.00 95,712.50

248,000.000 265,358.81 322,453.07

100,000.000 100,870.00 101,384.30

790,000.000 786,492.40 788,285.70

1,000,000.000 992,630.00 929,363.00


31 DEC 18





Page 189 of 321


SEMPRA ENERGY 3.8% DUE 02-01-2038SEDOL: BFWJJY6

SHERWIN-WILLIAMS CO SR NT 7.25% DUE 06-15-2019SEDOL: BZ1HHL4

SOUTHERN CALIF EDISON CO 4.125% 03-01-2048SEDOL: BFMZDC0

SOUTHERN CALIF GAS CO 4.3% 01-15-2049SEDOL: BGHHQ74

SOUTHN CAL EDISON 4% DUE 04-01-2047SEDOL: BD9BPH6

SOUTHN CAL GAS CO 4.125% DUE 06-01-2048SEDOL: BF10906

SOUTHWESTN ELEC 3.85% DUE 02-01-2048SEDOL: BD1DDS7

SPCL1 GEN ELEC CAP CORP 5.875% DUE 01-14-2038SEDOL: B2NJ7Z1

STARBUCKS CORP 4.3% DUE 06-15-2045SEDOL: BYYG2D8

SUNTRUST BANK 3.689% 08-02-2024SEDOL: BFZS3K4

SYSCO CORP FIXED 4.45% DUE 03-15-2048SEDOL: BF28W66

TAMPA ELEC CO 4.35% DUE 05-15-2044SEDOL: BMMVFY3

TARGET CORP FIXED 3.9% DUE 11-15-2047SEDOL: BYZQN45

TEACHERS INS & 4.27% DUE 05-15-2047SEDOL: BF19248

TEACHERS INS & 6.85% DUE 12-16-2039SEDOL: B50WZ61

TEXAS HEALTH RES 4.33% DUE 11-15-2055SEDOL: BX90B31

TEXAS INSTRS INC 4.15% DUE 05-15-2048SEDOL: BG0DDF6

THERMO FISHER 3.2% DUE 08-15-2027SEDOL: BF2K6P9


80,000.000 82,704.80 80,327.68

180,000.000 222,074.20 224,270.10

140,000.000 151,590.60 118,742.82

70,000.000 69,896.40 59,488.80

1,890,000.000 1,861,121.50 1,768,705.47

130,000.000 129,803.70 127,489.31

170,000.000 170,606.90 167,627.82

110,000.000 109,891.10 98,309.97

130,000.000 140,873.20 116,262.38

70,000.000 69,759.20 70,905.87

335,000.000 332,695.20 334,813.41

750,000.000 745,897.50 754,782.75

65,000.000 64,733.50 66,906.71

1,000,000.000 999,500.00 1,008,622.00

1,380,000.000 1,376,536.20 1,246,116.54

2,305,000.000 2,276,579.35 2,177,628.01

960,000.000 956,956.80 927,059.53

1,750,000.000 2,101,977.50 1,850,637.25


31 DEC 18





Page 190 of 321


TIME WARNER CABLE 4.125% DUE 02-15-2021SEDOL: B5STKL4

TRAVELERS COS INC 6.25% DUE 06-15-2037SEDOL: B8YTZQ9

UNION PAC CORP 3.799% DUE 10-01-2051SEDOL: BDCWS88

UNION PAC CORP 4.1% DUE 09-15-2067SEDOL: BYWJVB0

UNION PAC CORP 4.15% DUE 01-15-2045SEDOL: BQ1KQC4

UNION PAC CORP 4.375% DUE 09-10-2038SEDOL: BDFY0H4

UNION PAC CORP 4.5% 09-10-2048SEDOL: BYZGKF5

UNION PACIFIC CORP 3.6% DUE 09-15-2037SEDOL: BYWJV98

UNITED TECHNOLOGIES CORP 4.15% 05-15-2045SEDOL: BWTZ6W3

UNITEDHEALTH GROUP FIXED 3.875% DUE 12-15-2028SEDOL: BHHK971

UNITEDHEALTH GROUP FIXED 4.25% DUE 06-15-2048SEDOL: BG08PD3

UNITEDHEALTH GROUP INC 3.375 DUE 11-15-2021SEDOL: B5VQJQ0

UNITEDHEALTH GROUP INC 4.45% DUE 12-15-2048 REGSEDOL: BHHK982

UNITEDHEALTH GROUP 3.5% DUE 06-15-2023SEDOL: BYZGKG6

UTD PARCEL SVC INC 3.75% 11-15-2047SEDOL: BDRYRR1

UTD TECHNOLOGIES 4.5% DUE 06-01-2042SEDOL: B8J6DZ0

UTD TECHNOLOGIES 4.625% DUE 11-16-2048SEDOL: BYVN9P3

UTD TECHNOLOGIES 5.4% DUE 05-01-2035SEDOL: BG495S7


145,000.000 155,860.50 145,807.94

120,000.000 203,977.20 181,054.20

1,000,000.000 1,272,840.00 1,233,345.00

1,500,000.000 1,568,092.50 1,445,688.00

500,000.000 496,700.00 493,138.50

110,000.000 113,019.50 103,886.53

500,000.000 496,275.00 473,522.00

1,080,000.000 1,076,425.40 1,016,713.08

1,090,000.000 1,260,973.90 1,348,022.62

2,625,000.000 2,445,072.70 2,964,320.63

520,000.000 514,137.61 559,772.20

645,000.000 638,311.35 639,029.24

1,840,000.000 1,816,061.60 1,830,834.97

1,240,000.000 1,240,000.00 1,190,494.24

40,000.000 39,724.80 37,656.12

160,000.000 159,695.00 157,386.40

1,500,000.000 1,495,950.00 1,451,011.50

110,000.000 109,632.60 100,933.25


31 DEC 18





Page 191 of 321


VA ELEC & PWR CO 4.45 02-15-2044SEDOL: BJSVPB3

VA ELEC & PWR CO SR NT 2008 SER B 8.875 DUE 11-15-2038SEDOL: B3FD1W3

VALERO ENERGY CORP 7.5% DUE 04-15-2032SEDOL: 2369408

VERIZON COMMUNICATIONS 4.4% DUE 11-01-2034 REGSEDOL: BSBN5N1

VERIZON FIXED 3.5% DUE 11-01-2024SEDOL: BSBN3X7

VIRGINIA ELEC & PWR CO 4 DUE 01-15-2043SEDOL: B7S97N9

VISA INC 2.75% 09-15-2027SEDOL: BD5WJ15

VISA INC 3.65% 09-15-2047SEDOL: BD5WHT9

WACHOVIA BK NATL ASSN MEDIUM TERM SUB BKTRANCHE # SB00009 6.6 DUE 01-15-2038 SEDOL: B7XGYR8

WACHOVIA BK NATL ASSN MTN SUB BKTRANCHE # SB 00007 5.85 DUE02-01-2037 BEO SEDOL: B1PB082

WACHOVIA CORP NEW 5.5% DUE 08-01-2035SEDOL: BG496M8

WALMART INC 3.95% DUE 06-28-2038SEDOL: BGLQSV5

WALMART INC 4.05% DUE 06-29-2048 REGSEDOL: BG08Q52

WELLS FARGO & CO FLTG RT 3.584% DUE 05-22-2028SEDOL: BF3R2P1

WELLS FARGO & CO NEW MEDIUM TERM SR 4.65% 11-04-2044SEDOL: BS9FPF1

WELLS FARGO & CO NEW MEDIUM TERM SR NTS TRANCHE # TR 001554.3% DUE 07-22-2027 SEDOL: BYQXN34

WELLS FARGO & CO 3.3 09-09-2024SEDOL: BQSCKF4

WELLS FARGO & CO 3.9% DUE 05-01-2045SEDOL: BX2H0V0


710,000.000 707,564.70 661,605.69

220,000.000 219,491.80 203,659.28

100,000.000 101,702.09 91,731.20

360,000.000 365,187.80 346,626.00

550,000.000 600,799.02 536,291.80

70,000.000 75,545.80 76,922.37

140,000.000 139,447.00 146,100.36

243,000.000 243,084.55 263,536.66

10,000.000 12,786.20 11,727.94

2,520,000.000 2,342,743.20 2,900,010.96

1,390,000.000 1,388,929.70 1,639,902.54

350,000.000 351,984.80 432,776.75

80,000.000 100,876.00 94,719.04

532,337.000 3,999,999.78 0.01

1,618,380.000 2,859,999.83 0.02


31 DEC 18





Corporate Stock - Preferred

United States - USD

United States - USD

Page 192 of 321



Total Corporate Debt Instruments - Other 337,259,341.40 335,718,079.72

WELLS FARGO & CO 3% DUE 04-22-2026SEDOL: BD72T35

WELLS FARGO & CO 3% DUE 10-23-2026SEDOL: BYQ74R7

WELLS FARGO & CO 4.4% DUE 06-14-2046SEDOL: BD39X50

WELLS FARGO & CO 4.75% DUE 12-07-2046SEDOL: BDSFRX9

WELLS FARGO & CO 4.9% DUE 11-17-2045SEDOL: BYQ29R7

WELLS FARGO & CO 5.375% DUE 02-07-2035SEDOL: BG496Q2

WELLS FARGO & CO 5.375% DUE 11-02-2043SEDOL: BG48MR2

WELLS FARGO & CO 5.606% DUE 01-15-2044SEDOL: BJTGHH7

WELLS FARGO & CO 6.55 DUE 10-15-2035SEDOL: 2423605

WELLS FARGO BK 5.95% DUE 08-26-2036SEDOL: B1CL665

WI ELEC PWR CO 5.7% DUE 12-01-2036SEDOL: B1GKMM6

WYETH 6% DUE 02-15-2036SEDOL: BG491R8

1ST UN CORP BD STEP UP 08-01-2026SEDOL: 2664062

PVTPL EXPERIENCE INC SER B CONV PFDCUSIP: 302996335

PVTPL EXPERIENCE INC SER C CONV PFDCUSIP: 302996343


1,375,000.000 687,500.00 1.00

200,000.000 200,000.00 1.00

212.000 0.00 10.30

5,782.000 0.00 2.89

162,000.000 120,573.26 0.00

11,175.000 129,842.00 13,745.25

35,981.000 0.00 0.36

7,524.000 119,764.21 18,734.76

20,582.000 540,842.15 52,895.74


31 DEC 18





Corporate Stock - Common

United States - USD

Australia - AUD

Canada - USD

Hong Kong - HKD

United States - USD

Page 193 of 321


Total United States - USD 7,747,499.61 2.03

Total Corporate Stock - Preferred 7,747,499.61 2.03

Total Australia - AUD 0.00 10.30

Total Canada - USD 0.00 2.89

Total Hong Kong - HKD 120,573.26 0.00

RENAMED BIOLOGIES INC SER E PFDCUSIP: 759991870

TECTURA CORP SERIES C PFDCUSIP: BNT999HD4

WHITE ENGY CO LTD NPVSEDOL: 6167619

NORTEL NETWORKS CORP NEW COMSEDOL: B1H4Y87

PEACE MARK(HLDGS) HKD0.10SEDOL: 6433774

ACHAOGEN INC COMSEDOL: BK35H22

ACI GLOBAL CORP COM STKSEDOL: B032WD9

APPLIED GENETIC TECHNOLOGIES CORP COMSEDOL: BKRVPJ9

CHIMERIX INC COMSEDOL: B8RLM49


0.080 0.08 0.08

5,980.000 393,850.39 275,080.00

2,226,433.000 2,226,433.00 1,677,856.00

1.000 1.13 193,195.79

6,436.000 6,436.00 288,789.00

0.560 0.56 191,715.00

3,314,166.700 3,314,166.70 378,991.00

8,337,568.090 8,337,568.09 10,807,241.79

4,082,586.080 4,082,586.08 4,737,189.24

3,311,602.480 3,311,602.48 3,571,931.08

37,369.000 37,369.00 435,073.00


31 DEC 18





Partnership/Joint Venture Interests

United States - USD

Africa Region - USD

Asia Region - EUR

Asia Region - USD

Page 194 of 321


Total United States - USD 1,184,298.83 360,456.19

Total Corporate Stock - Common 1,304,872.09 360,469.38

Total Africa Region - USD 2,226,433.00 1,677,856.00

Total Asia Region - EUR 1.13 193,195.79

DOW ATTRIBUTION SECURITYCUSIP: 6YP999E35

ESPERION THERAPEUTICS INC NEW COMSEDOL: BBNBTD2

PINEBRIDGE SUB-SAHARAN AFRICA FUND LPCUSIP: 9925M2993

APAX EUROPE VICUSIP: 991DJR996

AXIOM ASIA PRIVATE CAPITAL FUND ICUSIP: 991DKT990

BARING ASIA PRIVATE EQUITY FUND III LP 1CUSIP: 991DMB997

BARING ASIA PRIVATE EQUITY FUND IVCUSIP: 991DMN991

BARING ASIA PRIVATE EQUITY FUND V, LPCUSIP: 991DMQ994

BARING ASIA PRIVATE EQUITY FUND VI LP 1CUSIP: 9922XC996

BPE ASIA REAL ESTATE FUND, L.P.CUSIP: 991RXT995

MORGAN STANLEY PRIVATE EQUITY ASIA TEE LPCUSIP: 991DLG997


2,600,608.990 2,600,608.99 2,322,525.00

666,443.400 674,817.89 0.73

1,666,151.000 1,666,151.00 446,771.00

1,774,658.000 1,774,658.00 29,155.00

1,819,587.770 2,403,284.15 674,414.19

1,212,392.150 1,582,167.42 807.06

2,267,734.050 2,267,734.05 2,164,639.87

600,093.040 600,093.04 593,337.00

797,452.440 1,050,196.49 439,526.33


31 DEC 18




Partnership/Joint Venture InterestsAsia Region - USD

Canada - CAD

China - USD

Europe Region - EUR

Europe Region - USD

Global Region - EUR

Page 195 of 321


Total Asia Region - USD 21,690,337.90 22,733,455.11

Total Canada - CAD 674,817.89 0.73

Total China - USD 3,440,809.00 475,926.00

Total Europe Region - EUR 3,985,451.57 675,221.25

Total Europe Region - USD 2,867,827.09 2,757,976.87

Total Global Region - EUR 1,050,196.49 439,526.33

NORTH HAVEN PRIVATE EQUITY ASIA III TE, L.P.CUSIP: 991DKW993

GREENSTONE VENTURES LPCUSIP: 991DJK991

CAPITAL TODAY CHINA GROWTH FUNDCUSIP: 991DKN993

TROPHY PROPERTY (T.E.) LPCUSIP: 991DMR992

APAX EUROPE VII-A ERISA (FEEDER) LPCUSIP: 991DJL999

COMPOSITION CAPITAL EUROPE II FEEDER C.V.CUSIP: 991DJJ994

HENDERSON PARK REAL ESTATE FUND I US TE LPCUSIP: 992WHB990

PINEBRIDGE PRIVATE EQUITY PORTFOLIO III (formerly AIG PVTEQTY PORTFOLIO III) CUSIP: 991DLD994

TVM LIFE SCIENCE VENTURES VI LPCUSIP: 991DJU999


1.000 1.00 100,691.00

1,652,170.000 1,652,170.00 2,716,944.00

3,245,000.000 3,245,000.00 3,764,180.00

3,809,755.430 3,809,755.43 4,641,264.06

1.000 1.00 144,353.00

1,561,656.940 1,561,656.94 24,715.00

2,488,019.260 2,488,019.26 144,014.00

610,619.120 610,619.12 293,753.00

4,059,767.090 4,059,767.09 5,016,648.00

8,784,424.820 8,784,424.82 11,736,796.00

7,125,753.000 7,125,753.00 7,641,937.00

9,878,071.850 9,878,071.85 9,998,520.00

2,585,235.100 2,585,235.10 3,167,098.26

3,881,309.850 3,881,309.85 2,477,582.00

3,721,639.620 3,721,639.62 3,957,769.21

6,690,897.750 6,690,897.75 7,380,719.12

1,768,140.780 1,768,140.78 729,110.00

243,871.000 243,871.00 207,866.00


31 DEC 18




Partnership/Joint Venture InterestsGlobal Region - USD

Page 196 of 321


ADVENT INTERNATIONAL GPE V-ACUSIP: 991DKH996

ADVENT INTERNATIONAL GPE VII-BCUSIP: 991GAT994

ADVENT INTERNATIONAL GPE VIII-B LPCUSIP: 992AUP992

APOLLO INVESTMENT FUND VIII, L.P.CUSIP: 991PUY991

CANYON DISTRESSED OPPORTUNITY FUND (CAYMAN) LPCUSIP: 991DMC995

CAP INTL PRIVATE EQUITY FD IVCUSIP: 991DMV993

CAPITAL INTL PRIVATE EQUITY FUND VCUSIP: 991DKG998

GEAM INTERNATIONAL PRIVATE EQUITY FUND, LPCUSIP: 991DKM995

GLOBAL INFRASTRUCTURE PARTNERS - BCUSIP: 991DLY998

GLOBAL INFRASTRUCTURE PARTNERS II-B FEEDER FUNDCUSIP: 991FR5990

GLOBAL INFRASTRUCTURE PARTNERS III-B FEEDER FUND, LPCUSIP: 9927XJ990

HANCOCK TIMBERLAND XII LPCUSIP: 991QRL991

HIGHBRIDGE PRINCIPAL STRATEGIES - OFFSHORE MEZZANINEPTRS II CUSIP: 991HZP993

HIGHBRIDGE PRINCIPAL STRATEGIES - SPECIALTY LOAN FUNDIII, LP CUSIP: 991FPW993

NCH AGRIBUSINESS PARTNERSCUSIP: 991DLJ991

PETERSHILL II OFFSHORE LPCUSIP: 991WE4990

PINEBRIDGE ASIA PARTNERS IICUSIP: 991DLN992

PLATINUM EQUITY SMALL CAP FUND LPCUSIP: 992TMA993


2,071,297.970 2,071,297.97 2,078,837.36

4,530,088.000 4,530,088.00 4,595,575.00

3,054,781.400 3,054,781.40 956,616.00

1,387,637.520 1,387,637.52 679,162.00

39,461,230.000 472,526.45 183,907.93

5,104,641.490 5,104,641.49 5,088,532.19

603,564.260 603,564.26 590,142.00

844,285.960 1,097,958.64 1,420,376.51

108,236.890 141,127.21 176,740.14


31 DEC 18





Israel - USD

Japan - JPY

North America Region - USD


United Kingdom - EUR

Page 197 of 321


Total Global Region - USD 68,707,719.58 70,818,372.01

Total Israel - USD 4,442,418.92 1,635,778.00

Total Japan - JPY 472,526.45 183,907.93

Total North America Region - USD 5,104,641.49 5,088,532.19


Total United Kingdom - EUR 1,239,085.85 1,597,116.65

RIVERWOOD CAPITAL PARTNERS II L.P.CUSIP: 991RAY999

West Street Energy Partners, L.P.CUSIP: 991JGF992

PITANGO VENTURE CAPITAL FUND IVCUSIP: 991DMT998

PITANGO VENTURE CAPITAL FUND VCUSIP: 991DKE993

GLOBIS FUND III, LPCUSIP: 991DTT991

APOLLO NATURAL RESOURCE PARTNERS II LPCUSIP: 9923R9998

MORGAN CREEK NEW CHINA FUND, LPCUSIP: 992KXA990

VIP I ACUSIP: 991DJW995

VIP I A (SIDE FUND)CUSIP: 991DJY991


224,559.200 324,925.86 376,671.40

2,021,032.510 2,925,843.23 3,004,708.39

4.000 0.00 -10,642,053.80

531,198.980 531,198.98 777,168.00

2,292,708.880 2,292,708.88 1.00

1,100,162.660 1,100,162.66 1,513,896.00

1,989,071.950 1,989,071.95 3,197.00

308,086.000 308,086.00 331,234.00

1,231,484.980 1,231,484.98 3,291.00

841,485.000 841,485.00 895,023.00

3,449,285.810 3,449,285.81 3,930,729.00

3,278,420.470 3,278,420.47 3,358,949.00

409,452.670 409,452.67 653,871.00

2,300,461.320 2,300,461.32 554,071.60

649,486.300 649,486.30 549,558.14

4,552,365.450 4,552,365.45 1,973,364.77

1,369,211.690 1,369,211.69 2,225,820.00


31 DEC 18




Partnership/Joint Venture InterestsUnited Kingdom - GBP

United States - USD

Page 198 of 321


Total United Kingdom - GBP 3,250,769.09 3,381,379.79

VIP II A (SF) LPCUSIP: 991PNQ996

VIP II A LPCUSIP: 991PNP998

&&& DOW OVER THE TOP ADJUSTMENTCUSIP: 000738195

AIG ALTARIS HEALTH PARTNERS IICUSIP: 991DAP999

ALTA BIOPHARMA PARTNERS III, LPCUSIP: 991DMW991

ALTA PARTNERS VIIICUSIP: 991DAR995

ALTA VCUSIP: 991DAU998

ALTARIS CONSTELLATION PARTNERS FUND IV LPCUSIP: 992S94994

ALTARIS HEALTH PARTNERSCUSIP: 991DAW994

ALTARIS HEALTH PARTNERS FUND IV LPCUSIP: 992S93996

ALTARIS HEALTH PARTNERS III, L.P.CUSIP: 991PHV992

AP Converse Co-Invest, L.P.CUSIP: 992Q92992

APAX US VII GP, LPCUSIP: 991DBB999

APOLLO INVESTMENT FUND VICUSIP: 991DBD995

ARAVIS VENTURE I, LPCUSIP: 991DME991

ARCH VENTURE FUND VICUSIP: 991DBG998

ARCH VENTURE FUND VIICUSIP: 991DBJ992


632,774.360 632,774.36 6,557.00

2,787,106.480 2,787,106.48 1,259,394.00

520,097.460 520,097.46 22,553.00

1.000 1.00 779,942.00

30,934,598.400 30,934,598.40 31,802,298.00

15,177,868.000 15,177,868.00 15,624,846.00

1,597,967.630 1,597,967.63 824,793.00

2,681,582.170 2,681,582.17 3,241,169.00

3,262,204.890 3,262,204.89 3,824,149.00

700.000 3,967,870.53 113,953.00

867,202.560 867,202.56 868,948.00

6,417,138.860 6,417,138.86 586,702.00

6,901,395.020 7,532,919.96 8,004,234.00

3,825,962.220 3,825,962.22 4,319,830.09

4,963,045.600 4,963,045.60 4,128,755.74

3,133,101.870 3,133,101.87 1,281,111.30

1,045,071.180 1,045,071.18 12,114,907.12

4,714,762.230 4,714,762.23 8,499,975.00


31 DEC 18




Partnership/Joint Venture InterestsUnited States - USD

Page 199 of 321


ARCLIGHT ENERGY PARTNERS FUND IIICUSIP: 991DBL997

ARTIMAN VENTURES IICUSIP: 991DBQ996

AURORA EQUITY PARTNERS IIICUSIP: 991DBS992

AVENUE SPECIAL SITUATIONS FUND VI (B-FEEDER)CUSIP: 991DBU997

BLACKROCK US CORE PROPERTY FUNDCUSIP: 992PYY996

BLACKSTONE PROPERTY PARTNERS LPCUSIP: 992R45998

BLACKSTONE REAL ESTATE PARTNERS VI TE 2 LPCUSIP: 991DBX991

BLACKSTONE REAL ESTATE PARTNERS VII LPCUSIP: 991DBY999

BLACKSTONE REAL ESTATE PARTNERS VIII TE 1 LPCUSIP: 9922ML998

CF ASIAVEST OPPORTUNITIES IV (ONLY DOW)FUNDCUSIP: 127994283

CIM MARKETPLACECUSIP: 9923X5999

CMEA VENTURES VI, LPCUSIP: 991DCD994

CYTOPHERXCUSIP: 991DQC991

EIG ENERGY FUND XVI LPCUSIP: 991LR3992

ENERGY FUND XV-A, L.P.CUSIP: 991DHD999

ENERGY RECAPITALIZATION AND RESTRUCTURING FUNDCUSIP: 991DCK998

FIRSTMARK CAPITAL ICUSIP: 991DCR993

FIRSTMARK IICUSIP: 991DCS991


2,261,311.830 2,261,311.83 440,540.00

735,943.480 735,943.48 1,231,741.00

2,325,797.540 2,325,797.54 3,862,667.00

1,783,496.980 1,783,496.98 620,824.00

3,485,449.030 3,485,449.03 846,864.00

619,350.770 619,350.77 809,707.99

848,713.880 848,713.88 881,354.34

4,104,110.060 4,104,110.06 4,024,475.79

3,921,084.800 3,921,084.80 6,184,075.73

2,141,717.130 2,141,717.13 2,050,655.01

1,405,875.020 1,405,875.02 414,147.00

2,739,063.570 2,739,063.57 1,879,343.00

204,815.000 204,815.00 802,883.00

17,944,141.000 17,944,141.00 20,557,958.00

807,830.670 807,830.67 19,585.00

6,204,322.460 6,204,322.46 6,582,219.66

5,401,316.000 5,401,316.00 5,365,989.00

3,353,079.350 3,353,079.35 56,483.00


31 DEC 18





Page 200 of 321


FOCUS VENTURES IIICUSIP: 991DCU996

FORTRESS CREDIT OPPORTUNITIES FUND II (B), LPCUSIP: 991DCW992

FORTRESS CREDIT OPPORTUNITIES FUND II (C)CUSIP: 991DCY998

FORWARD VENTURES IV, LPCUSIP: 991DDA999

FORWARD VENTURES VCUSIP: 991DDC995

FRAZIER HEALTHCARE VCUSIP: 991DDE991

FRAZIER HEALTHCARE VICUSIP: 991DDG996

GCM Grosvenor Infrastructure Partners LPCUSIP: 991DCH995

GLOBESPAN CAPITAL PARTNERS IV, LPCUSIP: 991DDN991

GLOBESPAN CAPITAL PARTNERS VCUSIP: 991DDQ994

GREENHILL CAPITAL PARTNERS IICUSIP: 991DDS990

HARBOUR GROUP INVESTMENTS VCUSIP: 991DDU995

HARRISON STREET REAL ESTATE PARTNERS III, LPCUSIP: 991DDW991

HD PENSION FARMLAND LLCCUSIP: 991DDY997

HIGH STREET REAL ESTATE FUND IV, INC.CUSIP: 991GFB998

HIGH STREET REAL ESTATE FUND V INCCUSIP: 992JAQ993

HSREP VI CO-INVESTMENT 3, LPCUSIP: 992RT3996

INTERSOUTH PARTNERS V LPCUSIP: 991DEG995


3,062,208.960 3,062,208.96 1,822,348.00

3,338,452.000 3,338,452.00 2,335,687.00

1,868,738.790 1,868,738.79 1,513,340.71

2,715,511.000 2,715,511.00 11,719,568.00

840,000.000 840,000.00 1,412,587.00

880,279.590 880,279.59 44,940.00

3,143,661.550 3,143,661.55 4,252,677.35

384,010.790 384,010.79 342,719.28

6,124,425.050 6,124,425.05 246,374.00

1.000 1.00 54,024.86

1.000 1.00 19,846.23

1.000 1.00 2,727.51

314,446.000 1.00 1.00

1,399,536.870 4,329,039.32 162,780.00

2,000,000.000 2,000,000.00 643,418.00

534,157.000 8,552,663.73 7,659,811.38

2,541,666.670 2,541,666.67 2,935,487.00

1,421,977.080 1,421,977.08 710,071.00


31 DEC 18





Page 201 of 321


INTERSOUTH PARTNERS VICUSIP: 991DEJ999

KKR MEZZANINE PARTNERS I, L.P.CUSIP: 991DEM992

LEXINGTON CAPITAL PARTNERS VIICUSIP: 991DEN990

LIMULUS VENTURE CAPITAL PARTNERS LPCUSIP: 991M75997

LIMULUS VENTURE PARTNERS II LIMITEDCUSIP: 991X16997

LONGITUDE VENTURE PARTNERSCUSIP: 991DEQ993

MACQUARIE INFRASTRUCTURE PARTNERS III, LPCUSIP: 991UBS994

MACQUARIE INFRASTRUCTURE PARTNERS IV LPCUSIP: 992NPD997

MATLIN PATTERSON GLOBAL OPPORTUNITIES PARTNERS IICUSIP: 991DET997

MEDIPHASE VENTURE PARTNERS (DP&UP) LPCUSIP: 991DEX998

MEDIPHASE VENTURE PTRS IICUSIP: 991DEZ993

MEDIPHASE VENTURE PTRS II (ANNEX FUND)CUSIP: 991DEV992

MEDTRONICCUSIP: 991DPF995

MEDVANTXCUSIP: 991DPJ997

MISSION VENTURES III, LPCUSIP: 991DFB995

MLP FORTRESS TRANSN & INFRASTRUCTURE INVS LL COM REPSTGLTD LIABILITY CO INTS CUSIP: 34960P101

MORGAN CREEK PRIVATE OPPORTUNITIES LLC SERIES BCARMENTA-LYFT CUSIP: 992MX1996

MPM BIOVENTURES IV-QPCUSIP: 991DFD991


1,037,291.900 1,037,291.90 1,085,359.00

2,647,982.560 2,647,982.56 2,825,148.27

3,856,820.000 3,856,820.00 89,267.00

3,322,487.640 3,322,487.64 6,589,294.68

45,932.000 45,932.00 781,251.00

3,013,558.560 3,013,558.56 503,650.00

2,510,687.260 2,510,687.26 2,749,043.00

5,681,844.640 5,681,844.64 5,173.02

10,389,116.200 10,389,116.20 710,020.00

3,939,400.450 3,939,400.45 1,372,188.00

1,203,969.570 1,203,969.57 1,320,651.00

1,895,287.440 1,895,287.44 1,174,444.00

3,846,790.900 3,846,790.90 1,633,035.00

1,853,384.000 1,853,384.00 1,755,159.00

7,461,208.190 7,461,208.19 371,475.00

1,619,802.470 1,619,802.47 707,575.16

3,516,323.060 3,516,323.06 1,826,878.00

2,776,349.670 2,776,349.67 4,082,435.00


31 DEC 18





Page 202 of 321


NOSON LAWEN PARTNERSCUSIP: 991DFF996

Pimco Bravo Fund lll Onshore Feeder TE LPCUSIP: 992MR2991

PANTHEON USA FUND IIICUSIP: 991DFG994

PIMCO BRAVO FUND OFFSHORE FEEDER II LPCUSIP: 991QAX993

PLATINUM EQUITY CAPITAL PARTNERSCUSIP: 991DFK995

PLATINUM EQUITY CAPITAL PARTNERS IICUSIP: 991DFM991

PLATINUM EQUITY CAPITAL PARTNERS III, L.P.CUSIP: 991LM4995

POLARIS VENTURE PTRS IICUSIP: 991DFN999

POLARIS VENTURE PTRS IIICUSIP: 991DFP994

POLARIS VENTURE PTRS IVCUSIP: 991DFQ992

POLARIS VENTURE PTRS VCUSIP: 991DFS998

POMONA CAPITAL VIIICUSIP: 991KV3999

PRESIDIO PARTNERS 2007, LPCUSIP: 991DCF999

PWP GROWTH EQUITY FUND II LPCUSIP: 992QMC995

QUAKER BIOVENTURESCUSIP: 991DFX997

QUAKER BIOVENTURES II LPCUSIP: 991DFZ992

RHO VENTURES VCUSIP: 991DGB994

SANDERLING VENTURE PTRS VICUSIP: 991DGD990


2,843,372.210 2,843,372.21 2,040,129.48

1.000 1.00 141,848.00

1,441,577.290 1,441,577.29 890,300.72

723,210.520 723,210.52 1,929,047.00

500,294.000 500,294.00 444,782.00

9,885,466.540 9,885,466.54 4,173,084.00

981,548.230 981,548.23 672,330.00

2,567,362.800 2,567,362.80 2,793,634.14

5,427,966.610 5,427,966.61 1,430,483.00

4,299,998.450 4,299,998.45 1.00

195,167.080 195,167.08 46,464.00

1,312,082.230 1,312,082.23 695,756.00

4,883,535.510 4,883,535.51 4,569,106.00

1,813,557.310 1,813,557.31 1.00

700,044.300 700,044.30 286,902.43

4,122,649.260 4,122,649.26 7,023,486.50

4,715,900.000 4,715,900.00 5,394,253.00

1,488,243.070 1,488,243.07 1.00


31 DEC 18





Page 203 of 321


SANDERLING VENTURE PTRS VI CO- INVCUSIP: 991DGF995

SIGULER GUFF DISTRESSED OPPORTUNITIES FUND IICUSIP: 991DGM990

SOFINNOVA VENTURE PARTNERS VIICUSIP: 991DGR999

SPECIAL SITUATION PARTNERS IICUSIP: 991DGT995

STONEPEAK INFRASTRUCTURE FUND III LPCUSIP: 992QHF994

STRATFORD LAND FUND IIICUSIP: 991DGV990

STRATFORD LAND FUND III-ACUSIP: 991DGX996

STRATFORD LAND FUND IV LPCUSIP: 991DGZ991

TCW ENERGY FUND XIV-ACUSIP: 991DHE997

TECTURACUSIP: 991DPV990

THE HURON FUND II, LPCUSIP: 991DEB996

THE HURON FUND III, LPCUSIP: 991DED992

THE HURON FUND IV LPCUSIP: 991KW9995

TRANSMOLECULARCUSIP: 991DPZ991

US VENTURE PARTNERS IXCUSIP: 991DHK993

WARBURG PINCUS PRIVATE EQUITY XI, LPCUSIP: 991GEY999

WARBURG PINCUS PRIVATE EQUITY XII LPCUSIP: 9924JY990

WELLSPRING CAPITAL PARTNERS IVCUSIP: 991DHP992


657,602.100 657,602.10 70,193.00

1,140,848.890 1,140,848.89 671,180.00

1,425,000.000 1,425,000.00 1,288,354.00

3,645,866.650 3,645,866.65 3,821,161.00

2,889,110.010 2,889,110.01 4,648,307.00

10,204,475.000 10,204,475.00 13,617,258.00

171,386.060 171,386.06 1.00

4,253,594.000 4,253,594.00 6,279,602.00

4,884,507.000 4,884,507.00 5,613,972.00

2,359,281.970 2,359,281.97 17,638,851.00

8,458,981.360 8,458,981.36 24,565,605.00


31 DEC 18





Real Estate - Income Producing

United States - USD

United States - USD

Page 204 of 321



Total Partnership/Joint Venture Interests 457,889,454.94 380,803,394.85


Total Real Estate - Income Producing 30,332,225.39 67,715,289.00

WIND POINT PARTNERS VICUSIP: 991DHY993

5AM PARTNERS II LLCCUSIP: 991DAJ993

5AM VENTURE PARTNERS V LPCUSIP: 992BA0997

5AM VENTURES IIICUSIP: 991DAK990

5AM VENTURES IV LPCUSIP: 991NM2995

L&B - THE FORUMCUSIP: 991LRT995

L&B CYPRESSWOOD PLACE LLCCUSIP: 991DLZ995

L&B SENIOR CARE STRATEGIES- PLANOCUSIP: 991PMF991

L&B SENIOR CARE STRATEGIES- SOUTHLAKE LLCCUSIP: 991M51998

L&B 5500 PRESTON RD INCCUSIP: 991DMH994

ONE BISCAYNE TOWER LLCCUSIP: 991DMK997


20,757,371.870 226,506,572.16 250,230,034.86

181,091.910 1,499,029.33 1,360,436.31

10,928,005.952 109,944,517.48 118,864,008.16

77,921,808.930 119,797,874.23 137,737,628.42

0.010 0.00 0.20

770,071.160 7,700,784.82 10,617,168.22

0.010 0.01 0.15

7,022,822.052 99,885,642.11 118,836,627.17

6,567,733.080 89,156,075.86 88,633,547.94

3,191,276.240 31,912,762.40 32,575,395.81

0.010 0.01 0.14

257,945.530 2,432,034.56 1,580,646.62

3,266,048.130 34,787,804.52 68,546,034.89

7,168,655.197 82,340,990.00 77,829,809.90

137,711.790 1,657,210.07 1,679,771.37

4,344,580.610 79,854,220.67 88,252,043.78

523,422.970 11,296,388.07 11,362,633.33

0.010 0.01 0.13


31 DEC 18




Value of Interest in Master TrustsUnited States - USD

Page 205 of 321


MFO DOW CHEM ABSOLUTE RETURN UNIT 12CUSIP: 787992627

MFO DOW CHEM EMERGING MRKT (PASSIVE) UNIT 11CUSIP: 787995570

MFO DOW CHEM EMERGING MRKT EQTY UNIT 10CUSIP: 787992197

MFO DOW CHEM OPPORTUN FI UNIT 13CUSIP: 787992635

MFO DOW CHEM REAL ESTATE NON-CORE UNIT 17CUSIP: 787992593

MFO DOW CHEM REAL ESTATE REIT UNIT 18CUSIP: 787992601

MFO DOW CHEMICAL CONVERTIBLES UNIT 3CUSIP: 787992239

MFO DOW CHEMICAL GLOBAL EQUITY UNIT 9CUSIP: 787992312

MFO DOW CHEMICAL INT'L DEVELOPED EQUITY UNIT 8CUSIP: 787992304

MFO DOW CHEMICAL INT'L DEVELOPED SMALL CAP EQUITY UNIT 23CUSIP: 14399D713

MFO DOW CHEMICAL LEGACY RH INFRASTRUCTURE UNIT15 CUSIP: 787992338

MFO DOW CHEMICAL REAL ASSETS & INFRASTRUCTUREPUBLIC UNIT 19 CUSIP: 787992122

MFO DOW CHEMICAL REAL ESTATE CORE OE FUNDS UNIT 16CUSIP: 787992585

MFO DOW CHEMICAL REINSURANCE UNIT 22CUSIP: 01299B129

MFO DOW CHEMICAL TACTICAL FIXED INCOME UNIT 1CUSIP: 787992213

MFO DOW CHEMICAL US LARGE CAP EQUITY UNIT 4CUSIP: 787992247

MFO DOW CHEMICAL US LCE (PASSIVE) UNIT 5CUSIP: 787992254

MFO DOW CHEMICAL US LONG GOV/CREDIT FI UNIT 2CUSIP: 787992205


6,921,946.397 76,617,780.95 126,457,114.88

340,000.000 339,398.20 343,425.16

50,000.000 87,059.00 76,878.50

410,000.000 416,508.90 412,045.90

335,000.000 332,129.05 313,250.46

220,000.000 302,192.00 258,044.60

340,000.000 339,316.60 334,162.20

650,000.000 648,082.50 633,339.85

180,000.000 269,317.09 249,760.26

330,000.000 326,607.60 320,893.65

290,000.000 397,062.10 345,169.60

250,000.000 247,915.00 227,905.50


31 DEC 18




Value of Interest in Master Trusts

Other

United States - USD

Canada - USD

Indonesia - USD

Page 206 of 321


Total United States - USD 975,389,687.26 1,134,562,902.28

Total Value of Interest in Master Trusts 975,389,687.26 1,134,562,902.28

Total Canada - USD 3,457,673.04 3,286,970.18

Total Indonesia - USD 247,915.00 227,905.50

MFO DOW CHEMICAL US SM/MID CAP EQUITY UNIT 6CUSIP: 787992262

ALBERTA PROV CDA BD 3.3% DUE 03-15-2028 REGCUSIP: 013051EA1

HYDRO-QUEBEC DEB SER HK DTD 04/15/1990 9.375% DUE04-15-2030 BEO SEDOL: 2447382

MAN PROV CDA DEB 3.05 DUE 05-14-2024 REGCUSIP: 563469UD5

MANITOBA PROV CDA DEB SER GM 2.125% DUE 06-22-2026 REGCUSIP: 563469UL7

NOVA SCOTIA PROV CDA 8.75% DUE 04-01-2022 BEOCUSIP: 669827DM6

PROV OF NEW BRUNSWIC PRV 2.5% DUE 12-12-2022 BEOSEDOL: BFB3VS7

PVTPL PPIB CAP INC C 2.75% 11-02-2027CUSIP: 22411VAD0

QUEBEC PROV CDA PROVINCE DE QUEBEC GLOBAL NOTE 7.5%DUE 09-15-2029 BEO CUSIP: 748148QR7

QUEBEC PROV CDA 2.75% DUE 04-12-2027 BEOCUSIP: 748149AN1

QUEBEC(PROV OF) 7.125% 02-09-2024SEDOL: B4WJFV8

REPUBLIC OF INDONESIA 4.35% DUE 01-11-2048 REGCUSIP: 455780CE4


310,000.000 306,980.60 308,246.64

500,000.000 498,620.00 452,500.00

200,000.000 169,300.00 177,100.00

250,000.000 247,787.50 239,375.00

100.000 1.00 41,948.00

120,000.000 165,501.60 170,899.20

50,000.000 60,300.00 59,790.00

80,000.000 114,408.30 117,239.20

140,000.000 192,631.30 222,483.80

160,000.000 175,564.40 198,560.00

250,000.000 359,359.00 340,245.00

60,000.000 87,560.30 87,178.20

1,225,000.000 1,739,683.90 1,691,100.25


31 DEC 18




OtherKuwait - USD

Mexico - USD


United States - USD

Page 207 of 321


Total Kuwait - USD 306,980.60 308,246.64

Total Mexico - USD 667,920.00 629,600.00


KUWAIT ST NT 144A 3.5% DUE 03-20-2027 BEOCUSIP: 501499AB3

PETROLEOS MEXICANOS 3.5% 01-30-2023CUSIP: 71654QBG6

UNITED MEXICAN STS 4.6% DUE 01-23-2046CUSIP: 91086QBF4

PVPTL ABU DHABI GOVT INT'L 4.125% 10-11-2047CUSIP: 29135LAB6

&&& CARDIAC ASSIST HOLDING DOWCUSIP: 000925024

ALAMEDA CNTY CALIF JT PWRS AUTH LEASE REV 7.046%12-01-2044 BEO TAXABLE SEDOL: BHT9SP7

ALAMEDA CORRIDOR TRANSN AUTH CAL REV TAXABLE SER C 6.6DUE 10-01-2029 BEO SEDOL: BGL2B92

AMERICAN MUN PWR OHIO INC REV 7.834% 02-15-2041 BEOTAXABLE SEDOL: B51JWV5

AMERICAN MUN PWR OHIO INC REV 8.084% 02-15-2050 BEOTAXABLE SEDOL: B52FJL1

AMERN MUN PWR OH INC REV 6.27 DUE 02-15-2050SEDOL: BZ1JY97

BAY AREA TOLL AUTH CALIF TOLL BRDG REV 6.263 04-01-2049BEO SEDOL: B523F62

CALIFORNIA ST PUB WKS BRD LEASE REV 8.361% 10-01-2034BEO TAXABLE SEDOL: B57MCS5

CALIFORNIA ST TAXABLE-BUILD AMER BDS 7.35% DUE11-01-2039 REG TAXABLE SEDOL: B5BGSJ6


1,215,000.000 1,527,898.81 1,667,854.80

20,000.000 29,501.20 27,254.60

2,225,000.000 2,646,170.25 3,167,932.75

100,000.000 131,443.10 143,255.00

-450,000,000.000 -3,500,000.00 -6,645,523.50

-125,000,000.000 -500,000.00 -1,502,695.00

125,000,000.000 1,290,000.00 2,962,771.25

450,000,000.000 8,200,000.00 13,803,669.00

-450,000,000.000 -4,919,000.00 -8,008,722.00

-450,000,000.000 -3,307,000.00 -6,633,783.00

-215,000,000.000 -1,340,000.00 -2,584,635.40

215,000,000.000 2,480,000.00 4,382,701.90

450,000,000.000 6,882,000.00 12,369,775.50

450,000,000.000 9,867,000.00 15,009,025.50

4,694,679.530 4,694,679.53 4,694,679.53

130,000.000 163,090.20 166,073.70

40,000.000 47,327.23 48,084.40

100,000.000 118,512.00 121,439.00


31 DEC 18




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Page 208 of 321


CALIFORNIA ST 7.3% 10-01-2039 BEO TAXABLESEDOL: B54BZ20

CALIFORNIA ST 7.5% 04-01-2034 BEO TAXABLESEDOL: B41WH12

CALIFORNIA ST 7.625% 03-01-2040 BEO TAXABLESEDOL: B52J623

CALIFORNIA STATE 7.55 MUN BDS DUE 04-01-2039 USD5000SEDOL: B41WHL2

CALL SWO USD CITIUS33 P 3MLIBOR / R 2.6% European 10276309/18/2019 SEDOL: 9J2CPNU

CALL SWO USD CITIUS33 P 3MLIBOR / R 2.75% European 10273203/20/2019 SEDOL: 9J2CPHU

CALL SWO USD CITIUS33 P 3MLIBOR / R 2.95% European 10273003/20/2019 SEDOL: 9J2CPKU

CALL SWO USD CITIUS33 P 3MLIBOR / R 2.95% European 10285409/18/2019 SEDOL: 9J2CPGU

CALL SWO USD MSCSUS33 P 3MLIBOR / R 2.6% European 10226112/18/2019 SEDOL: 9J26PHU

CALL SWO USD MSCSUS33 P 3MLIBOR / R 2.7% European 10225806/19/2019 SEDOL: 9J24B5U

CALL SWO USD MSCSUS33 P 3MLIBOR / R 2.75% European 10256103/20/2019 SEDOL: 9J29KYU

CALL SWO USD MSCSUS33 P 3MLIBOR / R 2.9% European 10256303/20/2019 SEDOL: 9J29KWU

CALL SWO USD MSCSUS33 P 3MLIBOR / R 2.95% European 10226006/19/2019 SEDOL: 9J26NZU

CALL SWO USD MSCSUS33 P 3MLIBOR / R 2.95% European 10226312/18/2019 SEDOL: 9J26PJU

CCP DUE TO/FROM MORGAN STANLEYSEDOL: 9AYQMLU

CHGO ILL TRAN AUTH SALES & TRANSFER T 6.899 DUE12-01-2040 REG SEDOL: B3CDB04

CHICAGO ILL MET WTR RECLAMATION DIST GTRCHICAGO 5.72%12-01-2038 BEO TAXABLE SEDOL: B44DFZ2

CHICAGO ILL TRAN AUTH SALES TAX RCPTS REV 6.2% 12-01-2040BEO TAXABLE SEDOL: B58NYY7


40,000.000 35,698.40 35,459.60

12,070,000.000 0.00 0.00

-12,070,000.000 0.00 -1,093,855.70

80,000.000 97,136.80 91,528.00

1,000,000.000 1,000,000.00 999,040.00

30,000.000 30,709.80 33,177.00

490.220 490.22 490.22

1,959.800 0.00 1,604,526.02

1,439.000 0.00 0.00

2,659.528 0.00 672,430.41

1,989.795 0.00 0.00

2,090.714 0.00 424,112.25

2,824.349 0.00 0.00

390,000.000 1,234,662.00 583,257.76

-390,000.000 -499,161.00 -167,626.91

900,000.000 2,700,000.00 1,928,582.04

-900,000.000 -990,000.00 -515,681.66

-390,000.000 -702,741.00 -847,650.71


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CHICAGO ILL 5.432% 01-01-2042 BEO TAXABLESEDOL: BYYWTX5

CME_IRS CME_MSCSUS USD P 3M LIBOR/R 2.39% 23 JAN 2045IR208346 SEDOL: 9D6JX7U

CME_IRS CME_MSCSUS USD P 3M LIBOR/R 2.39% 23 JAN 2045IR208346 SEDOL: 9D6JX7L

CONNECTICUT ST 5.85% 03-15-2032 BEO TAXABLESEDOL: B2R0JK9

DENVER COLO PUB SCHS CTFS PARTN REF-TAXABLE-SER B2.798 DUE 12-15-22 SEDOL: BGNX5G8

DISTRICT COLUMBIA WTR & SWR AUTH PUB UTITAXABLE-SR LIEN-SERA 4.814 10-01-2114 SEDOL: BHPZGK0

DOW CHEMICAL-CUSTOM FUNDCUSIP: 2609999A7

EIS CITIUS33 03/28/2019 USD STANDARD & PO/3M LIBOR 90184SEDOL: 9GXQAPU

EIS CITIUS33 03/28/2019 USD 3M LIBOR/S&P 500 EQUAL 90185SEDOL: 9GXQAQU

EIS CITIUS33 08/23/2019 USD STANDARD & PO/3M LIBOR 95275SEDOL: 9H8VNGU

EIS CITIUS33 08/23/2019 USD 3M LIBOR/S&P 500 EQUAL 95277SEDOL: 9H8VNFU

EIS MSCSUS33 03/21/2019 USD 3M LIBOR/S&P 500 EQUAL 90013SEDOL: 9G9XHXU

EIS MSCSUS33 03/21/2019 USD 3M LIBOR/STANDARD & PO 90028SEDOL: 9G9XHUU

EQ C OP MSCSUS33 61.7 05-17-2019 97764SEDOL: 9HZ8QNU

EQ C OP MSCSUS33 65.5 05-17-2019 97765SEDOL: 9HZ8QPU

EQ C OP SOGEUS33 60.25 06-21-2019 103161SEDOL: 9J2HWDU

EQ C OP SOGEUS33 65 06-21-2019 103162SEDOL: 9J2HVZU

EQ P OP MSCSUS33 58 05-17-2019 97766SEDOL: 9HZ4CDU


-900,000.000 -1,855,620.00 -1,870,034.63

23,000.000 3,220,000.00 2,391,362.03

-23,000.000 -1,794,000.00 -1,073,857.42

-23,000.000 -2,047,000.00 -2,496,087.15

11,000,000.000 0.00 0.00

14,000,000.000 0.00 0.00

945,000.000 912,038.40 936,258.75

-172.000 -41,757,776.76 -41,860,500.00

172.000 41,757,776.76 41,860,500.00

-14.000 -3,395,047.68 -3,413,550.00

14.000 3,395,047.68 3,413,550.00

8.000 1,960,000.00 1,946,300.00

-8.000 -1,960,000.00 -1,946,300.00

106.000 16,182,473.08 17,029,562.50

-106.000 -16,182,473.08 -17,029,562.50

-98.000 -12,290,343.75 -12,747,656.25

98.000 12,290,343.75 12,747,656.25

-346.000 -39,017,273.60 -39,681,875.00


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Page 210 of 321


EQ P OP SOGEUS33 56 06-21-2019 103163SEDOL: 9J2HWCU

EQX C OP SOGEUS33 2575 06-21-2019 103164SEDOL: 9J2HVYU

EQX C OP SOGEUS33 2725 06-21-2019 103165SEDOL: 9J2HWEU

EQX P OP SOGEUS33 2425 06-21-2019 103166SEDOL: 9J2HVWU

EX RET SWP USD SOGEUS33 05-15-2019 103196SEDOL: 9J2LUXU

EX RET SWP USD ZERO 0.0%/ GOLDUS33 05-15-2019 103195SEDOL: 9J2LUVU

FAIRFAX CNTY VA WTR AUTH WTR REV 2.875% 04-01-2025 BEOTAXABLE SEDOL: BJ0Y1Z6

FUT DEC 19 EURO DOLLARSCUSIP: 999599GH0




FUT JUN 19 EURO DOLLARSCUSIP: 999599GH0


FUT MAR 19 CBT UL T-BONDSCUSIP: 999599GH0


FUT MAR 19 CBT ULT TNOTECUSIP: 999599GH0


FUT MAR 19 CBT 5Y T-NOTECUSIP: 999599GH0


346.000 39,017,273.60 39,681,875.00

-612.000 -85,324,406.67 -89,352,000.00

612.000 85,324,406.67 89,352,000.00

220.000 46,390,771.04 46,708,750.00

-220.000 -46,390,771.04 -46,708,750.00

-20.000 -2,319,512.48 -2,440,312.51

20.000 2,319,512.48 2,440,312.51

40,000.000 40,674.62 46,977.60

3,000.000 0.00 0.00

540,000.000 781,849.80 776,294.28

500,000.000 640,704.05 634,679.00

80,000.000 80,000.00 85,378.40

-1,400,000.000 0.00 0.00

1,400,000.000 0.00 62,231.19

-3,500,000.000 0.00 0.00

3,500,000.000 0.00 518,483.07

-1,500,000.000 0.00 0.00

1,500,000.000 0.00 37,658.16


31 DEC 18





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FUT MAR 19 U.S. T-BONDSCUSIP: 999599GH0


FUT MAR 19 US 2YR T-NOTECUSIP: 999599GH0


FUT MAR 19 10 YR T-NOTESCUSIP: 999599GH0


GRAND PARKWAY TRANSN CORP TEX SYS TOLL REV 5.184%10-01-2042 BEO TAXABLE SEDOL: BCFKLB6

GREENSTONE VENTURE LTD PHYSICAL ASSOCIATEDCUSIP: 000783381

HYDRO-QUEBEC DEB SER HE 8.625% DUE 06-15-2029 REGSEDOL: 2451480

ISRAEL(STATE OF) AID-ISRAEL 5.5% DUE 09-18-2033 REGCUSIP: 46513EFG2

JOBSOHIO BEVERAGE SYS OHIO STATEWIDE LIQUOR PROFITS REV4.532% 01-01-2035 BEO SEDOL: B9HL525

LCH_IRS LCH_MSCSUS USD P 1.81%/R 3M LIBOR 03 FEB 2025IR208377 SEDOL: 9D32TEL

LCH_IRS LCH_MSCSUS USD P 1.81%/R 3M LIBOR 03 FEB 2025IR208377 SEDOL: 9D32TEU

LCH_IRS LCH_MSCSUS USD P 1.97%/R 3M LIBOR 06/13/2041IR209464 SEDOL: 9E6GXLL

LCH_IRS LCH_MSCSUS USD P 1.97%/R 3M LIBOR 06/13/2041IR209464 SEDOL: 9E6GXLU

LCH_IRS LCH_MSCSUS USD P 2.07%/R 3M LIBOR 20 MAR 2024IR208169 SEDOL: 9D4CDQL

LCH_IRS LCH_MSCSUS USD P 2.07%/R 3M LIBOR 20 MAR 2024IR208169 SEDOL: 9D4CDQU


-900,000.000 0.00 0.00

900,000.000 0.00 30,469.52

-400,000.000 0.00 0.00

400,000.000 0.00 21,995.83

1,290,000.000 6,880.99 0.00

-1,290,000.000 0.00 -10,402.46

550,000.000 0.00 4,455.02

-550,000.000 0.00 0.00

-1,200,000.000 -2,590.72 -28,517.69

1,200,000.000 0.00 0.00

390,000.000 0.00 0.00

-390,000.000 -1,451.55 -13,143.88

7,890,000.000 0.00 0.00

-7,890,000.000 0.00 -269,255.56

5,000,000.000 201,690.00 0.00

-5,000,000.000 0.00 -74,925.65

-1,300,000.000 0.00 -42,744.83

1,300,000.000 0.00 0.00


31 DEC 18





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LCH_IRS LCH_MSCSUS USD P 2.4%/R 3M LIBOR 25 FEB 2030IR208245 SEDOL: 9D3K83L

LCH_IRS LCH_MSCSUS USD P 2.4%/R 3M LIBOR 25 FEB 2030IR208245 SEDOL: 9D3K83U

LCH_IRS LCH_MSCSUS USD P 2.5%/R 3M LIBOR 18 MAR 2040IR208311 SEDOL: 9D48VZL

LCH_IRS LCH_MSCSUS USD P 2.5%/R 3M LIBOR 18 MAR 2040IR208311 SEDOL: 9D48VZU

LCH_IRS LCH_MSCSUS USD P 2.75%/R 3M LIBOR 03/20/2026IR212455 SEDOL: 9J27ZXU

LCH_IRS LCH_MSCSUS USD P 2.75%/R 3M LIBOR 03/20/2026IR212455 SEDOL: 9J27ZXL

LCH_IRS LCH_MSCSUS USD P 2.8%/R 3M LIBOR 27 JUL 2045IR208180 SEDOL: 9D8HDXU

LCH_IRS LCH_MSCSUS USD P 2.8%/R 3M LIBOR 27 JUL 2045IR208180 SEDOL: 9D8HDXL

LCH_IRS LCH_MSCSUS USD P 3.0%/R 3M LIBOR 03/20/2034IR212453 SEDOL: 9J27A2L

LCH_IRS LCH_MSCSUS USD P 3.0%/R 3M LIBOR 03/20/2034IR212453 SEDOL: 9J27A2U

LCH_IRS LCH_MSCSUS USD P 3.0%/R 3M LIBOR 03/20/2049IR212451 SEDOL: 9J27ZWU

LCH_IRS LCH_MSCSUS USD P 3.0%/R 3M LIBOR 03/20/2049IR212451 SEDOL: 9J27ZWL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 1.99% 23 JAN 2025IR208262 SEDOL: 9D2JHYU

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 1.99% 23 JAN 2025IR208262 SEDOL: 9D2JHYL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.0% 06/15/2021IR209104 SEDOL: 9E6GYJU

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.0% 06/15/2021IR209104 SEDOL: 9E6GYJL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.02% 10 FEB 2025IR208435 SEDOL: 9D38AFL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.02% 10 FEB 2025IR208435 SEDOL: 9D38AFU


1,000,000.000 0.00 0.00

-1,000,000.000 0.00 -27,307.73

2,600,000.000 172,205.80 0.00

-2,600,000.000 0.00 -68,700.19

12,400,000.000 0.00 0.00

-12,400,000.000 0.00 -845,401.37

795,000.000 0.00 0.00

-795,000.000 0.00 -44,806.06

520,000.000 0.00 0.00

-520,000.000 0.00 -37,355.83

600,000.000 62,100.00 0.00

-600,000.000 0.00 -27,354.62

800,000.000 95,340.00 0.00

-800,000.000 0.00 -53,548.90

-3,640,000.000 -10,559.64 0.00

3,640,000.000 0.00 19,044.19

-100,000,000.000 0.00 0.00

100,000,000.000 0.00 2,045,175.00


31 DEC 18





Page 213 of 321


LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.13% 03 MAR 2025IR208263 SEDOL: 9D3Q71U

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.13% 03 MAR 2025IR208263 SEDOL: 9D3Q71L

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.25% 06/15/2026IR209119 SEDOL: 9E6GYUU

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.25% 06/15/2026IR209119 SEDOL: 9E6GYUL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.3% 23 JAN 2035IR208170 SEDOL: 9D2JJAU

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.3% 23 JAN 2035IR208170 SEDOL: 9D2JJAL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.39% 30 APR 2035IR208242 SEDOL: 9D5VMMU

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.39% 30 APR 2035IR208242 SEDOL: 9D5VMML

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.4% 09 APR 2040IR208254 SEDOL: 9D5227U

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.4% 09 APR 2040IR208254 SEDOL: 9D5227L

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.5% 06/15/2036IR209121 SEDOL: 9E6GYKU

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.5% 06/15/2036IR209121 SEDOL: 9E6GYKL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.5% 06/15/2046IR209122 SEDOL: 9E6GYEU

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.5% 06/15/2046IR209122 SEDOL: 9E6GYEL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.75% 03/20/2022IR212458 SEDOL: 9J27B8L

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.75% 03/20/2022IR212458 SEDOL: 9J27B8U

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.97% 12/20/2029 102858SEDOL: 9J2CLHL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.97% 12/20/2029 102858SEDOL: 9J2CLHU


300,000.000 2,568.00 7,447.75

-300,000.000 0.00 0.00

-200,000.000 -70.66 0.00

200,000.000 0.00 5,072.92

130,000.000 179,268.70 178,622.60

10,000.000 15,240.60 14,458.70

45,000.000 51,348.30 62,398.35

100,000.000 97,823.00 121,353.00

30,000.000 43,678.50 43,816.50

110,000.000 112,201.27 134,697.20

150,000.000 152,010.98 182,952.00

60,000.000 79,357.80 73,842.60

100,000.000 100,000.00 94,410.00

20,000.000 29,091.20 27,321.40

2,200,000.000 2,200,000.00 2,666,246.00

1,245,000.000 1,245,000.00 1,459,837.20

85,000.000 84,575.00 86,632.85

1,190,000.000 1,176,838.60 1,362,645.20


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Page 214 of 321


LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 3.0% 03/20/2029IR212454 SEDOL: 9J27C5U

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 3.0% 03/20/2029IR212454 SEDOL: 9J27C5L



LOS ANGELES CALIF CMNTY COLLEGE DIST 6.6% 08-01-2042 BEOTAXABLE SEDOL: B4RDT46

LOS ANGELES CALIF CMNTY COLLEGE DIST 6.75% 08-01-2049BEO TAXABLE SEDOL: B4LSB85

LOS ANGELES CALIF DEPT WTR & PWR REV 6.574% 07-01-2045BEO TAXABLE SEDOL: B42HW33

LOS ANGELES CALIF DEPT WTR & PWR WTRWKS REV 6.008%07-01-2039 BEO TAXABLE SEDOL: B4XQLP4

LOS ANGELES CNTY CALIF PUB WKS FING AUTHLEASE REV 7.618%08-01-2040 BEO TAXABLE SEDOL: B4LZW83

MA ST SCH BLDG AUTH DEDICATED TAX BUILD AMER BDS-B 5.715DUE 08-15-2039 SEDOL: B5326D2

MASSACHUSETTS ST TRANSN FD REV 5.731% 06-01-2040 BEOTAXABLE SEDOL: B56YM37

METROPOLITAN TRANSN AUTH N Y DEDICATED TAX FD 6.089%11-15-2040 BEO TAXABLE SEDOL: B4QSHD7

MISSOURI ST HEALTH & EDL FACS AUTH EDL FACS REV 3.652%08-15-2057 BEO TAXABLE CUSIP: 60636APP2

NEW JERSEY ST TPK AUTH TPK REV 7.102% 01-01-2041 BEOTAXABLE SEDOL: B4WN3T4

NEW YORK N Y CITY MUN WTR FIN AUTH WTR &SWR SYS REV 5.44%06-15-2043 BEO TAXABLE SEDOL: B3L4RJ9

NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5.572%11-01-2038 BEO TAXABLE SEDOL: B56SPB8

NEW YORK ST DORM AUTH REVS NON ST -4.946% 08-01-2048 OID4.978 @99.5 SEDOL: BFYY4X3

NEW YORK ST DORM AUTH ST PERS INCOME TAXREV 5.5% 03-15-2030BEO TAXABLE SEDOL: B5W07M3


845,000.000 845,000.00 1,083,501.25

80,000.000 105,850.40 103,257.60

180,000.000 194,947.20 197,177.40

70,000.000 80,704.81 79,685.20

15,340,000.000 15,340,000.00 15,340,000.00

3,690,000.000 3,690,000.00 3,690,000.00

840,000.000 840,000.00 840,000.00

70,000.000 70,061.48 71,218.70

110,000.000 118,864.07 119,446.80

150,000.000 176,601.00 182,682.00

-125,000,000.000 -500,000.00 -154,933.75

-450,000,000.000 -3,800,000.00 -2,202,030.00

-215,000,000.000 -1,230,000.00 -451,482.80

-450,000,000.000 -2,972,000.00 -1,331,545.50

-450,000,000.000 -4,869,000.00 -2,941,789.50

70,000.000 70,000.00 63,237.30

60,000.000 60,000.00 59,796.00

2,945,000.000 3,167,322.95 3,345,254.95


31 DEC 18





Page 215 of 321


NY N Y CY MUN WTR FIN AUTH WTR 5.882 DUE06-15-2044 BEOTAXABLE MUNI SEDOL: B3TZ6C0

NY N Y CY MUN WTR FIN AUTH WTR&TAXABLE 2ND GENSER EE 6.0116-15-2042BEO TAXABLE SEDOL: B4NQPM9

OH ST UNIV GEN RCPTS TAXABLE-SER A 4.8 DUE 06-01-2111SEDOL: B5VY9Z3

OHIO UNIV GEN RCPTS ATHENS 5.59% 12-01-2114 BEOTAXABLE SEDOL: BJ7N929

OTC DER CASH COLL REC FROM MS CAPITAL SERVICESSEDOL: 9B45N5U

OTC DER CASH COLL REC FROM SOCIETE GENERALESEDOL: 9B3XGBU

OTC DERIVATIVE CASH COLLATERAL RECEIVABLE FROM USDGSAMUS33 SEDOL: 9A32GTU

PORT AUTH N Y & N J 4.458% 10-01-2062 BEO TAXABLESEDOL: B8FPQ52

PORT AUTH N Y & N J 4.81% 10-15-2065 BEOTAXABLESEDOL: BJ10175

PORT AUTH N Y & N J 5.647 ONE HUNDRED SIXTY(FIFTH)11-01-40 SEDOL: B3WV4Q5

PUT SWO USD CITIUS33 P 3.15% / R 3MLIBOR European 10273103/20/2019 SEDOL: 9J2CPFU

PUT SWO USD CITIUS33 P 3.3% / R 3MLIBOR European 10276209/18/2019 SEDOL: 9J2CPPU

PUT SWO USD MSCSUS33 P 3.05% / R 3MLIBOR European 10256203/20/2019 SEDOL: 9J29MTU

PUT SWO USD MSCSUS33 P 3.25% / R 3MLIBOR European 10225906/19/2019 SEDOL: 9J26PAU

PUT SWO USD MSCSUS33 P 3.35% / R 3MLIBOR European 10226212/18/2019 SEDOL: 9J26NYU

SALES TAX SECURITIZATION CORP ILL 3.587%01-01-2043 BEOTAXABLE CUSIP: 79467BAR6

SUMTER LANDING CMNTY DEV DIST FLA RECREATIONAL REV4.172% 10-01-2047 BEO SEDOL: BD0NJD5

TEXAS TRANSN COMMN ST HWY FD REV 5.178% 04-01-2030 BEOTAXABLE SEDOL: B52BMP4


1,000,000.000 979,560.00 991,940.00

60,000.000 60,000.00 60,215.40

200,000.000 200,258.60 205,636.00

30,000.000 31,342.50 31,491.60

90,000.000 90,000.00 81,520.20

90,000.000 90,000.00 87,610.50

1,275,000.000 1,405,011.75 1,436,823.00

1,500,000.000 1,412,880.00 1,440,570.00

0.000 0.00 0.00

0.000 0.00 0.00

0.000 0.00 0.00

0.000 0.00 0.000.000 0.00 0.00

0.000 0.00 0.00

0.000 0.00 0.00

0.000 0.00 0.00

0.000 0.00 0.00

0.000 0.00 0.00


31 DEC 18





Page 216 of 321



Total - all currencies 0.00 0.00

Total Other 56,970,301.28 74,136,542.01

UNIVERSITY CALIF REVS 2.3% 05-15-2021 BEO TAXABLESEDOL: BZ04CJ9

UNIVERSITY CALIF REVS 4.131% 05-15-2045 BEO TAXABLESEDOL: BWDP715

UNIVERSITY CALIF REVS 4.767% 05-15-2115 BEO TAXABLESEDOL: BYSZTY1

UNIVERSITY CALIF REVS 4.858% 05-15-2112 BEO TAXABLESEDOL: B7MQN72

UNIVERSITY TEX PERM UNIV FD 3.376% 07-01-2047 BEOTAXABLE SEDOL: BZ7MMZ2

UNIVERSITY VA UNIV REVS 4.179% 09-01-2117 BEOTAXABLE SEDOL: BJN9P56

VIRGINIA ST PUB BLDG AUTH PUB FACS REV 5.25% 08-01-2025BEO TAXABLE SEDOL: BJ16Q90

WISCONSIN ST GEN FD ANNUAL APPROPRIATIONREV 2.049%05-01-2023 BEO TAXABLE SEDOL: BHS84H9

AUD - Australian dollar


CHF - Swiss franc

DKK - Danish krone

EUR - Euro

IDR - Indonesian rupiah

JPY - Japanese yen

PLN - Polish zloty

SEK - Swedish krona



-1,959.800 0.00 0.00-1,439.000 0.00 -1,602,222.06

-2,659.528 0.00 0.00

-1,989.795 0.00 -946,697.14

-2,090.714 0.00 0.00

-2,824.349 0.00 -501,450.79

-14,000,000.000 0.00 -962,938.90

-11,000,000.000 0.00 -716,086.14-4,580,000.000 -4,580,000.00 -4,580,000.00

-21,390,000.000 -21,390,000.00 -21,390,000.00

0.000 -1,870,481.42 -1,870,481.42

0.000 0.00 0.00

0.000 0.00 0.00


31 DEC 18




Other Liabilities

Payable Other

United States - USD

United States - USD

Page 217 of 321


Total United States - USD -25,970,000.00 -30,699,395.03

Total - all currencies -1,870,481.42 -1,870,481.42

Total Other Liabilities -27,840,481.42 -32,569,876.45

Total United States - USD 0.00 0.00

Total Payable Other 0.00 0.00

Total 2,874,136,911.27 2,995,886,232.13

EIS CITIUS33 03/28/2019 USD STANDARD & PO/3M LIBOR 90184

EIS CITIUS33 03/28/2019 USD 3M LIBOR/S&P 500 EQUAL 90185



EIS MSCSUS33 03/21/2019 USD 3M LIBOR/S&P 500 EQUAL 90013

EIS MSCSUS33 03/21/2019 USD 3M LIBOR/STANDARD & PO 90028

EX RET SWP 05-15-2019 103195

EX RET SWP 05-15-2019 103196

OTC DERIVATIVE CASH COLL PAY TO CITIBANK

OTC DERIVATIVE CASH COLLATERAL PAYABLE TO MORGAN STANLEY

Pending trade purchases: United States dollar

INVESTMENT MANAGEMENT EXPENSE ACCRUALSEDOL: 3879785

TRUST/CUSTODY EXPENSE ACCRUALCUSIP: 999899511

SCHEDULE SB ATTACHMENTS

Plan Name: Union Carbide Employees' Pension Plan EIN / PN: 13-1421730/001 Plan Sponsor: Union Carbide Corporation c/o The Dow Chemical Company Valuation Date January 1, 2018

Schedule SB, Line 26 Schedule of Active Participant Data as of January 1, 20181

Years of Credited Service

Under 1 1 to 4 5 to 9 10 to 14 15 to 19 20 to 24 25 to 29 30 to 34 35 to 39 40 & Over

Attained Age

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

No.

Avg. Comp.

Under 25 46 77,340

25 - 29 179 83,858 26 97,898

30 - 34 136 85,889 68 101,056 25 107,529

35 - 39 86 85,113 55 96,091 54 101,392 10

40 - 44 62 86,508 43 94,861 59 107,132 51 106,317 27 131,535

45 - 49 39 89,829 29 103,070 33 98,468 70 101,981 50 107,605 22 125,099

50 - 54 22 86,327 43 86,506 21 99,243 58 104,597 64 103,327 74 121,013 18

1

55 - 59 23 83,059 31 91,512 22 89,144 41 102,119 52 102,567 101 104,720 56 110,959 59 111,184 3

60 - 64 9 8 12 23 92,004 16 29 101,395 44 89,000 85 105,676 49 101,097

65 - 69 1 2 3 5 6 5 4 9 9

70 & Over 1

1 Excludes transfers to Dow Employees’ Pension Plan who have a Prudential Annuity Benefit



Schedule SB, Line 26 Schedule of Active Participant Data for Account Balance Plans as of January 1, 20181

Years of Credited Service

Under 1 1 to 4 5 to 9 10 to 14 15 to 19 20 to 24 25 to 29 30 to 34 35 to 39 40 & Over

Attained Age

No.

Cash Bal.

No.

Cash Bal.

No.

Cash Bal.

No.

Cash Bal.

No.

Cash Bal.

No.

Cash Bal.

No.

Cash Bal.

No.

Cash Bal.

No.

Cash Bal.

No.

Cash Bal.

Under 25 46 8,507

25 – 29 179 13,067 26 29,857

30 – 34 136 14,576 68 33,557 25 57,618

35 - 39 86 14,969 55 31,607 54 66,177 10

40 - 44 62 14,671 43 32,240 59 85,735 51 126,989 27 182,608

45 - 49 39 14,190 29 36,155 33 108,916 70 158,450 50 191,829 22 270,445

50 - 54 22 13,861 43 34,190 21 134,119 58 226,696 64 260,411 74 313,934 18 1

55 - 59 23 10,860 31 32,662 22 180,335 41 280,030 52 308,506 101 362,881 56 409,584 59 468,461 3

60 - 64 9 8 12 23 301,524 16 29 398,881 44 381,518 85 494,142 49 462,397

65 - 69 1 2 3 5 6 5 4 9 9

70 & Over 1

1 Excludes transfers to Dow Employees’ Pension Plan who have a Prudential Annuity Benefit



Schedule SB, Part V Statement of Actuarial Assumptions/Methods

Economic Assumptions

Interest rate basis:

■ Applicable month September

■ Interest rate basis 3-Segment Rates

Interest rates: Reflecting Corridors

Not Reflecting Corridors

■ First segment rate 3.92% 1.75%

■ Second segment rate 5.52% 3.76%

■ Third segment rate 6.29% 4.66%

■ Effective interest rate 5.60% 3.92%

Compensation Increases 4.25% per annum for purposes of determining the target normal cost and the additional Funding Target for maximum deductible contribution purposes.

Future Increases in Social Security

3.50% for purposes of determining the target normal cost and the additional Funding Target for maximum deductible contribution purposes.

Future Increases in Maximum Benefits and Plan Compensation Limitations

For purposes of determining the target normal cost and the additional Funding Target for maximum deductible contribution purposes it is assumed that maximum benefit and plan compensation limitations under the Internal Revenue Code will not increase in the future.

For purposes of determining the additional funding target for future compensation or benefit increases to calculate the maximum deductible contribution, it is assumed that maximum benefit and plan compensation limitations under the Internal Revenue Code will increase in the future by 3.00% per year compounded annually.



Assumed Cost of Living Adjustments

None.

Interest Credit Rate The actual interest credit rate for 2018 was used. The long-term assumption is 4.50%.

Demographic and Other Assumptions

Inclusion Date The valuation date coincident with or next following the date on which the employee becomes a participant.

New or Rehired Employees It was assumed that there will be no new or rehired employees.

Form of Payment Single participants are assumed to elect a life only annuity and married participants are assumed to elect a 50% Joint & Survivor benefit.

For participants covered by the PPA formula, it is assumed that 10% of active participants will elect a life annuity and 90% of active participants will elect a lump sum upon retirement or withdrawal. It is assumed that 100% of active participants will be paid a lump sum at death or disability.

Percent Married 85% of the male and 50% of the female participants are assumed to be married.

Spouse Age The male spouse is assumed to be three years older than the female spouse.

Plan Compensation Present earnings for the current plan year were estimated by using the pay rate on the last day of the preceding plan year increased by half a year of salary scale plus the plan award for the previous plan year increased by a full year of salary scale.



Demographic Assumptions

Healthy Mortality Rates Separate rates for non-annuitants (based on RP-2014 “Employees” table without collar or amount adjustments, adjusted backward to 2006 with MP-2014, and then projected forward with a static projection as specified in the regulations under §1.430(h)(3)-1 using Scale MP-2016) and annuitants (based on RP-2014 “Healthy Annuitants” table without collar or amount adjustments, adjusted backward to 2006 with MP-2014, and then projected forward with a static projection as specified in the regulations under §1.430(h)(3)-1 using Scale MP-2016).

Disabled Life Mortality Alternative disabled life mortality tables as defined under Revenue Ruling 96-7.



Retirement Rates The rates at which participants are assumed to retire by age and eligibility are shown below:

Percentage Retiring During the Year

Age

Employees Age 50 and Over on

1/1/2001

Employees Under Age 50 on

1/1/2001 50 3.0% 6.0% 51 5.0 6.0 52 7.0 6.0 53 9.0 8.0 54 11.0 8.0 55 15.0 10.0 56 17.0 10.0 57 19.0 10.0 58 21.0 12.0 59 23.0 12.0 60 23.0 15.0 61 23.0 15.0 62 35.0 17.0 63 25.0 18.0 64 25.0 20.0

65 and over 100.0 100.0

Estimated termination dates provided by Dow were used for participants impacted by the 2015 and 2016 restructuring announcements. Participants retirement eligible at their estimated termination date are assumed to commence immediately.

Disability Rates Rates of disability were determined as 50% of the 1977 estimated rates from the Social Security Study #75.



Representative Termination Rates (not due to disability, retirement or mortality)

The rates at which participants are assumed to leave the company by age and service are shown below:

Percentage Terminating During the Year

Age Service Less Than 5 Years

Service Greater Than 5 Years

25 8.00% 6.50% 30 8.00 5.25 35 8.00 4.00 40 8.00 3.50 45 8.00 3.00

50 and Over Retirement Rates Retirement Rates

Estimated termination dates provided by Dow were used for participants impacted by the 2015 and 2016 restructuring announcements.

Additional Assumptions

Administrative Expenses Administrative expenses for the year are assumed to be equal to $19,890,000, the average of actual administrative expenses during the prior two calendar years adjusted for the actual current year PBGC premium amount.

Cash Flow ■ Timing of benefit payments – Annuity payments are payable monthly at the beginning of the month and lump sum payments are payable on date of decrement.

■ Amount and timing of contributions – Contributions are assumed to be made on the last day required to meet quarterly and minimum funding requirements unless otherwise directed by the plan sponsor.

Funding Policy The funding policy is to contribute to the Plan when pension laws and/or economics either require or encourage funding.



Methods

Valuation date First day of plan year

Funding target Present value of accrued benefits as required by regulations under IRC §430.

Target normal cost Present value of benefits expected to accrue during the plan year plus plan-related expenses expected to be paid from plan assets during the plan year as required by regulations under IRC §430.

Actuarial value of assets for determining minimum required contributions

Average of the fair market value of assets on the valuation date and 12 and 24 months preceding the valuation date, adjusted for contributions, benefits, administrative expenses and expected earnings 6.80% (with such expected earnings limited as described in IRS Notice 2009-22). The average asset value must be within 10% of market value, including discounted contributions receivable (discounted using the effective interest rate for the prior plan year.)

The method of computing the actuarial value of assets complies with rules governing the calculation of such values under the Pension Protection Act of 2006 (PPA). These rules produce smoothed values that reflect the underlying market value of plan assets but fluctuate less than the market value. As a result, the actuarial value of assets will be lower than the market value in some years and greater in other years. However, over the long term under PPA’s smoothing rules, the method has a significant bias to produce an actuarial value of assets that is below the market value of assets.



Tax policy The actuarial valuation performed for the plan year ending December 31, 2018 is used to determine the maximum deductible contribution for the tax year ending December 31, 2018.

PBGC Premium Funding Target For purposes of determining the PBGC Funding Target, the Standard Premium Funding Target was determined using the assumptions described above.

Benefits Not Included All benefits described in the Plan Provisions section of this report were valued. Willis Towers Watson has reviewed the plan provisions and, based on that review, is not aware of any significant benefits required to be valued that were not.

Data Sources

Participant data was extracted from the administrative system as of January 1, 2018. Data were reviewed for reasonableness and consistency, but no audit was performed. Based on discussions with the plan sponsor, assumptions or estimates were made when data were not available. We are not aware of any errors or omissions in the data that would have a significant effect on the results of our calculations.

Assumptions Rationale – Significant Economic Assumptions

Discount rate The basis chosen was selected by the plan sponsor from among choices prescribed by law, all of which are based on observed market data over certain periods of time.

Assumed return for asset smoothing

The assumed return of 6.80% used for asset smoothing for the 2017 plan year is the expected return on assets assumption chosen by the client with the help of their investment advisors for the 2018 plan year under U.S. GAAP.

Inflation Inflation is set based on the long-term average.

Compensation growth Assumed compensation increases are based on Dow’s long term compensation philosophy, which reflects both current conditions and future expectations.



Lump sum conversion rate As required by IRC 430, lump sum benefits are valued using “annuity substitution”, so that the PPA interest rates assumed are effectively the same as described above for the discount rate.

Interest Crediting Rate Based on general inflation plus assumed 1.50% spread based on long-term average.

Healthy Mortality Assumptions used for funding purposes are as prescribed by IRC §430(h).

Disabled Mortality Assumptions used for funding purposes are as prescribed by IRC §430(h).

Termination rates Termination rates were based on an experience study, with annual consideration of whether any conditions have changed that would be expected to produce different results in the future.

Retirement rates Retirement rates were based on an experience study, with annual consideration of whether any conditions have changed that would be expected to produce different results in the future.

Source of Prescribed Methods

Funding methods The methods used for funding purposes as described in Appendix A, including the method of determining plan assets, are “prescribed methods set by law”, as defined in the actuarial standards of practice (ASOPs). These methods are required by IRC §430, or were selected by the plan sponsor from a range of methods permitted by IRC §430.



Changes in Assumptions and Methods

Changes in Assumptions and Methods Since Last Actuarial Valuation

■ The segment interest rates used to calculate the funding target and target normal cost were updated from an applicable month of September 2016 to September 2017.

■ The mortality table used to calculate the funding target and target normal cost was updated to reflect the new tables, based on RP-2014 and subsequent Society of Actuaries studies, published by IRS in October 2017 in regulation §1.430(h)(3)-1.

■ The assumed plan-related expenses added to the target normal cost were changed from $19,860,000 in the prior year to $19,890,000 this year based on the assumption described in this appendix.


1 JAN 18 - 31 DEC 18



5% Report - Part A

Single Transaction in Excess of 5%

Page 104 of 321





1 JAN 18 - 31 DEC 18



5% Report - Part B

Series of Non-Security Transactions with Same Party in Excess of 5%

Page 105 of 321




Number of Transaction Aggregate Lease Expenses Current Value of AssetSecurity Description / Asset ID Transactions Acquisition Price Disposition Price Rental Incurred Cost of Asset on Transaction

1 JAN 18 - 31 DEC 18



5% Report - Part C Summary

Series of Transactions by Issue in Excess of 5%

Page 106 of 321



MFO DOW CHEMICAL GLOBAL EQUITY UNIT 9 CUSIP: Total acquisitions 4 53,017,549.31 0.00 53,017,549.31 53,017.549.31787992312


UNITED STATES TREAS NTS WI TREASURY NOTE 2% DUE Total acquisitions 4 127,864,414.45 0.00 127,864,414.45 127,864.414.4511-15-2026 REG SEDOL: BYYRSN3


UNITED STATES TREAS NTS 1.5% DUE 10-31-2 019 Total acquisitions 12 107,307,102.28 0.00 107,307,102.28 107,307.102.28SEDOL: BRYG9R2


UNITED STATES TREAS 2.25% DUE 02-15-2027 REG Total acquisitions 5 125,294,146.64 0.00 125,294,146.64 125,294.146.64SEDOL: BYPG9T2



1 JAN 18 - 31 DEC 18



5% Report - Part D

Series of Transactions with Same Party in Excess of 5%

Page 107 of 321






Schedule SB, Line 22 Description of Weighted Average Retirement Age

as of January 1, 2018

See the Schedule SB, Part V – Statement of Actuarial Assumptions and Methods attachment for retirement rates. The average retirement age for Line 22 was calculated by determining the average age at retirement for those current active participants expected to reach retirement, based on all current decrements assumed.



Summary of Plan Provisions

Plan Sponsor Union Carbide Corporation

Effective Date and Most Recent Amendment

The plan was restated effective January 1, 2017, and subsequently amended effective August 31, 2017.

Plan Year The 12-month period beginning each January 1.

Eligibility Employees who were participants in the Union Carbide Employees’ Pension Plan for U.S. Employees on January 6, 2011 are participants in the Union Carbide Employees’ Pension Plan on January 6, 2011. Effective January 6, 2011, employees are eligible to participate the later of February 1, 2011 or the first day of the month following the later of attainment of age twenty one and completion of an Applicable 12-Month Period during which the employee completes 1,000 Hours of Service. This Applicable 12-Month Period is defined as the 12-month period following the date of hire, or, if 1,000 Hours of Service are not completed in this period, the Plan Year.

Credited Service An employee receives Credited Service each Plan Year equal to such employee’s hours of service divided by 2,080 and rounded up to the nearest one tenth of a year. In no event will more than 1 year be credited during any Plan Year.

Eligibility Service Equal to Credited Service.

Vesting Service An employee receives a year of Vesting Service for each Plan Year in which the Employee is credited with at least 1,000 hours. Service with previous employers counts as Vesting Service in certain cases as specified under the plan.

Compensation Where applicable, compensation is defined as annualized pensionable earnings, which includes cash base pay and a plan award.

Final Average Compensation Highest average compensation of any three consecutive years preceding retirement or termination.



Eligibility for Benefits If a participant’s employment shall terminate:

1. On or after the participant’s 65th birthday, 2. After the participant has completed 3 years of Vesting

Service, or 3. On account of the participant’s death with 3 years of

Vesting Service,

the participant, or his/her beneficiary in the case of death, shall be entitled to receive a benefit.

Normal Form of Benefit Single life annuity unless married at retirement. If married, the 100% Joint and Survivor benefit is the normal form of payment unless the Participant elects another form of payment and the spouse consents in writing.

Optional Forms of Benefit Optional forms of payment are the 50% Joint and Survivor, Early Retirement Level Income, Guaranteed Payout and the Pension Purchase Option. A lump sum is available, though for UCEPP formula participants only if the Account Balance is less than or equal to $15,000. Other optional forms may also be available under prior grandfathered benefit formulas.

Benefit Amount Benefits for participants hired on or after January 1, 2008 are determined based on the Personal Pension Account (PPA) formula. Under this formula, a participant eligible to receive a benefit, or the surviving spouse will receive the participant’s PPA balance converted to an annuity based on the interest rate and mortality defined in Code §417(e)(3) for the plan year of the distribution. Participants are also eligible to elect a lump sum distribution.

Prior to January 1, 2006, the benefit payable upon termination/retirement will be based on the greater of the new plan formula (Union Carbide Employees’ Pension Plan or UCEPP) and the old plan formula (Union Carbide Retirement Program or UCRP) — with full service and pay roll-ups based on the UCEPP definitions of service and pay. Beginning January 1, 2006, the old plan formula (UCRP) continues to apply as a minimum benefit based on the service and highest consecutive 3-year average compensation (HC3A) as of December 31, 2005. In no event shall the benefit payable be less than the accrued UCRP benefit as of February 6, 2003 based on service and pay as defined under the Union Carbide Corporation Retirement Plan for U.S. Employees.



Benefit Amount (cont.) Under the UCEPP formula, a participant eligible for a retirement, disability or vested benefit, or the surviving spouse of a deceased participant who was eligible for a pre-retirement death benefit, will receive the participant’s UCEPP account balance converted to an annuity based on the 1983 Group Annuity Mortality Table (using 50% of the male mortality and 50% of the female mortality) and an 8% interest assumption.

UCEPP Account Balance The UCEPP account balance is determined by: (1) calculating the employee’s total standard and excess accruals; (2) multiplying the total standard accrual by the employee’s highest consecutive three year average compensation (HC3A) and the total excess accrual by the excess of the employee’s highest consecutive three year average compensation (HC3A) over the 36-month average of the Social Security Maximum Taxable Wage Bases at termination/retirement and (3) calculating the sum.

The standard and excess accruals are:

Age During Service

Standard Percentage

Earned

Excess Percentage

Earned < 30 4% 1%

30 - 34 5% 2% 35 - 39 7% 2% 40 - 44 10% 3% 45 - 49 13% 4% 50 - 54 16% 4% > 55 18% 4%

Maximum 425% 120%

Employees who have at least 10 years of eligibility service on February 6, 2001, were hired as an employee of UCC prior to age 30 and were actively employed on February 6, 2001 will receive transition accruals according to the schedule below. These transition accruals provide additional standard accruals for service earned at age 45 and later. These transition accruals are phased in depending on the employee’s age at February 6, 2001.



UCEPP Account Balance (cont.)

The schedule below provides the total percentage accrual earned for service at age 45 and after (inclusive of the standard accruals) for employees who were age 50 and above on February 6, 2001.

Accrual for Service at: Hire Age 45 - 49 50 & Later

< 23 23.0% 33.0% 23 20.5% 28.0% 24 19.0% 25.0% 25 18.0% 23.0% 26 17.0% 21.0% 27 16.0% 19.0% 28 14.5% 16.0% 29 13.5% 14.0%

The transition accruals were phased-in for employees below age 50 on February 6, 2001 according to the phase-in percentages outlined below:

Age at 2/6/2001 Phase-In Percentage < 36 5% 37 10% 38 15% 39 20% 40 25% 41 30% 42 35% 43 40% 44 45% 45 50% 46 56% 47 63% 48 70% 49 85%

> 50 100%

The UCEPP Account Balance is increased by an interest rate of 8% per annum for each year the benefit is deferred from the date of termination to the earlier of the date of benefit commencement or January 1, 2017, and is increased by 6% per annum thereafter to the date of benefit commencement. Partial years of deferment shall receive a pro-rata portion of such interest increase.



PPA Balance The PPA balance is the sum of the Pay Credits and Interest Credits that have been credited to the account. These items are defined as follows:

■ Pay Credits are 5% of compensation for the plan year. These amounts are credited to the account as of the last day of the plan year.

■ Interest Credits are the interest credit rate multiplied by the PPA balance as of the last day of the immediately preceding plan year. The interest credit rate is the closing rate for the six-month Treasury Bill on the last business day of September immediately preceding the plan year plus one hundred and fifty basis points. This rate is subject to a maximum rate equal to the third segment rate of the stabilized segment rate structure mandated for minimum funding requirements for the plan year. This amount is credited to the account as of the last day of the plan year before any Pay Credits are added to the account.

Retirement UCEPP and PPA Formula: A participant’s immediate retirement annuity is determined as described above under Benefit Amount.

UCRP Formula: In general, the normal pension for service earned as of December 31, 2005 is the greatest of 1, 2 or 3:

1. 1.2% of HC3A times years of credited service, plus $144.

2. $6.00 per month for each year of credited service for the first ten years, $9.00 per month for each year of credited service for the next ten years, and $12.00 per month for each year of credited service over 20 years, plus 10% of HC3A reduced by 1% for each year by which credited service is less than eight years, plus $144.

3. 1.5% of HC3A times years of credited service less the product of:

a. the estimated Social Security benefit based on the law in effect at actual retirement assumed to commence at the later of retirement or age 62, and

b. a factor determined to be the least of 1.5% times credited service, 50%, or the maximum offset based on IRS integration rules in effect at actual retirement.



Retirement (cont.) In no event shall the UCRP Formula benefit be less than the accrued benefit as of February 6, 2003 under the terms of the Union Carbide Corporation Retirement Plan for U.S. Employees.

A participant, who is over age 50 and has at least 10 years of eligibility service, is eligible for early retirement under the UCRP formula. The employee’s accrued normal pension before any offset amount is reduced by 5% for each year by which the first early retirement payment precedes the earliest of the following dates: (1) age plus service at least equal to 85, or (2) attainment of age 62 and completion of 10 years of service, or (3) attainment of age 60 and completion of 30 years of service.

Bridge Benefits: For certain employees terminated by the Company, a special early retirement benefit may apply to the UCRP formula benefit accrued as of February 6, 2003.

If the employee is eligible for early retirement, his benefit will be unreduced if he has 83 or 84 points, or if he is age 60 or age 61.

If the employee is not eligible for early retirement, then he will nonetheless be allowed to retire, with favorable reduction factors if he is 48 or older, with 8 or more years of service.

(The potential for the bridge benefits is not reflected in determining the Company’s annual pension expense.)

Permanent Disability On permanent and total disability after 10 years of service, the employee remains eligible for his normal pension deferred until the expiration of the LTD or similar programs, and in any event to age 50. Partial credit is given for service prior to age 65 during the deferral period. Post-2007 new hires are not eligible for this benefit.

Pre-retirement Death Benefit

The UCEPP account balance is payable to the surviving spouse in the form of a life annuity based on the spouse’s age at benefit commencement. If the beneficiary is someone other than the spouse, the UCEPP account balance will be paid as a lump sum.

The PPA balance is payable to the surviving spouse as either a lump sum or a life annuity. If the beneficiary is someone other than the spouse, the PPA balance will be paid as a lump sum.



Special Severance Protection Plan (SSPP)

Following the 2001 acquisition by The Dow Chemical Company of Union Carbide Corporation, enhanced benefits under the pension plan were offered to those employees who left the Company involuntarily. This pension enhancement is in effect for employees involuntarily terminated during the two years following the closing date of February 6, 2001. Under the SSPP, an employee is granted an additional three years of age and three years of service for the purpose of determining the pension benefit payable. Note that this provision is in lieu of the bridging benefits otherwise applicable for employees terminated by the Company (see Early Retirement Benefit for description of the bridging benefits). With the additional three years of age and three years of service, terminating employees are eligible for Early Retirement Benefits if they are at least age 47 and have 7 or more years of service.

Voluntary Severance Program

In 1985, certain employees were offered the Voluntary Severance Program which granted three additional years of service and age to those who accepted benefits under the program. These additional years of service were included for purposes of determining the amount of benefit and the early retirement reduction factors which would apply.



Divested Employees

Union Carbide has sold various facilities, businesses, divisions, etc. The pension aspects of these transactions vary but generally provide that the obligation for benefits accrued to the date of the transaction will be retained by the Union Carbide program. Accrued benefits to date of sale become payable upon termination or retirement from the buyer. Eligibility for a vested or early retirement benefit is based upon status at the date of sale (i.e., if under “50 +10” at date of sale, early retirement subsidy is forfeited; if over “50 + 10” at date of sale, one point per year, not two, accrues toward 85 points) except that service with the buyer is recognized for determining eligibility for vested benefits. A summary of the pension aspects of the transactions from 1985 is given in the following table:

Sold To Closing Date Additional Benefit Provided to Those With Blocking

Hoffman LaRoche 07/01/85 None - - L-TEC 07/16/85 CV2 1 yr of CS Yes Harsco 07/17/85 CV2 & Bridge 2 yrs of CS Yes Kalidria Asbestos 08/01/85 CV2 - No Jet Plastica 10/30/85 None - Yes Viskase 02/18/86 CV2 1 yr of CS Yes Stratcore 05/13/86 CV2 1 yr of CS Yes Amoco 06/20/86 CV2 1 yr of CS Yes Ralston 06/30/86 CV2 1 yr of CS Yes First Brands 07/11/86 CV2 1 yr of CS Yes Morgan Crucible 12/01/86 CV2 2 yrs of CS Yes Rhone Poulenc 12/19/86 CV2 1 yr of CS Yes Griffin Corporation 04/21/87 CV2 2 yrs of CS Yes Kemet Electronics1 04/27/87 CV2 2 yrs of CS Yes Getters Corporation 08/28/87 CV2 2 yrs of CS Yes Focus Home Care1 11/20/87 CV2 1 mo of CS Yes American Vicarb 06/30/88 CV2 2 yrs of CS Yes UOP 08/22/88 3 1 mo of CS Yes Genex 11/01/88 Participating in UCC

Plan - -

Polysilicones 07/31/90 None - Yes Urethane Polyols 09/11/90 None - No ADS 12/31/90 Service for ER - Yes UCAR 02/25/91 4 - - Linde Package Gas 01/01/92 None - Yes Praxair5 07/01/92 None - Yes OSI 07/01/93 None - Yes

1 Indicates a joint venture. UCC’s 50% interest in the Kemet and Focus Home Care joint ventures were sold during 1990. 2 CV indicates contingent vesting (i.e., service with the new employer is “credited” for vesting purposes only in the UCC Plan

benefit accrued to the date of the transaction). 3 Service with JV recognized for vesting and ER; pay increases up to 6.25% were also recognized. 4 Service to January 31, 1995 with JV recognized for vesting and ER; pay increases up to 6.00% to January 31, 1995. 5 Union Carbide spun off the Linde subsidiary (Praxair) to the public on July 1, 1992. As part of that transaction, assets and

liabilities for Praxair employees were transferred to a new pension plan to be sponsored by Praxair, Inc. While further “true-up” adjustments may be made, pension assets and liabilities of approximately $250 million were transferred from the Union Carbide Plan to the new Praxair Plan on July 1, 1992. The “true-up” is a transfer of $3,534,806 from Praxair to Union Carbide, paid in March 2000. UCC has no obligation for these employees after July 1, 1992.



2018 Statutory Limits

Maximum Benefit: The Internal Revenue Code §415 Maximum Benefit payable as a life annuity at Social Security Normal Retirement Age is $220,000 or 100 percent of the participant’s average compensation for his high 3 years.

Plan Compensation Limit: The §401(a)(17) Maximum Compensation which can be recognized for benefit calculation purposes is $275,000.

All benefits and pay for any calendar year may not exceed the maximum limitations for that year as defined in the Internal Revenue Code. The plan provides for increasing dollar limits automatically as such changes become effective. Increases in the dollar limits are assumed for determining pension cost.

Future Plan Changes Willis Towers Watson is not aware of any future plan changes which are required to be reflected.

Changes in Benefits Valued Since Prior Year

■ The plan was amended effective August 31, 2017 to change the definition of compensation to include elective deferrals under The Dow Chemical Company Elective Deferral Plan.

■ On December 22, 2017 accrued benefits and related assets were transferred to Prudential in relation to an annuity purchase for approximately 90 participants.


-11,070.240 -11,111.05 -11,070.24-148.670 -148.67 -148.67

1,081.230 1,081.23 1,081.23

1,998,821.130 1,998,821.13 1,998,821.13

222,313.000 222,313.00 200,211.00

0.000 -165,875.02 -165,875.02

0.000 4,087,911.67 4,087,911.67

173,895,778.440 173,895,778.44 173,895,778.44


31 DEC 18




Non-Interest Bearing Cash - USD

Receivables - Other - USD

Interest Bearing Cash - USD

United States - USD

Page 147 of 321



Total United States - USD 222,313.00 200,211.00

Total Non-Interest Bearing Cash - USD 2,210,955.64 2,188,894.45


Total Receivables - Other - USD 3,922,036.65 3,922,036.65


Total Interest Bearing Cash - USD 173,895,778.44 173,895,778.44


EUR - Euro

JPY - Japanese yen


CASH HELD AT L&B (DOW)CUSIP: 991DLV994

United States dollar

Pending trade sales: United States dollar



1,500,000.000 1,568,730.00 1,781,059.50

7,000,000.000 7,235,410.00 7,134,890.00

2,000,000.000 2,000,000.00 2,053,940.00

430,000.000 446,662.50 426,733.29

4,000,000.000 4,009,200.00 3,811,248.00

1,000,000.000 1,258,400.00 1,243,433.00

9,500,000.000 9,278,810.00 10,324,913.50

1,950,000.000 2,697,868.55 2,507,261.25

2,000,000.000 2,000,000.00 2,012,694.00

5,000,000.000 5,000,000.00 5,017,840.00

1,075,000.000 1,486,533.84 1,461,592.58

1,130,000.000 1,656,514.51 1,508,832.50

100,000.000 144,424.00 128,237.20

3,000,000.000 4,220,130.00 4,021,281.00

372,123.920 392,765.16 373,967.05

180,000.000 173,531.25 172,098.18

760,000.000 718,457.12 717,238.60

180,000.000 175,211.72 178,557.84


31 DEC 18





Page 148 of 321


FED HOME LN BKS 5.75% DUE 06-12-2026SEDOL: B1BXDX8

FED HOME LOAN BK 3.5% 09-24-2029SEDOL: BPZ5LP6

FEDERAL FARM CR BKS CONS SYSTEMWIDE 3.4208-06-2029SEDOL: BFXFBT2

FEDERAL HOME LN MTG CORP SR KIR3 CL A2 3.281% 08-25-2027SEDOL: BZ1H220

FFCB TRANCHE 00536 2.85 09-13-2032SEDOL: BFYBT73

FFCB 5.67% 10-28-2030SEDOL: BYWBJT0

FHLB BD 5.25 06-10-2022SEDOL: BYVD447

FHLB BD 5.5 07-15-2036CUSIP: 3133XGAY0

FHLB CONS BD DTD 11/13/2014 3.33 11-13-2029CUSIP: 3130A3HC1

FHLB FEDERAL HOME LOAN BANKS 4.05 11-06-2028CUSIP: 3130AFBB2

FHLMC DTD 10/25/2000 6.75 03-15-2031SEDOL: B4R3JV3

FHLMC MTN 6.25 07-15-2032SEDOL: B86ZQC8

FNMA BD 6.25 05-15-2029SEDOL: 2479471

FNMA DTD 11/03/2000 6.625 11-15-2030CUSIP: 31359MGK3

FNMA POOL #AM6558 3.7% 09-01-2034 BEOCUSIP: 3138L7JC1

FNMA POOL #AN5447 3.25% DUE 05-01-2032 BEOCUSIP: 3138LJBR0

FNMA POOL #AN6149 3.14% 07-01-2032 BEOCUSIP: 3138LJZP8

FNMA POOL #AN9067 3.51% 05-01-2033 BEOCUSIP: 3138LNCD1


355,000.000 291,488.28 312,484.85

830,000.000 1,064,314.18 1,153,315.71

825,000.000 776,531.25 783,362.25

1,120,000.000 789,796.40 789,647.04

250,000.000 175,199.08 174,737.50

1,455,000.000 1,385,854.80 1,413,829.17

50,000.000 48,803.88 48,075.20

1,500,000.000 1,526,894.53 1,468,594.50

6,000,000.000 6,230,000.00 5,838,750.00

39,050,000.000 36,244,261.04 35,216,695.80

460,000.000 449,283.60 467,005.02

10,950,000.000 10,724,899.13 10,779,333.30

3,000,000.000 2,995,312.50 2,945,391.00

1,230,000.000 1,224,843.86 1,261,854.54

2,760,000.000 1,400,755.20 1,236,813.96

2,100,000.000 779,970.90 1,007,540.10

2,930,000.000 1,365,878.10 1,371,119.87

790,000.000 331,262.80 332,329.30


31 DEC 18





Page 149 of 321


FNMA SERIES 2013-62 CL PY 2.5 DUE 06-25-2043CUSIP: 3136AELQ8

FNMA 7.25 05-15-2030CUSIP: 31359MFP3

I/O FNMA POOL #AN6573 3.2% 09-01-2032CUSIP: 3138LKJT5



TSY INFL IX N/B 1% TIPS 02-15-2048SEDOL: BFZBGW6

UNITED STATES OF AMER BDS INDX LNKD 0.875% 02-15-2047SEDOL: BF0SHC9

UNITED STATES OF AMER TREAS BD 2.375% 5-15-2027SEDOL: BF0T9Y8

UNITED STATES OF AMER TREAS BONDS DTD 05/15/2015 2.125%DUE 05-15-2025 REG SEDOL: BZ56W12

UNITED STATES OF AMER TREAS BONDS DTD 05/15/2016 2.5% DUE05-15-2046 REG SEDOL: BYZ2TS9

UNITED STATES OF AMER TREAS BONDS 0.75 DEB TIPS 02-15-2042SEDOL: B622LB3

UNITED STATES OF AMER TREAS NOTES DTD 10/15/2017 1.625%DUE 10-15-2020 REG SEDOL: BF7MHS0

UNITED STATES OF AMER TREAS NOTES 2.0% 11-30-2022SEDOL: BZ56VL5

UNITED STATES T NOTE 3.0% 10-31-2025SEDOL: BGN70G5

UNITED STATES TREAS BD STRIPPED PRIN PMT 05-15-2045SEDOL: BZ1NLZ4

UNITED STATES TREAS BD STRIPPED PRIN PMTZCP DUE 02-15-2043SEDOL: BMQX5D4

UNITED STATES TREAS BD STRIPPED PRIN PMTZCP 11-15-2043 REGSEDOL: BN801K9

UNITED STATES TREAS BD STRIPPED PRIN PMT00117 05-15-2047SEDOL: BF5BLR6


2,140,000.000 867,491.80 993,283.14

28,560,000.000 27,372,975.00 27,639,596.88

405,000.000 390,869.58 393,783.53

0.000 0.00 0.00

2,730,000.000 2,768,507.97 2,784,706.47

85,000.000 102,225.78 103,527.37

3,842,900.000 3,927,807.53 3,847,104.13

7,370,000.000 7,149,773.79 7,509,912.08

44,145,000.000 55,656,666.99 53,346,495.51

260,000.000 261,258.78 259,461.80

36,220,000.000 34,774,359.99 32,699,886.86

3,000,000.000 3,653,063.45 3,660,000.00

30,835,000.000 38,066,598.63 39,174,911.62

1,800,000.000 2,103,878.92 2,218,640.40

1,007,500.000 1,071,456.88 1,031,349.54

3,395,000.000 3,074,765.65 3,246,071.54

340,000.000 371,941.65 343,955.68

4,100,000.000 5,600,183.60 5,381,250.00


31 DEC 18





Page 150 of 321


UNITED STATES TREAS BD STRIPPED PRIN PMT02-15-2044 REGSEDOL: BZ0RQY1

UNITED STATES TREAS BDS 2.25% DUE08-15-2027 SEDOL: BF53YJ5

UNITED STATES TREAS BDS 2.875% DUE11-15-2046 SEDOL: BZ1BP67

UNITED STATES TREAS BDS .. 3.125% DUE 11-15-2041 REGSEDOL: B6ZKRY9

UNITED STATES TREAS BDS BD 3.125% DUE 02-15-2043 REGSEDOL: B89T3Q0

UNITED STATES TREAS BDS BD 5.25% DUE 11-15-2028 REGSEDOL: 2307271

UNITED STATES TREAS BDS BDS 3% DUE 05-15-2042 REGSEDOL: BYQLTY1

UNITED STATES TREAS BDS DTD 3.125% 05-15-2048SEDOL: BD59D47

UNITED STATES TREAS BDS DTD 00219 4.25% DUE 11-15-2040 REGSEDOL: BYQLV01

UNITED STATES TREAS BDS DTD 00246 3% DUE11-15-2045 REGSEDOL: BYQP1M5

UNITED STATES TREAS BDS DTD 00247 2.5% DUE 02-15-2046 REGSEDOL: BZ56WT0

UNITED STATES TREAS BDS DTD 02/15/1996 6% DUE 02-15-2026REG SEDOL: 2888163

UNITED STATES TREAS BDS DTD 02/15/2001 5.375 15 FEB 2031SEDOL: 2724610

UNITED STATES TREAS BDS DTD 02/15/2006 4.5% DUE 02-15-2036REG SEDOL: BSTJW18

UNITED STATES TREAS BDS DTD 02/15/2012 3.125% DUE02-15-2042 REG SEDOL: B7FRYY6

UNITED STATES TREAS BDS DTD 11/15/2012 2.75% DUE11-15-2042 REG SEDOL: BZ56WH8

UNITED STATES TREAS BDS TSY INFL IX N/B 02-15-2046SEDOL: BYXFH64

UNITED STATES TREAS BDS 00203 5% DUE 05-15-2037 REGSEDOL: BSTJVX3


21,407,500.000 20,311,468.54 21,306,306.75

7,002,400.000 6,764,466.65 6,964,923.16

2,860,000.000 2,907,094.40 2,919,545.20

1,890,000.000 1,964,916.13 2,012,997.42

2,895,000.000 3,275,120.17 3,206,889.93

3,155,000.000 3,485,941.81 3,492,313.67

31,020,000.000 34,613,090.08 35,034,422.28

8,615,000.000 8,835,737.28 8,590,774.62

3,880,000.000 4,045,959.62 3,863,327.64

7,380,000.000 7,684,004.54 7,368,760.26

1,553,000.000 1,652,194.93 1,550,027.56

41,320,000.000 42,449,540.18 39,969,042.60

8,310,000.000 8,324,247.66 8,438,547.39

1,000,000.000 996,406.25 985,938.00

10,915,000.000 10,790,074.41 10,842,513.49

3,800,000.000 3,846,531.25 3,725,930.40

5,820,000.000 5,714,088.92 5,730,424.38

2,000,000.000 2,001,562.50 1,937,968.00


31 DEC 18





Page 151 of 321


UNITED STATES TREAS BDS 3.0% DUE 08-15-2048SEDOL: BFZLQN7

UNITED STATES TREAS BDS 3.0% DUE 02-15-2048SEDOL: BG0D0F5

UNITED STATES TREAS BDS 3.125 DUE 08-15-2044SEDOL: BPYD753

UNITED STATES TREAS BDS 3.375 05-15-2044REGSEDOL: BYQLTW9

UNITED STATES TREAS BDS 3.625 DUE 02-15-2044TBOND SEDOL: BJT0ZC0

UNITED STATES TREAS BDS 3.625 DUE 08-15-2043SEDOL: BCZQWC2

UNITED STATES TREAS BDS 3.75 DUE 11-15-2043 REGSEDOL: BGK9QZ5

UNITED STATES TREAS BDS 3% DUE 02-15-2047 REGSEDOL: BDRJ2Q0

UNITED STATES TREAS BDS 3% DUE 05-15-2047 REGSEDOL: BF0T9Z9

UNITED STATES TREAS BDS 3% DUE 11-15-2044 REGSEDOL: BSJWZQ3

UNITED STATES TREAS BDS 3% DUE 05-1 5-2045SEDOL: BXC4FZ0

UNITED STATES TREAS DTD 02/15/2015 2% DUE 02-15-2025REG SEDOL: BVVT3Q9

UNITED STATES TREAS NTS 2.875% 08-15-2028SEDOL: BFZLQP9

UNITED STATES TREAS NTS 2.0% DUE 02-15-2022 REGSEDOL: BZ56V60

UNITED STATES TREAS NTS DTD 00476 2.125%DUE 08-31-2020 REGSEDOL: BD5JSB9

UNITED STATES TREAS NTS DTD 02/15/2013 2% DUE 02-15-2023REG SEDOL: B9CDBG2

UNITED STATES TREAS NTS DTD 04/30/2015 1.375% DUE04-30-2020 REG SEDOL: BZ56TH7

UNITED STATES TREAS NTS DTD 05/15/2013 1.75% DUE05-15-2023 REG SEDOL: B8W8CY5


4,000,000.000 4,221,093.75 3,992,656.00

3,000,000.000 2,986,640.63 2,950,548.00

6,000,000.000 5,923,359.38 5,784,378.00

500,000.000 498,925.78 512,832.00

3,000,000.000 3,026,562.50 2,948,319.00

3,000,000.000 3,187,265.62 3,032,109.00

26,575,000.000 25,878,315.68 26,073,609.48

3,000,000.000 2,990,664.07 2,808,282.00

8,170,000.000 7,979,792.19 8,009,475.84

400,000.000 417,801.45 414,333.48

18,465,000.000 18,182,254.69 18,219,046.20

82,500,000.000 81,048,012.81 81,475,185.00

16,195,000.000 16,131,281.29 16,304,445.81

64,865,000.000 64,925,810.94 65,549,131.16

1,370,000.000 941,464.00 970,546.36

920,000.000 546,820.40 558,438.16

2,500,000.000 2,361,523.44 2,420,215.00

15,420,000.000 15,148,799.90 15,279,647.16


31 DEC 18





Page 152 of 321


UNITED STATES TREAS NTS DTD 05/15/2014 2.5% DUE 05-15-2024REG SEDOL: BM7S9P8

UNITED STATES TREAS NTS DTD 07/31/2015 2% DUE 07-31-2022REG SEDOL: BZ56VH1

UNITED STATES TREAS NTS DTD 08/15/2015 2% DUE 08-15-2025REG SEDOL: BYS2RD7

UNITED STATES TREAS NTS DTD 09/30/2018 3.0% 09-30-2025SEDOL: BFM0VV0

UNITED STATES TREAS NTS DTD 11/15/2014 2.25% DUE11-15-2024 REG SEDOL: BSJWZX0

UNITED STATES TREAS NTS DTD 2.75% DUE 02-15-2024 REGSEDOL: BJT0TY0

UNITED STATES TREAS NTS DTD 658 1.375% DUE 08-31-2020 REGSEDOL: BZ56WM3

UNITED STATES TREAS NTS DTD 683 1.625% DUE 02-15-2026 REGSEDOL: BD2C0G0

UNITED STATES TREAS NTS FIXED 1.375% DUE 09-30-2020SEDOL: BZ56TR7

UNITED STATES TREAS NTS INFL IDX DTD 0.625% 01-15-2026SEDOL: BDHLRC7

UNITED STATES TREAS NTS UNITED STATES TREAS NTS 1.5% DUE04-15-2020 REG SEDOL: BYP3335

UNITED STATES TREAS NTS 2.0% DUE 08-31-2021SEDOL: BQ717J5

UNITED STATES TREAS NTS 2.75% DUE 08-15-2021 REGSEDOL: BFZLQQ0

UNITED STATES TREAS NTS 2.875% DUE 10-15-2021SEDOL: BFY6Z58

UNITED STATES TREAS SEC STRIPPED INT PMT00528 02-15-2031(UNDDATE) REG SEDOL: B0638P3

UNITED STATES TREAS SEC STRIPPED INT PMT00842 02-15-2036(UNDDATE) REG SEDOL: B156388

UNITED STATES TREAS 1.625% DUE 11-15-2022SEDOL: B8P4ZL8

US TREAS NTS DTD 00363 2.125 DUE 08-15-2021 REGSEDOL: BYQLWD1


17,345,000.000 17,274,160.36 17,331,453.56

3,535,000.000 3,469,775.96 3,479,627.76

19,205,000.000 18,322,501.29 18,537,318.97

3,320,000.000 3,553,054.70 3,550,325.00

330,000.000 322,962.45 315,033.84

150,000.000 150,532.92 163,873.50

20,000.000 23,835.80 23,227.82

60,000.000 53,910.60 57,834.30

100,000.000 116,305.00 110,214.80

280,000.000 359,858.80 351,818.04

1,000,000.000 999,480.00 988,112.00


31 DEC 18




U.S. Government Securities


United States - USD

Australia - USD

Canada - USD

France - USD

Page 153 of 321



Total U.S. Government Securities 768,160,150.32 764,253,208.84


Total Canada - USD 359,858.80 351,818.04

US TREASURY N/B TNOTE 2.5% 06-30-2020SEDOL: BD9MJ99

US TREASURY N/B US GOVT NATIONAL 1.5% DUE 07-15-2020 REGSEDOL: BDCSGC6

UTD STATES TREAS 1.125% DUE 08-31-2021SEDOL: BD2BRV1

WI TREASURY SEC 3.375% DUE 11-15-2048 REGSEDOL: BGRW851

BHP BILLITON FIN USA LTD 4.125 DUE 02-24-2042 REGSEDOL: B5NNJ47

BHP BILLITON FIN 5% DUE 09-30-2043SEDOL: BFD3PF0

BHP FIN USA LTD 6.42% DUE 03-01-2026SEDOL: 2093581

RIO TINTO FIN USA 4.125 DUE 08-21-2042SEDOL: B8NWTL2

RIO TINTO FIN USA 5.2 DUE 11-02-2040SEDOL: B5TZB18

CDN NATL RY CO 6.375% DUE 11-15-2037SEDOL: B27ZWG1

TOTAL CAP INTL 2.875% DUE 02-17-2022SEDOL: B9L3JK3


255,000.000 266,635.35 265,055.67

85,000.000 93,777.10 107,386.37

100,000.000 99,860.00 95,431.80

140,000.000 137,299.40 149,555.98

1,355,000.000 1,662,727.52 1,703,164.54

3,955,000.000 3,971,510.12 4,055,441.18

210,000.000 209,168.70 208,294.17

45,000.000 44,600.85 39,945.02

60,000.000 56,701.20 61,197.12


31 DEC 18




Corporate Debt Instruments - PreferredFrance - USD

Netherlands - USD

Norway - USD

Switzerland - USD


United States - USD

Page 154 of 321


Total France - USD 999,480.00 988,112.00

Total Netherlands - USD 360,412.45 372,442.04

Total Norway - USD 99,860.00 95,431.80



SHELL INTERNATIONAL FIN 4.55 DUE 08-12-2043 REGSEDOL: BCZQWS8

SHELL INTL FIN B V 6.375% DUE 12-15-2038SEDOL: B90FLN7

STATOIL ASA 3.95 DUE 05-15-2043SEDOL: BLSP5D1

NOVARTIS CAP CORP 4.4% DUE 05-06-2044SEDOL: BK1PN26

GLAXOSMITHKLINE 6.375% DUE 05-15-2038SEDOL: B88GFC2

SHELL INTERNATIONAL FIN 4.375% DUE 05-11-2045SEDOL: BXQ9DY6

ACE INA HLDGS INC 4.15% DUE 03-13-2043SEDOL: B8PNBH3

APPLE INC 3.45% SNR 09/02/2045 USDSEDOL: BVVCSF2

BERKSHIRE HATHAWAY 4.4% DUE 05-15-2042SEDOL: B630666


935,000.000 923,798.70 1,117,619.53

70,000.000 68,754.50 87,072.37

85,000.000 112,105.65 113,116.05

90,000.000 86,701.50 78,249.42

1,500,000.000 1,496,565.00 1,501,779.00

60,000.000 60,363.60 59,927.34

3,705,000.000 3,697,293.60 3,994,582.80

300,000.000 287,158.14 338,599.80

70,000.000 66,337.60 65,123.17

575,000.000 595,108.35 636,736.60

30,000.000 34,925.40 36,100.08

70,000.000 69,694.80 68,011.58

80,000.000 100,195.20 101,982.64

3,430,000.000 4,053,711.20 4,467,437.80

110,000.000 139,690.10 136,015.88

1,500,000.000 1,918,140.00 1,856,383.50

1,745,000.000 2,056,223.09 2,060,553.59

120,000.000 107,948.40 116,442.36


31 DEC 18





Page 155 of 321


BERKSHIRE HATHAWAY 5.75% DUE 01-15-2040SEDOL: B5M4JQ3

BOEING CO SR NT 5.875 DUE 02-15-2040SEDOL: BG48P39

BOEING CO 6.625 DEB DUE 02-15-2038SEDOL: 2283478

BRISTOL MYERS 3.25% DUE 08-01-2042SEDOL: B8L71C4

BURL NORTHN SANTA 3.4% DUE 09-01-2024SEDOL: BQ26P57

BURLINGTON NORTHN SANTA FE LLC 3.05 DUE 03-15-2022SEDOL: B78B263

BURLINGTON NORTHN SANTA FE LLC 4.9 DUE 04-01-2044 REGSEDOL: BKH0LR6

CAROLINA PWR & LT 5.7% DUE 04-01-2035SEDOL: B06T0B1

CATERPILLAR INC 3.803% DUE 08-15-2042SEDOL: B95BMR1

CATERPILLAR INC 5.2% DUE 05-27-2041SEDOL: B3T0KH8

CATERPILLAR INC 6.05 DUE 08-15-2036 BEOSEDOL: B1B8032

CENTERPOINT ENERGY 3.95% 03-01-2048SEDOL: BFYS3F0

CHUBB CORP 6.5% DUE 05-15-2038SEDOL: B87C800

CONOCO FDG CO 7.25% DUE 10-15-2031SEDOL: BG48S85

CONOCO INC 6.95% DUE 04-15-2029SEDOL: B2PJ1B3

CONOCOPHILLIPS GTD NT 6.5 DUE 02-15-2039REGSEDOL: B4T4431

CONOCOPHILLIPS 5.9% DUE 05-15-2038SEDOL: BG48SD0

CONSUMERS ENERGY CO 3.95 DUE 05-15-2043 BEOSEDOL: B98D0N6


95,000.000 111,328.60 124,350.54

70,000.000 68,903.10 67,859.96

190,000.000 180,848.99 221,449.18

500,000.000 499,145.00 495,252.00

115,000.000 126,272.30 116,331.93

50,000.000 49,973.00 46,511.25

40,000.000 36,934.40 38,429.92

390,000.000 392,511.60 443,634.36

50,000.000 62,661.50 61,723.45

1,795,000.000 1,792,487.00 1,789,291.90

2,095,000.000 2,087,729.83 2,080,835.71

240,000.000 309,456.00 294,986.40

770,000.000 835,912.00 962,891.16

1,135,000.000 1,079,245.63 1,448,821.83

1,000,000.000 997,500.00 979,523.00

90,000.000 111,775.50 106,437.96

1,000,000.000 998,350.00 1,022,077.00

370,000.000 369,962.60 363,682.99


31 DEC 18





Page 156 of 321


DEERE & CO DEERE & CO DEB 7.1250000 7.125 DUE03-03-2031 BEO SEDOL: BG48T59

DEERE & CO 3.9% DUE 06-09-2042SEDOL: BBVHMY4

DETROIT EDISON CO 5.7% DUE 10-01-2037SEDOL: B0LND19

DISNEY WALT CO NEW 4.125 DUE 06-01-2044SEDOL: BN459D7

DISNEY WALT CO NEW 4.375% DUE 08-16-2041SEDOL: B4PCG66

DTE ELEC CO 3.75% DUE 08-15-2047SEDOL: BF08MX5

DUKE ENERGY 4 DUE 09-30-2042SEDOL: B8GF9H4

DUKE ENERGY 5.3% DUE 02-15-2040SEDOL: B432721

EMERSON ELEC CO 6% DUE 08-15-2032SEDOL: 2978451

FL PWR & LT CO 4.05% DUE 06-01-2042SEDOL: B8C07L3

FL PWR & LT CO 4.05% DUE 10-01-2044SEDOL: BQQCCK5

FL PWR & LT CO 5.95% DUE 02-01-2038SEDOL: B2Q0F35

FLORIDA PWR CORP 6.35% DUE 09-15-2037SEDOL: B27YLH2

FLORIDA PWR CORP 6.4% DUE 06-15-2038SEDOL: B39XY20

FRANKLIN RES INC 2.8% DUE 09-15-2022SEDOL: B8KQHG8

GE GLOBAL INS HLDG 7% DUE 02-15-2026SEDOL: 2435644

GEN DYNAMICS CORP 3.875% DUE 07-15-2021SEDOL: BG48VV9

HOME DEPOT INC 4.2% DUE 04-01-2043SEDOL: B9N1J94


280,000.000 279,297.20 279,048.28

1,000,000.000 984,470.00 1,007,174.00

1,130,000.000 1,113,117.80 1,206,072.73

315,000.000 392,208.92 386,539.65

4,165,000.000 4,336,252.37 4,450,623.21

180,000.000 180,173.45 224,632.26

1,601,000.000 1,599,593.68 1,639,167.84

95,000.000 94,371.10 98,571.15

45,000.000 49,763.55 47,179.89

290,000.000 333,122.80 337,691.66

500,000.000 497,125.00 480,213.50

190,000.000 189,732.10 183,933.49

60,000.000 59,825.40 55,425.48

130,000.000 129,749.10 121,271.02

100,000.000 99,223.00 99,283.10

40,000.000 39,564.80 41,173.92

2,500,000.000 2,484,453.86 2,365,520.00

5,210,000.000 5,223,351.72 5,229,756.32


31 DEC 18





Page 157 of 321


HOME DEPOT INC 4.25% DUE 04-01-2046SEDOL: BYQF318

HOME DEPOT INC 4.4 DUE 03-15-2045 REGSEDOL: BR30BC4

HOME DEPOT INC 4.875 DUE 02-15-2044SEDOL: BDD8L53

HOME DEPOT INC 5.95% DUE 04-01-2041SEDOL: BFN0JP9

JOHNSON & JOHNSON 4.375 DUE 12-05-2033SEDOL: BQY7CZ7

JOHNSON & JOHNSON 5.95% DUE 08-15-2037SEDOL: BG48XN5

MEDTRONIC INC 4.375% DUE 03-15-2035SEDOL: BYMLDT8

MEDTRONIC INC 4.625 DUE 03-15-2044SEDOL: BK0NS71

MEDTRONIC INC 4.625% DUE 03-15-2045SEDOL: BYMLDL0

MEDTRONIC INC 5.55% DUE 03-15-2040SEDOL: B3RSVW6

MERCK & CO INC NEW 3.7% DUE 02-10-2045SEDOL: BVG7BV9

MIDAMERICAN ENERGY CO 3.95% 08-01-2047SEDOL: BDFFSG2

NIKE INC 3.625% DUE 05-01-2043SEDOL: B75MXV1

OCCIDENTAL PETE 4.1% DUE 02-15-2047SEDOL: BZ1C623

OCCIDENTAL PETE 4.625% DUE 06-15-2045SEDOL: BYQ27T5

ONE GAS INC 4.5% DUE 11-01-2048SEDOL: BGL8899

ORACLE CORP 4.125% DUE 05-15-2045SEDOL: BWTM334

ORACLE CORP 4.3% DUE 07-08-2034SEDOL: BP4W534


235,000.000 237,300.25 259,665.60

470,000.000 505,783.40 564,150.87

125,000.000 124,785.00 155,631.13

1,320,000.000 1,224,760.32 1,575,785.64

60,000.000 59,783.40 70,317.42

190,000.000 256,528.50 236,972.75

70,000.000 84,931.00 96,342.19

1,815,000.000 1,813,057.95 1,795,394.37

20,000.000 19,917.60 19,147.34

185,000.000 181,022.70 164,191.39

115,000.000 122,822.89 116,160.12

110,000.000 131,563.30 114,877.29

50,000.000 49,971.00 69,045.25

165,000.000 176,050.80 163,590.24

90,000.000 87,477.30 79,422.21

3,390,000.000 3,320,606.70 3,082,947.36

300,000.000 296,836.45 347,607.00

825,000.000 792,288.75 741,895.28


31 DEC 18





Page 158 of 321


ORACLE CORP 5.375 DUE 07-15-2040SEDOL: B7FNML7

ORACLE CORP 6.125% DUE 07-08-2039SEDOL: B3LR141

ORACLE CORP 6.5% DUE 04-15-2038SEDOL: B2QR213

PACIFICORP 5.75% DUE 04-01-2037SEDOL: B1V72T9

PACIFICORP 5.9% DUE 08-15-2034SEDOL: B02LFY9

PACIFICORP 6.25% DUE 10-15-2037SEDOL: B2853J0

PACIFICORP 7.7% DUE 11-15-2031SEDOL: 2823926

PARKER-HANNIFIN FIXED 4.2% DUE 11-21-2034SEDOL: BSPPVL3

PARKER-HANNIFIN 4.1% DUE 03-01-2047SEDOL: BF1GF73

PEPSICO INC 3.45% DUE 10-06-2046SEDOL: BD3VCR1

PEPSICO INC 4.25% DUE 10-22-2044SEDOL: BRWR319

PEPSICO INC 4.45% DUE 04-14-2046SEDOL: BZ30BC0

PFIZER INC NT 7.2 DUE 03-15-2039SEDOL: B8MJDB2

PHILIP MORRIS INTL INC 4.875 DUE 11-15-2043SEDOL: BGM0MQ9

PHILIP MORRIS INTL 4.125% DUE 03-04-2043SEDOL: B83KB65

PHILIP MORRIS INTL 4.375% DUE 11-15-2041SEDOL: B6VMZ67

PHILIP MORRIS INTL 6.375% DUE 05-16-2038SEDOL: BG49220

PRAXAIR INC 3.55% DUE 11-07-2042SEDOL: B7XR437


1,000,000.000 990,510.00 957,724.00

2,105,000.000 2,094,748.65 1,962,512.55

60,000.000 65,962.80 66,643.32

220,000.000 219,018.80 200,115.74

1,035,000.000 1,028,821.05 940,517.96

630,000.000 595,627.20 620,424.00

1,845,000.000 1,854,639.65 1,933,128.27

240,000.000 292,972.80 267,757.20

50,000.000 45,215.50 47,152.45

1,500,000.000 1,496,220.00 1,511,758.50

190,000.000 201,935.80 239,542.12

70,000.000 88,267.20 85,548.26

865,000.000 861,254.55 842,437.34

105,000.000 104,029.80 96,092.75

750,000.000 784,194.60 885,293.25

3,540,000.000 3,249,480.91 4,578,639.55

300,000.000 307,980.84 391,926.00

180,000.000 180,802.53 219,258.00


31 DEC 18





Page 159 of 321


PUB SVC ELEC GAS 4 DUE 06-01-2044SEDOL: BN70HV3

PUBLIC SVC ELEC GAS CO TRANCHE # TR 00025 3.6509-01-2042 SEDOL: B80G7N5

RAYTHEON CO 4.875% DUE 10-15-2040SEDOL: B4QLFC1

SAN DIEGO GAS & 3.75% DUE 06-01-2047SEDOL: BF4SP32

SOUTHN CAL EDISON 3.9 DUE 03-15-2043SEDOL: B91R9M7

SOUTHN CAL EDISON 4.5% DUE 09-01-2040SEDOL: B469DS7

SOUTHN CAL EDISON 5.35% DUE 07-15-2035SEDOL: B0BXDD1

SOUTHN CAL EDISON 6% DUE 01-15-2034SEDOL: 2317894

TARGET CORP 4% DUE 07-01-2042SEDOL: B9K8J87

TOYOTA MTR CR CORP 3.4 09-15-2021SEDOL: B8H7DG6

TRAVELERS PPTY CAS 6.375% DUE 03-15-2033SEDOL: 2600851

UNILEVER CAP CORP 5.9% DUE 11-15-2032SEDOL: B2PPTS4

UNION ELEC CO 4.0% DUE 04-01-2048SEDOL: BFY3BS4

UNITEDHEALTH GROUP 3.75% 10-15-2047SEDOL: BYZLN95


UNITEDHEALTH GROUP 6.625% DUE 11-15-2037SEDOL: B2PPW63


UTD PARCEL SVC INC 6.2% DUE 01-15-2038SEDOL: BG495L0


1,000,000.000 996,340.00 982,690.00

740,000.000 739,001.00 765,315.40

2,195,000.000 2,200,764.35 2,268,492.99

1,769,000.000 1,757,483.81 1,785,274.80

1,525,000.000 1,378,253.18 1,756,739.00

1,230,000.000 1,254,783.30 1,475,095.95

40,000.000 49,247.20 50,882.04

20,000.000 30,663.80 26,475.30

1,510,000.000 1,901,109.50 1,840,243.04

50,000.000 49,815.50 46,697.90

110,000.000 108,299.40 114,279.44

100,000.000 104,226.00 88,959.70

3,765,000.000 3,350,039.62 3,251,307.16


31 DEC 18






United States - USD

Australia - USD

Belgium - USD

Page 160 of 321



Total Corporate Debt Instruments - Preferred 86,895,089.67 90,899,510.93


VISA INC 3.15% DUE 12-14-2025SEDOL: BYPHGN8

VISA INC 4.15% DUE 12-14-2035SEDOL: BYPHG16

VISA INC 4.3% DUE 12-14-2045SEDOL: BYPHFN1

WAL-MART STORES 4.3 DUE 04-22-2044SEDOL: BLS12B6

WALMART INC 5.25% DUE 09-01-2035SEDOL: B89WZZ2

WYETH NT 5.95 DUE 04-01-2037/03-27-2007 BEOSEDOL: B91ZLT2

WYETH 6.5% DUE 02-01-2034SEDOL: BCDPC98

XTO ENERGY INC 6.75% DUE 08-01-2037SEDOL: B23C8G8

3M CO MEDIUM TERM 5.7% DUE 03-15-2037SEDOL: B1VSN66

PVTPL COMMONWEALTH BANK AUST 3.9% 07-12-2047SEDOL: BF550C6

RIO TINTO FIN USA PLC 4.75 DUE 03-22-2042 REGSEDOL: B757MN1

ANHEUSER BUSCH INBEV FIN INC 4.625 DUE 02-01-2044 REGSEDOL: BJMZ1V3

ANHEUSER BUSCH INC 4.439% DUE 10-06-2048SEDOL: BF7MH35


140,000.000 138,314.10 124,907.58

425,000.000 422,850.50 380,910.50

380,000.000 376,830.80 352,411.24

2,870,000.000 2,918,865.02 2,661,594.95

400,000.000 394,284.00 369,704.00

450,000.000 447,592.50 439,372.80

205,000.000 203,396.90 190,972.88

1,325,000.000 1,536,032.75 1,531,162.05

400,000.000 400,000.00 389,228.40

380,000.000 379,874.60 374,730.92

1,000,000.000 998,640.00 1,006,884.00

500,000.000 498,810.00 483,845.00

100,000.000 99,686.00 111,611.90

500,000.000 492,665.00 495,170.50

320,000.000 318,553.60 305,883.20


31 DEC 18




Corporate Debt Instruments - OtherBelgium - USD

Brazil - USD

Canada - USD

Page 161 of 321


Total Belgium - USD 7,311,126.04 6,860,091.13

Total Brazil - USD 394,284.00 369,704.00

ANHEUSER-BUSCH 4.375% DUE 04-15-2038SEDOL: BDZ7GD1

ANHEUSER-BUSCH 4.6% DUE 04-15-2048SEDOL: BDZ78X5

PVTPL ANHEUSER-BUSCH COS LLC / ANHEUSER-BUSCH 4.7%02-01-2036 SEDOL: BGT0Q04

PVTPL ANHEUSER-BUSCH COS LLC/ANHEUSER-BUSCH 4.9%02-01-2046 SEDOL: BGT0PJ6

PVTPL BRASKEM NETH FIN B V NT 4.5% DUE 01-10-2028 BEOCUSIP: 10554TAB1

BK NOVA SCOTIA GTD 1.875% DUE 04-26-2021SEDOL: BYZZX64

GREAT-WEST LIFECO 4.15% DUE 06-03-2047CUSIP: 391382AB4

NOVA GAS TRANSM 7.875% DUE 04-01-2023SEDOL: 2538361

PVTPL BANK NOVA SCOTIA GTD 1.875% 09-20-2021CUSIP: 06416AAA0

ROYAL BK CDA 2.1% DUE 10-14-2020SEDOL: BZ02884

TORONTO DOMINION BK SR MEDIUM TERM BK NT3.5% DUE 07-19-2023CUSIP: 89114QC48

TORONTO DOMINION 1.8% DUE 07-13-2021SEDOL: BD3VN89

TRANSCANADA PIPELINES LTD 06/01/2010 6.106/01/2040SEDOL: B5SKD29

TRANSCANADA PIPELINES 4.25% DUE 05-15-2028SEDOL: BD366X0

TRANSCANADA 4.625% DUE 03-01-2034SEDOL: BLSP672


95,000.000 98,393.40 91,699.89

3,625,000.000 3,274,593.18 3,944,398.75

635,000.000 634,758.70 760,069.60

30,000.000 42,176.40 37,367.67

250,000.000 246,875.00 247,032.08

1,030,000.000 1,028,588.90 923,998.58

290,000.000 288,123.70 278,593.43

230,000.000 177,536.00 218,500.00

190,000.000 188,723.20 191,187.50

30,000.000 33,862.50 31,680.66

250,000.000 248,452.50 228,936.25


31 DEC 18




Corporate Debt Instruments - OtherCanada - USD

Cayman Islands - USD

China - USD

Colombia - USD

France - USD

Page 162 of 321


Total Canada - USD 9,425,173.03 10,162,397.56

Total Cayman Islands - USD 246,875.00 247,032.08

Total China - USD 1,316,712.60 1,202,592.01

Total Colombia - USD 366,259.20 409,687.50

TRANSCANADA 4.875% DUE 05-15-2048SEDOL: BD366Z2

TRANSCANADA 6.2% DUE 10-15-2037SEDOL: B287YY8

TRANSCANADA 7.25% DUE 08-15-2038SEDOL: B3CHMW5

TRANSCANADA 7.625% DUE 01-15-2039SEDOL: B3KV7R9

PVTPL LCM 27 LTD/LCM 27 LLC SER NT CLS A1 FLTG 144A DUE07-16-2031 CUSIP: 50200JAC5

ALIBABA GROUP HLDG LTD 4.0% 12-06-2037SEDOL: BF5BK80

PVTPL SINOPEC GRP OVERSEAS DEV (2017) 3.625% NTS04-12-2027 USD200000 '144A' CUSIP: 82938NAC8

ECOPETROL S A 4.125% DUE 01-16-2025SEDOL: BQS83J7

ECOPETROL S A 5.375% DUE 06-26-2026SEDOL: BYMXKQ0

ARCELORMITTAL STEP CPN 7.5% DUE 03-01-2041SEDOL: B9B9WZ7

PVTPL CREDIT AGRICOLE S A TIER 2 4.0% DUE 01-10-2033CUSIP: 225313AK1


1,425,000.000 1,382,991.00 1,262,715.30

130,000.000 129,311.00 126,727.77

895,000.000 892,010.22 804,374.09

80,000.000 117,421.07 109,323.20

250,000.000 249,112.50 246,582.50

235,000.000 259,900.60 320,400.18

465,000.000 502,851.00 481,217.34

1,435,000.000 1,423,505.65 1,402,769.90

200,000.000 199,006.00 150,593.80

112,000.000 112,000.00 111,968.75


31 DEC 18




Corporate Debt Instruments - OtherFrance - USD

Germany - USD

Hong Kong - USD

Italy - USD

Japan - USD

Page 163 of 321


Total France - USD 1,794,617.00 1,650,059.98

Total Germany - USD 1,258,543.79 1,160,279.79

Total Hong Kong - USD 259,900.60 320,400.18

Total Italy - USD 2,125,362.65 2,034,581.04

Total Japan - USD 112,000.00 111,968.75

PVTPL ELECTRICITE DE FRANCE NT 144A 5.0%DUE 09-21-2048CUSIP: 268317AT1

PVTPL WEA FIN LLC 4.625% 09-20-2048SEDOL: BFX7FK7

BAYER US FIN II 4.875% DUE 06-25-2048SEDOL: BD103H7

DAIMLERCHRYSLER N 8.5% DUE 01-18-2031SEDOL: B065ZJ2

PVTPL SIEMENS FINANCIERINGSMAATSCHAPPIJ N V 4.2%03-16-2047 CUSIP: 82620KAT0

PVTPL HUTCHISON WHAMPOA INTL 03/33 LTD GTD NT 144A 7.45%DUE 11-24-2033 BEO CUSIP: 44841SAC3

ENI S P A 5.7% DUE 10-01-2040CUSIP: 26874RAC2

PVTPL ENI S P A NT X 4.75% DUE 09-12-2028CUSIP: 26874RAE8

PVTPL INTESA SANPAOLO S P A RCPTS CL X 144A 4.375% DUE01-12-2048 BEO CUSIP: 46115HBE6

MITSUBISHI UFJ 4.286% DUE 07-26-2038SEDOL: BGB66Q6


330,000.000 324,215.10 314,160.00

460,000.000 458,420.00 444,861.40

360,000.000 375,279.93 423,834.84

340,000.000 338,317.00 294,950.00

500,000.000 557,437.50 515,560.00

2,130,000.000 2,232,224.10 2,459,591.94

390,000.000 386,997.00 400,783.50

180,000.000 181,837.80 173,819.34

495,000.000 492,505.20 532,725.93

180,000.000 206,610.77 198,140.40


31 DEC 18




Corporate Debt Instruments - OtherKazakhstan - USD

Kuwait - USD

Mexico - USD

Netherlands - USD

Norway - USD

Page 164 of 321


Total Kazakhstan - USD 324,215.10 314,160.00

Total Kuwait - USD 458,420.00 444,861.40

Total Mexico - USD 713,596.93 718,784.84

Total Netherlands - USD 3,358,496.40 3,549,754.78

Total Norway - USD 699,115.97 730,866.33

PVTPL KAZMUNAYGAS NATIONAL CO 5.75% DUE 04-19-2047 BEOCUSIP: 48667QAP0

EQUATE 4.25% DUE 11-03-2026CUSIP: 29441WAC9

AMER MOVIL SAB DE CV 6.125% 03-30-2040SEDOL: B8C3GC6

BBVA BANCOMER S A 5.125% DUE 01-18-2033CUSIP: 05533UAF5

COOPERATIEVE RABOBANK U A 5.25% DUE 08-04-2045 BEOCUSIP: 21684AAD8

SHELL INTL FIN B V GTD NT 5.5 DUE 03-25-2040SEDOL: B4XNLW2

SHELL INTL FIN B V 3.875% DUE 11-13-2028SEDOL: BFXPTR6

SHELL INTL FIN B V 4% DUE 05-10-2046SEDOL: BDB2XM8

STATOIL ASA 4.8 DUE 11-08-2043SEDOL: BLSP5J7

STATOIL ASA 5.1 DUE 08-17-2040SEDOL: B522X65


200,000.000 200,000.00 186,745.20

70,000.000 92,796.20 88,046.21

130,000.000 122,924.10 118,427.14

150,000.000 151,258.50 146,163.30

200,000.000 199,152.00 206,609.20

200,000.000 200,000.00 197,207.80

200,000.000 200,000.00 195,266.00

1,160,000.000 1,099,168.59 1,383,443.84

395,000.000 395,000.00 375,963.77

285,000.000 285,000.00 280,600.17

40,000.000 62,168.00 54,098.96

500,000.000 498,775.00 485,048.00

95,000.000 93,606.35 92,853.86


31 DEC 18




Corporate Debt Instruments - OtherSpain - USD

Switzerland - USD



Page 165 of 321


Total Spain - USD 200,000.00 186,745.20



BANCO SANTANDER SA FORMERLY BANCO SANTA 4.379% DUE04-12-2028 REG SEDOL: BYWFD56

CR SUISSE 1ST BSTN 7.125% DUE 07-15-2032SEDOL: 2970208

GLENCORE FDG LLC 4% DUE 03-27-2027SEDOL: BYQ47H9

PVTPL SWISS RE TREAS US CORP SR NT 144A 4.25% DUE12-06-2042 BEO SEDOL: B92NKN2

PVTPL UBS AG LONDON BRH 4.5% DUE 06-26-2048CUSIP: 902674XN5

PVTPL UBS GROUP FDG SWITZ AG SR 4.253% DUE03-23-2028 CUSIP: 90352JAC7

PVTPL ABU DHABI CRUDE OIL PIPELINE LLC SR SECD BD SER B144A 4.6% 11-02-2047 CUSIP: 00401MAB2

ASTRAZENECA PLC 6.45% DUE 09-15-2037SEDOL: B7FFL50

BP CAP MKTS P L C 3.279% 09-19-2027SEDOL: BZ9P8G2

BP CAP MKTS P L C 3.723% DUE 11-28-2028SEDOL: BZ6CXN8

BRITISH TELECOMMUNICATIONS P L C NT STEPUP 12-15-203012-12-2000 SEDOL: B23XQ67

DIAGEO CAP PLC 2.625% DUE 04-29-2023SEDOL: B8NXVL9

DIAGEO CAP PLC 3.875% DUE 04-29-2043SEDOL: B8NXVQ4


830,000.000 835,034.38 818,726.11

1,350,000.000 1,350,000.00 1,338,171.30

200,000.000 221,418.00 198,236.80

4,045,000.000 3,830,001.20 4,584,457.38

240,000.000 235,500.00 218,100.00

210,000.000 210,000.00 186,799.83

1,045,000.000 1,027,067.80 1,078,398.20

60,000.000 60,415.20 59,474.40

145,000.000 144,998.55 145,700.50

328,441.860 32.84 206.92

160,000.000 159,665.57 150,213.76

65,000.000 63,767.60 60,905.78

170,000.000 158,623.60 172,446.81

70,000.000 65,506.70 72,590.77

80,000.000 79,488.00 83,514.88

120,000.000 119,065.20 125,966.88

80,000.000 88,048.00 88,214.24


31 DEC 18




Corporate Debt Instruments - OtherUnited Kingdom - USD

United States - USD

Page 166 of 321



HSBC HLDGS PLC 4.3% DUE 03-08-2026SEDOL: BZ57YZ3

HSBC HLDGS PLC 4.583% 06-19-2029SEDOL: BD36V02

HSBC HLDGS PLC 5.25% DUE 03-14-2044SEDOL: BKS7XY7

HSBC HLDGS PLC 6.5% DUE 09-15-2037SEDOL: BFN0JF9

HSBC HLDGS PLC 6.5% DUE 12-29-2999CUSIP: 404280BP3

LLOYDS BKG GROUP FLTG RT 3.574% 11-07-2028SEDOL: BF92VV9

PVTPL BG ENERGY CAP PLC GTD NT 144A 5.125% DUE10-15-2041 BEO CUSIP: 05541VAF3

PVTPL GLENCORE FDG LLC GTD NT 4.625 DUE 04-29-2024 BEOSEDOL: BLTW6B6

PVTPL NIAGARA MOHAWK PWR CORP NEW SR NT 4.278% DUE10-01-2034 BEO SEDOL: BQH0Y46

PVTPL SIGMA FIN INC NT 0 DUE 12-31-2040IN DEFAULT CUSIP: 8265Q0XQ0

VODAFONE GROUP PLC 5.25% DUE 05-30-2048SEDOL: BFMLP22

VODAFONE GROUP PLC 5% DUE 05-30-2038SEDOL: BFMLP11

ABB FIN USA INC 4.375 DUE 05-08-2042SEDOL: BB0R331

ABBOTT LABS 4.75% 04-15-2043SEDOL: BD6NWW9

ABBOTT LABS 4.75% DUE 11-30-2036SEDOL: BYVQ5V0

ABBOTT LABS 4.9% DUE 11-30-2046SEDOL: BYQHX58

ABBOTT LABS 5.3 DUE 05-27-2040SEDOL: B91ZLX6


50,000.000 59,801.00 60,257.10

2,000,000.000 1,986,180.00 1,850,214.00

270,000.000 267,146.10 251,908.65

481,573.930 489,775.74 489,362.43

1,440,000.000 1,436,529.60 1,320,577.92

80,000.000 79,745.60 67,730.88

815,000.000 811,206.15 777,603.73

140,000.000 171,420.20 164,195.08

100,000.000 136,049.90 120,827.50

120,000.000 119,208.00 122,453.40

100,000.000 119,211.00 111,073.50

1,000,000.000 998,880.00 953,289.00

85,000.000 84,323.40 83,158.82

776,000.000 770,156.72 777,251.69

121,000.000 147,687.03 145,137.93

90,000.000 103,120.20 102,036.60

200,000.000 186,356.00 152,343.20

2,000,000.000 1,994,820.00 1,943,914.00


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ABBOTT LABS 6.15% DUE 11-30-2037SEDOL: B922PX4

ABBVIE INC FIXED 4.5% DUE 05-14-2035SEDOL: BXDZFY1

ABBVIE INC 4.875% DUE 11-14-2048SEDOL: BGQW2K5

AEP TEX CENT FLTG RT 5.3063% DUE 07-01-2020CUSIP: 00110AAE4

AEP TRANSM CO LLC 3.75% DUE 12-01-2047SEDOL: BG88DM0

AETNA INC NEW 3.875% DUE 08-15-2047SEDOL: BDF0M43

AETNA INC NEW 4.75% DUE 03-15-2044SEDOL: BK1KRP2

AETNA INC NEW 6.625 DUE 06-15-2036 BEOSEDOL: BG48N91

AETNA INC NEW 6.75% DUE 12-15-2037SEDOL: BBJNFJ0

AFLAC INC 4.75% DUE 01-15-2049SEDOL: BGYTGT5

AHS HOSP CORP 5.024% DUE 07-01-2045SEDOL: BFCBR60

ALABAMA PWR CO 2.8% DUE 04-01-2025SEDOL: BWVC655

ALABAMA PWR CO 4.15% DUE 08-15-2044SEDOL: BQ5C541

ALABAMA PWR CO 4.3% 07-15-2048SEDOL: BD2Z1R7

ALABAMA PWR CO 6% DUE 03-01-2039SEDOL: B4QV918

ALLSTATE CORP 5.55 DUE 05-09-2035 BEOSEDOL: B08B1V2

ALTRIA GROUP INC 3.875% DUE 09-16-2046SEDOL: BD91617

AMAZON COM INC FIXED 2.8% DUE 08-22-2024SEDOL: BF2G3S9


130,000.000 129,676.30 125,548.15

305,000.000 302,505.10 296,350.51

210,000.000 209,624.10 202,751.22

150,000.000 149,015.10 146,564.85

100,000.000 98,236.00 110,862.70

24.350 0.00 32.39

161,656.230 161,656.23 159,051.46

149,955.020 149,955.02 148,807.86

120,000.000 107,281.20 113,072.76

165,000.000 168,917.10 148,055.82

250,000.000 249,245.00 227,803.25

1,000,000.000 1,000,000.00 980,136.00

600,000.000 600,444.68 558,025.80

1,086,000.000 1,140,571.50 1,063,652.29

37,000.000 38,250.97 36,936.77

1,365,000.000 1,353,807.00 1,254,346.28

1,000,000.000 999,160.00 1,004,740.00

1,020,000.000 976,079.90 965,918.58


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AMAZON COM INC FIXED 3.875% DUE 08-22-2037SEDOL: BF199R0

AMAZON COM INC FIXED 4.25% DUE 08-22-2057SEDOL: BDGMR10

AMAZON COM INC 3.15% DUE 08-22-2027 BEOSEDOL: BDGMR43

AMAZON COM INC 4.05% 08-22-2047SEDOL: BFMLMY3

AMAZON COM INC 4.95% DUE 12-05-2044CUSIP: 023135AQ9

AMBAC ASSURN CORP 5.1% DUE 06-07-2020SEDOL: B8D0LR6

AMERICAN AIRLS 2017-1 CL AA PASS THRU TR3.65% DUE08-15-2030 SEDOL: BDDXT10

AMERN AIRLS 2013-1A PASS THRU CTF CL A 407-15-2025SEDOL: BPBGFV7

AMERN EXPRESS CO 4.05% DUE 12-03-2042SEDOL: B968SP1

AMERN FINL GROUP 4.5% DUE 06-15-2047SEDOL: BF3BYD5

AMERN HONDA FIN 2.3% DUE 09-09-2026SEDOL: BD8F5P7

ANTHEM INC 4.101% 03-01-2028SEDOL: BFXCMT0

ANTHEM INC 4.375% 12-01-2047SEDOL: BGB6FT2

APACHE CORP 3.25 DUE 04-15-2022 REGSEDOL: B73KYD6

APACHE CORP 3.625% DUE 02-01-2021SEDOL: B46MG43

APPLE INC FIXED 3.75% 11-13-2047CUSIP: 037833DG2

APPLE INC 3.45% DUE 05-06-2024SEDOL: BM6NV92

APPLE INC 3.85% DUE 05-04-2043CUSIP: 037833AL4


265,000.000 257,834.89 246,445.50

455,000.000 454,080.90 453,412.96

1,885,000.000 1,878,119.75 1,914,345.68

925,000.000 935,845.35 955,461.18

210,000.000 209,013.00 220,837.47

910,000.000 914,184.70 963,269.58

120,000.000 123,660.00 125,967.36

58,000.000 50,932.19 49,926.11

16,000.000 16,181.26 15,543.52

95,000.000 94,524.05 95,452.30

90,000.000 87,129.00 86,216.67

125,000.000 124,765.00 120,581.13

1,815,000.000 1,811,624.10 1,796,606.79

640,000.000 637,433.60 606,993.92

50,000.000 59,085.00 47,639.80

120,000.000 120,000.00 98,886.24

115,000.000 114,894.20 102,054.57

145,000.000 159,621.80 139,349.64


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APPLE INC 3.85% DUE 08-04-2046SEDOL: BDCWWV9

APPLE INC 4.25% DUE 02-09-2047SEDOL: BDVPX83

APPLE INC 4.375% DUE 05-13-2045SEDOL: BXC5WP2

APPLE INC 4.45% DUE 05-06-2044SEDOL: BM6NVC5

APPLE INC 4.5% DUE 02-23-2036SEDOL: BYXT6Z8

APPLE INC 4.65% DUE 02-23-2046CUSIP: 037833BX7

ARIZONA PUB SVC CO 4.7 DUE 01-15-2044SEDOL: BHZLVH0

AT&T INC 4.55% DUE 03-09-2049SEDOL: BD3HCX5

AT&T INC 5.35% DUE 09-01-2040SEDOL: B4WPQV3

ATMOS ENERGY CORP FIXED 4.3% DUE 10-01-2048SEDOL: BG5J542

ATMOS ENERGY CORP SR NT 4.15 DUE 01-15-2043SEDOL: B98ZZP9

ATMOS ENERGY CORP 4.125% DUE 10-15-2044SEDOL: BRJ8Y23

AVALONBAY CMNTYS INC MEDIUM TERM 4.35% 04-15-2048CUSIP: 05348EBE8

AVALONBAY 3.2% DUE 01-15-2028SEDOL: BD5W7Z5

BAKER HUGHES A GE CO LLC 5.125% DUE 09-15-2040SEDOL: B57Y827

BAKER HUGHES A GE CO LLC/BAKER HUGHES 4.08% 12-15-2047SEDOL: BG0PVG9

BALT GAS & ELEC CO 3.5% DUE 08-15-2046SEDOL: BD3BW60

BANK AMER CORP BNDS 4.443% 01-20-2048SEDOL: BYMX8C2


500,000.000 500,000.00 485,050.50

1,320,000.000 1,337,157.35 1,255,710.72

1,359,000.000 1,406,921.85 1,269,509.85

1,535,000.000 1,532,436.55 1,477,185.76

580,000.000 580,000.00 516,611.80

105,000.000 104,393.10 121,872.03

950,000.000 949,525.00 923,741.05

210,000.000 216,285.43 207,359.04

270,000.000 278,089.20 282,384.63

140,000.000 140,000.00 131,677.70

135,000.000 133,888.95 121,166.01

390,000.000 388,022.70 386,699.43

1,660,000.000 1,648,280.40 1,713,984.86

1,270,000.000 1,270,000.00 1,239,193.61

1,000,000.000 997,860.00 982,299.00

500,000.000 497,975.00 488,596.00

55,000.000 51,031.75 50,648.07

1,190,000.000 1,655,635.58 1,619,660.21


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BANK AMER CORP FIXED 3.824% 01-20-2028SEDOL: BYM4WN4

BANK AMER CORP FLTG RT 4.244% DUE 04-24-2038SEDOL: BYWC0C3

BANK AMER CORP 3.419% 12-20-2028SEDOL: BF50RK8

BANK AMER CORP 3.5% DUE 04-19-2026SEDOL: BYM7C88

BANK AMER CORP 3.946% DUE 01-23-2049SEDOL: BD49X71

BANK AMER CORP 5.875% DUE 02-07-2042SEDOL: B8WR844

BANK NEW YORK MELLON CORP MEDIUM TERM SR NT BOOK ENTRY 3.4%01-29-2028 SEDOL: BF5DPL4

BANK 2017-BNK6 3.518% DUE 07-15-2060SEDOL: BDZ7W66

BBCMS MTG TR 4.314% DUE 12-15-2051CUSIP: 05491UBD9

BECTON DICKINSON & 4.669% DUE 06-06-2047SEDOL: BF2KB43

BERKSHIRE HATHAWAY ENERGY CO 3.8% 07-15-2048SEDOL: BG0JBZ0

BERKSHIRE HATHAWAY FIN CORP 4.2% DUE 08-15-2048 REGSEDOL: BYW5431

BIOGEN INC 5.2% DUE 09-15-2045SEDOL: BYNPNY4

BK NEW YORK MELLON CORP 3.442% DUE02-07-2028/02-07-2027 REG SEDOL: BDCL4P4

BK NEW YORK MELLON 2.6% DUE 02-07-2022SEDOL: BDCL4Q5

BLACKROCK INC 3.2% DUE 03-15-2027SEDOL: BD9C3T7

BOEING CO FIXED 3.625% DUE 03-01-2048CUSIP: 097023BZ7

BOEING CO 6.875% DUE 03-15-2039SEDOL: BC7H609


500,000.000 494,990.00 485,504.00

80,000.000 78,497.60 84,113.36

1,430,000.000 1,494,085.90 1,386,417.89

405,000.000 412,913.70 404,113.86

250,000.000 247,142.50 241,944.25

310,000.000 310,149.30 327,860.96

1,000,000.000 997,690.00 972,868.00

2,065,000.000 2,037,806.06 2,042,295.33

1,000,000.000 1,000,000.00 939,057.00

340,000.000 337,501.00 329,444.36

1,000,000.000 999,810.00 999,284.00

140,000.000 123,951.80 126,638.26

1,000,000.000 997,590.00 973,272.00

500,000.000 495,165.00 476,574.00

60,000.000 59,355.00 63,484.02

55,000.000 54,597.40 50,030.15

150,000.000 196,845.00 181,656.60

110,000.000 109,820.70 91,847.14


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BP CAP MKTS AMER FIXED 2.75% DUE 05-10-2023SEDOL: BHS8N72

BROWN FORMAN CORP 4.5% DUE 07-15-2045SEDOL: BYX0316

BURL NORTHN SANTA 4.15% DUE 04-01-2045SEDOL: BD04808

BURL NORTHN SANTA 4.375% DUE 09-01-2042SEDOL: B8NWVK5

BURLINGTON NORTHERN SANTA FE LLC 4.125% DEB SNR 06-15-2047USD SEDOL: BYXD4B2

CA INST TECH 4.7% DUE 11-01-2111SEDOL: B795LF6

CAMERON INTL CORP CORP BD 3.7 DUE 06-15-2024SEDOL: BNGN531

CAP 1 MULTI-ASSET 2% DUE 01-17-2023CUSIP: 14041NFK2

CARDINAL HLTH INC 3.079% DUE 06-15-2024SEDOL: BZ4DM81

CAROLINA PWR & LT 4.1% DUE 03-15-2043SEDOL: B8L5GP6

CATERPILLAR FINL 2.95% DUE 05-15-2020SEDOL: BDT8TK8

CATHOLIC HEALTH INITIATI 4.35 DUE 11-01-2042SEDOL: B8BB1R1

CBOE GLOBAL MKTS 3.65% DUE 01-12-2027SEDOL: BYPJTR9

CBS CORP NEW 3.5% DUE 01-15-2025SEDOL: BYN3M07

CENTERPOINT ENERGY 4.5% DUE 04-01-2044SEDOL: BKRW213

CH & DWIGHT INC 3.95% DUE 08-01-2047SEDOL: BF0CDS9

CHUBB CORP 6% DUE 05-11-2037SEDOL: B1XD1V0

CIGNA CORP 3.875% 10-15-2047SEDOL: BF58H57


1,000,000.000 994,970.00 1,021,784.00

1,215,000.000 1,292,397.03 1,495,897.07

1,000,000.000 999,120.00 932,182.00

115,000.000 112,054.85 135,691.84

1,475,000.000 1,473,795.96 1,547,863.53

2,115,000.000 2,084,917.97 2,088,023.18

1,355,000.000 1,328,429.29 1,332,918.92

255,000.000 262,643.27 259,021.61

1,000,000.000 998,880.00 986,705.00

500,000.000 499,335.00 480,732.00

140,000.000 139,932.80 136,824.24

1,820,000.000 1,820,750.40 1,682,515.38

50,000.000 50,000.00 52,469.45

575,000.000 685,962.84 649,866.73

110,000.000 110,000.00 108,415.12

110,000.000 110,000.00 129,140.00

60,000.000 59,843.35 70,026.90

20,000.000 19,996.80 20,268.40


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CIGNA CORP 4.5 DUE 03-15-2021SEDOL: B44QJ82

CISCO SYS INC SR NT 5.9 DUE 02-15-2039 REGCUSIP: 17275RAD4

CISCO SYS INC 2.5% DUE 09-20-2026SEDOL: BD8GNP6

CISCO SYS INC 5.5% DUE 01-15-2040CUSIP: 17275RAF9

CITIBANK CR CARD ISSUANCE TR NT CL 2018-A7 3.96%10-13-2030 CUSIP: 17305EGS8

CITIBANK CR CARD ISSUANCE TR SR 2017-A3 CL-A3 0.0% DUE04-07-2022 SEDOL: BG0J6N3

CITIBANK CR CARD 1.86% DUE 08-08-2022CUSIP: 17305EGG4

CITIGROUP COML MTG 4.009% DUE 03-10-2051CUSIP: 17327FAD8

CITIGROUP INC 2.65% DUE 10-26-2020SEDOL: BZ0D939

CITIGROUP INC 3.7% DUE 01-12-2026SEDOL: BYQ02K5

CITIGROUP INC 4.65% DUE 07-23-2048SEDOL: BFMLH37

CITIGROUP INC 4.75% DUE 05-18-2046SEDOL: BDGLCL2

CITIGROUP INC 5.5% DUE 09-13-2025SEDOL: BDT7Y00

CITIGROUP INC 5.875 DUE 01-30-2042SEDOL: B8WTN90

CITY OF HOPE 4.378% DUE 08-15-2048CUSIP: 17858PAB7

CITY OF HOPE 5.623% DUE 11-15-2043SEDOL: BCGD4C6

CME GROUP INC 5.3 09-15-2043SEDOL: BDDY861



20,000.000 19,908.20 20,256.04

160,000.000 164,798.43 157,743.20

500,000.000 499,630.00 501,583.00

100,000.000 100,000.00 101,900.00

200,000.000 198,636.00 190,097.80

2,217,000.000 1,924,032.53 1,981,672.10

210,000.000 176,080.64 188,172.81

1,000,000.000 998,120.00 956,814.00

125,000.000 124,393.75 115,713.13

450,000.000 345,540.88 403,869.60

4,320,000.000 4,652,417.95 4,165,335.36

350,000.000 354,686.50 347,611.25

280,000.000 280,068.00 283,166.24

70,000.000 78,783.60 67,717.72

600,000.000 597,527.66 605,866.80

140,000.000 155,187.89 138,532.24

350,000.000 346,899.00 350,560.70

510,000.000 510,097.78 518,492.01


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CMO MORGAN STANLEY BAML TST SER 13-C7 CLA4 2.918% DUE02-15-2046 BEO SEDOL: B8HW899

CMS ENERGY CORP 3.875 DUE 03-01-2024SEDOL: BK1Q352

CN LT & PWR CO 4.3% DUE 04-15-2044SEDOL: BLRVSV9

COLGATE-PALMOLIVE CO 3.7% DUE 08-01-2047SEDOL: BF7TQ51

COMCAST CORP NEW FIXED 3.969% DUE 11-01-2047SEDOL: BFWQ3V2

COMCAST CORP NEW FIXED 3.999% DUE 11-01-2049SEDOL: BFW31L9

COMCAST CORP NEW 3.15% DUE 03-01-2026CUSIP: 20030NBS9

COMCAST CORP NEW 3.9% DUE 03-01-2038SEDOL: BFY1N04

COMCAST CORP NEW 4.049% DUE 11-01-2052SEDOL: BFWQ3S9

COMCAST CORP NEW 4.2% DUE 08-15-2034SEDOL: BPYD9Q8

COMCAST CORP NEW 4.25% DUE 01-15-2033SEDOL: B92PSY5

COMCAST CORP NEW 4.25% DUE 10-15-2030CUSIP: 20030NCU3

COMCAST CORP NEW 4.4% DUE 08-15-2035SEDOL: BY58YR1

COMCAST CORP NEW 4.6% 10-15-2038CUSIP: 20030NCL3

COMCAST CORP NEW 4.65% DUE 07-15-2042SEDOL: B7TGGL0

COMCAST CORP NEW 4.75% DUE 03-01-2044SEDOL: BJZXTF4

COMCAST CORP NEW 4.95% DUE 10-15-2058SEDOL: BGGFK99


500,000.000 653,200.00 548,141.00

250,000.000 229,725.00 299,252.00

1,315,000.000 1,607,732.15 1,633,646.86

1,120,000.000 1,112,296.06 1,132,186.72

195,000.000 200,833.22 187,980.59

3,020,000.000 3,012,450.00 2,768,536.68

240,000.000 239,954.40 231,516.24

195,000.000 193,734.45 176,526.48

180,000.000 180,000.00 165,675.42

40,000.000 38,722.40 50,351.52

100,000.000 99,699.30 95,682.90

3,725,000.000 3,699,074.00 3,489,732.73

20,000.000 19,825.80 18,609.10

155,000.000 154,246.70 181,024.66

310,000.000 410,089.70 372,414.78

114,000.000 151,817.22 145,453.97

105,000.000 103,919.55 103,538.09

50,000.000 49,568.50 49,759.55


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COMCAST CORP NEW 5.65% DUE 06-15-2035SEDOL: B0B7ZQ0

COMCAST CORP NEW 6.5% DUE 11-15-2035CUSIP: 20030NAK7

COMCAST CORP NEW 7.05% DUE 03-15-2033SEDOL: 2470065

COMCAST CORP 4.7% 10-15-2048SEDOL: BGV15K8

COMM 2016-667M MTG 3.14% DUE 10-10-2036CUSIP: 12636GAA9

COMMONWEALTH EDISON CO 3.75% 08-15-2047SEDOL: BDT5L92

COMMONWEALTH EDISON CO 4.0% DUE 03-01-2048 REGSEDOL: BFYRPY0

COMWLTH EDISON CO 3.65% DUE 06-15-2046SEDOL: BYQHP74

COMWLTH EDISON CO 3.7% DUE 03-01-2045SEDOL: BW01ZS9

COMWLTH EDISON CO 6.45% DUE 01-15-2038SEDOL: BG48VJ7

CONCHO RES INC 4.85% DUE 08-15-2048SEDOL: BFWS329

CONS EDISON CO N Y 3.95% DUE 03-01-2043SEDOL: B8MJ1K7

CONS EDISON CO N Y 4.3% DUE 12-01-2056SEDOL: BD3GJ31

CONS EDISON CO N Y 5.7% DUE 06-15-2040SEDOL: B5M23K9

CONS EDISON CO N Y 6.2% DUE 06-15-2036SEDOL: B1723Q2

CONS EDISON CO N Y 6.75% DUE 04-01-2038SEDOL: B2QQX95

CONSUMERS ENERGY 4.05% DUE 05-15-2048SEDOL: BD2NLC6

CONSUMERS ENERGY 4.35% DUE 08-31-2064SEDOL: BQ11N15


70,000.000 69,973.40 58,751.07

1,000,000.000 999,150.00 998,710.00

1,000,000.000 994,990.00 1,022,140.00

110,000.000 107,913.69 121,096.25

500,000.000 495,695.00 455,410.50

320,000.000 314,552.90 306,641.92

155,000.000 154,116.50 150,754.55

50,000.000 50,000.00 48,393.35

500,000.000 499,045.00 479,529.50

500,000.000 498,055.00 472,522.50

100,000.000 98,164.00 75,418.70

1,000,000.000 1,075,600.00 1,000,985.00

150,000.000 137,575.50 152,227.50

1,180,000.000 1,179,968.49 1,194,370.04

70,000.000 69,559.00 69,013.84

30,000.000 29,928.60 30,174.21

250,000.000 254,455.00 279,062.25

1,365,000.000 1,362,938.85 1,404,373.43


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CORNING INC 4.375% 11-15-2057SEDOL: BF8QCP3

CSX CORP 3.4% DUE 08-01-2024SEDOL: BR30B24

CSX CORP 4.25% DUE 06-01-2021SEDOL: B5TTGV5

CUMMINS INC 4.875% DUE 10-01-2043SEDOL: BF262M6

CVS HEALTH CORP 2.875% DUE 06-01-2026SEDOL: BD72463

CVS HEALTH CORP 4.78% DUE 03-25-2038SEDOL: BF4JK96

CVS HEALTH CORP 5.05% DUE 03-25-2048SEDOL: BF4JKH4

DARTMOUTH-HITCHCOC 4.178% 08-01-2048SEDOL: BG04CD0

DEERE JOHN CAP 2.65% DUE 06-24-2024SEDOL: BF47164

DEERE JOHN CAP 2.8% DUE 09-08-2027SEDOL: BF58H79

DEFAULTED PACIFIC GAS & ELEC CO 0.0% 12-31-2040SEDOL: BYWFCM6

DEVON ENERGY CORP 4% DUE 07-15-2021SEDOL: B4VBBG2

DIAGEO INVT CORP 4.25% DUE 05-11-2042SEDOL: BBM4R38

DISCOVER CARD 3.32% DUE 03-15-2024CUSIP: 254683CH6

DOMINION ENERGY GAS HLDGS LLC 4.6% DUE 12-15-2044SEDOL: BT9Z2H9

DOMINION GAS HLDGS 4.8% DUE 11-01-2043SEDOL: BPYPLR9

DOMINION RES INC 5.95% DUE 06-15-2035SEDOL: B0BSGX7

DTE ELEC CO 4.3% DUE 07-01-2044SEDOL: BNJ3505


360,000.000 400,850.92 448,831.08

95,000.000 94,861.30 86,286.60

50,000.000 49,930.50 49,784.10

10,000.000 9,954.70 10,823.85

100,000.000 99,493.00 99,228.40

4,265,000.000 3,968,960.84 5,116,379.30

50,000.000 50,000.00 48,805.15

340,000.000 338,160.60 332,413.24

150,000.000 156,406.80 146,004.75

120,000.000 119,282.40 109,234.20

55,000.000 54,914.20 55,635.42

80,000.000 79,892.00 70,910.40

1,000,000.000 996,810.00 989,457.00

50,000.000 49,785.50 47,205.30

1,000,000.000 997,548.00 1,019,117.00

500,000.000 497,335.00 506,766.50

1,000,000.000 1,000,000.00 975,567.00

170,000.000 168,927.30 169,729.87


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DUKE ENERGY CORP 6.45% DUE 10-15-2032SEDOL: 2026587

DUKE ENERGY FIXED 3.7% DUE 12-01-2047SEDOL: BDRYRQ0

DUKE ENERGY FLA 4.2% DUE 07-15-2048SEDOL: BYZMHG3

DUKE ENERGY IND 4.9 DUE 07-15-2043SEDOL: BBWX683

DUKE ENERGY 4.2% DUE 08-15-2045SEDOL: BYV3CD2

DUKE ENERGY 6.1% DUE 06-01-2037SEDOL: B1YBZM2

DUKE UNIV HLTH SYS 3.92% DUE 06-01-2047SEDOL: BZ4DLN9

ELI LILLY & CO 3.95% 05-15-2047SEDOL: BDVJY26

ENERGY TRANSFER 5.8% DUE 06-15-2038CUSIP: 29278NAD5

ENTERGY LA LLC 3.05% DUE 06-01-2031SEDOL: BD72474

ENTERGY LA LLC 4.0% 03-15-2033SEDOL: BD36VT1

ENTERPRISE PRODS OPER LLC 4.25% 02-15-2048SEDOL: BFY1ZL9

ENTERPRISE PRODS 3.75% DUE 02-15-2025SEDOL: BRKFLN3

EOG RES INC FIXED 3.9% DUE 04-01-2035SEDOL: BWCN5Z0

EQT CORP 4.875% DUE 11-15-2021SEDOL: B75M3Y4

EXPRESS SCRIPTS 4.5% DUE 02-25-2026SEDOL: BGPYWQ8

EXXON MOBIL CORP 3.043% DUE 03-01-2026SEDOL: BYYD0F7

FIRSTENERGY CORP 4.85% 07-15-2047SEDOL: BDC3P80


220,000.000 217,514.00 209,355.96

145,000.000 144,217.00 141,613.09

1,880,000.000 1,866,434.18 1,866,809.92

510,000.000 504,334.57 504,561.36

2,040,000.000 2,038,959.60 1,879,199.04

3,006,000.000 2,270,600.12 2,517,726.40

1,000,000.000 993,050.00 1,000,809.00

705,000.000 959,693.25 737,080.32

132,000.000 148,765.32 132,340.82

250,000.000 345,665.30 243,860.25

400,000.000 399,884.00 396,515.20

105,000.000 117,989.42 109,438.46

1,000,000.000 995,800.00 919,425.00

380,000.000 377,526.20 349,170.22

2,000,000.000 1,990,578.40 1,842,282.01

225,000.000 230,574.81 216,383.63

160,000.000 163,548.80 161,542.88

1,915,000.000 1,908,250.85 1,899,856.18


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FL PWR & LT CO 3.8% DUE 12-15-2042SEDOL: B84TPY7

FL PWR & LT CO 3.95% 03-01-2048SEDOL: BG1V081

FORD CR AUTO OWNER 2.31% DUE 04-15-2026SEDOL: BDHDM95

FORD CR FLOORPLAN 1.95% DUE 11-15-2021SEDOL: BG21HT0

GA PWR CO SR NT SER 2012A 4.3 DUE 03-15-2042SEDOL: B78K6L3

GE CAP INTL FDG CO 4.418% DUE 11-15-2035SEDOL: BYNWXZ6

GEN DYNAMICS CORP 3% DUE 05-11-2021SEDOL: BZ5YFG2

GEN ELEC CAP CORP MEDIUM TERM NTS BO TRANCHE # TR 008186.875 DUE 01-10-2039 SEDOL: B7XW2Z0

GEN ELEC CAP CORP 4.625 DUE 01-07-2021 REGSEDOL: B3V4ST6

GEN ELEC CAP CORP 6.15% DUE 08-07-2037SEDOL: BCZSZ30

GEN MTRS FINL CO 2.35% DUE 10-04-2019SEDOL: BD0DS94

GENERAL ELEC CAP CORP TRANCHE # TR 005286.75% DUE03-15-2032/03-20-2002 SEDOL: BG48W16

GENERAL MLS INC 3.2% 02-10-2027SEDOL: BYQ8GZ2

GEORGIA PWR CO 4.3% DUE 03-15-2043SEDOL: B9LV101

GILEAD SCIENCES 4.15% DUE 03-01-2047CUSIP: 375558BK8

GILEAD SCIENCES 4.5% DUE 02-01-2045SEDOL: BSNBJW0

GILEAD SCIENCES 4.6% DUE 09-01-2035CUSIP: 375558BG7

GILEAD SCIENCES 4.75% DUE 03-01-2046CUSIP: 375558BD4


585,000.000 589,275.11 586,734.53

295,000.000 293,318.50 268,927.90

100,000.000 126,740.00 110,479.10

1,280,000.000 1,276,877.34 1,277,788.16

1,095,000.000 1,066,974.60 963,606.57

340,000.000 336,882.20 314,041.34

2,010,000.000 2,010,000.00 1,868,033.70

400,000.000 398,712.00 382,708.80

310,000.000 336,636.00 294,954.46

890,000.000 1,035,010.71 1,015,095.74

2,450,000.000 2,515,475.01 2,766,745.80

445,000.000 444,639.55 457,188.55

250,000.000 247,587.50 246,022.75

90,000.000 97,003.94 88,365.33

140,000.000 139,984.70 138,193.58

1,500,000.000 1,496,100.00 1,407,865.50

325,000.000 319,481.50 335,526.75

70,000.000 86,672.60 66,450.51


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GILEAD SCIENCES 4.8% DUE 04-01-2044SEDOL: BKHDRD3

GILEAD SCIENCES 4% DUE 09-01-2036CUSIP: 375558BJ1

GILEAD SCIENCES 5.65% DUE 12-01-2041SEDOL: B6S0304

GM FINL CNSMR 2.74% DUE 07-16-2021CUSIP: 36255JAB0

GOLDMAN SACHS FLTG RT 4.017% DUE 10-31-2038SEDOL: BYZKX58

GOLDMAN SACHS 3.5% DUE 11-16-2026SEDOL: BZ12537

GOLDMAN SACHS 3.691% DUE 06-05-2028SEDOL: BF6Q761

GOLDMAN SACHS 3.75% DUE 05-22-2025SEDOL: BY58YX7

GOLDMAN SACHS 4.75% DUE 10-21-2045SEDOL: BYNZDD3

GOLDMAN SACHS 6.25% DUE 02-01-2041SEDOL: B920YP3

GOLDMAN SACHS 6.75% DUE 10-01-2037SEDOL: B9CMD63

GRAINGER W W INC FIXED 4.6% DUE 06-15-2045SEDOL: BYZWY62

GUARDIAN LIFE INS 4.85% DUE 01-24-2077SEDOL: BYMXNV6

HALLIBURTON CO 5% DUE 11-15-2045SEDOL: BYNR4N6

HERTZ VEH FING II 3.29% DUE 02-20-2024CUSIP: 42806DBQ1

HOME DEPOT INC 2.8% DUE 09-14-2027SEDOL: BDH44D6

HOME DEPOT INC 4.5% DUE 12-06-2048SEDOL: BHQFF46

HONEYWELL INTL INC FIXED 3.812% DUE 11-21-2047SEDOL: BG0PV14


750,000.000 747,300.00 701,491.50

460,000.000 460,977.29 502,644.76

550,000.000 635,468.50 690,275.30

30,000.000 30,274.20 29,309.52

160,000.000 164,119.30 160,126.08

390,000.000 389,968.06 390,490.23

1,000,000.000 1,007,410.00 976,108.00

2,080,000.000 2,049,611.20 2,265,486.08

450,000.000 442,966.50 416,950.65

120,000.000 119,164.80 109,508.88

140,000.000 139,585.60 114,246.86

60,000.000 59,656.80 58,972.44

110,000.000 110,000.00 109,344.18

1,000,000.000 996,680.00 971,169.00

2,052,000.000 1,999,483.73 1,899,985.80

95,000.000 94,448.05 91,183.47

95,000.000 94,464.20 92,311.41

300,000.000 297,966.50 293,658.00


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HONEYWELL INTL INC 2.5% DUE 11-01-2026SEDOL: BD828P9

HSBC BK USA N A GLOBAL MEDIUM TERM SUB BNT 5.625 DUE08-15-2035 SEDOL: BG48WF0

HSBC BK USA N A 7 DUE 01-15-2039SEDOL: BG48WG1

HUMANA INC FIXED 3.95% DUE 03-15-2027SEDOL: BYZKXV4

HUMANA INC 4.8% DUE 03-15-2047SEDOL: BYZKXY7

HYUNDAI AUTO 3.04% DUE 06-15-2021CUSIP: 44933AAB3

HYUNDAI CAP AMER 3.1% DUE 04-05-2022SEDOL: BD4H0T6

ILLINOIS TOOL WKS INC 4.875 DUE 09-15-2041 REGSEDOL: B83RFB9

IN DEFAULT PAC GAS & ELEC CO NO-INCOME 0% DUE 12-31-2040SEDOL: B8FPMT8

IN MICH PWR CO 3.75% DUE 07-01-2047SEDOL: BDRM6Q7

INDEFAULTED PACIFIC GAS & ELEC CO 3.3% 12-01-2027SEDOL: BG88F02

INDIANA MICH PWR CO 4.25% 08-15-2048SEDOL: BFXV4T1

INDIANA UNIV HEALTH INC 3.97% BNDS 11-01-2048SEDOL: BFZPKG0

INTEL CORP 3.15% DUE 05-11-2027SEDOL: BF3W9Q6

INTEL CORP 3.734% 12-08-2047 BEOSEDOL: BFMFJQ6

INTEL CORP 4.1% DUE 05-11-2047SEDOL: BF3W9R7

INTEL CORP 4.1% DUE 05-19-2046SEDOL: BDDQWX2

INTERCONTINENTAL 4.25% DUE 09-21-2048SEDOL: BG84470


1,000,000.000 1,387,310.00 1,178,730.00

255,306.740 254,947.71 253,473.64

1,150,000.000 1,146,584.50 1,070,460.25

220,000.000 219,170.60 201,259.74

3,470,000.000 3,405,105.10 3,043,425.96

1,135,000.000 1,121,850.06 1,015,778.47

240,000.000 289,524.00 291,853.44

120,000.000 147,991.20 122,200.80

160,000.000 182,412.80 175,886.88

720,000.000 720,000.00 732,344.40

240,000.000 239,584.80 223,336.32

50,000.000 50,000.00 49,848.00

100,000.000 102,881.20 101,413.70

170,000.000 188,700.00 191,525.40

70,000.000 69,939.10 67,890.76

10,000.000 9,908.10 9,302.28

260,000.000 290,011.40 291,837.26

50,000.000 60,761.50 55,743.05


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INTL PAPER CO 7.3% DUE 11-15-2039SEDOL: B3MDYN8

J P MORGAN MTG TR 3.283373% DUE 05-25-2045CUSIP: 46644XAK8

JOHNSON & JOHNSON 3.4% 01-15-2038SEDOL: BD5W7X3

JOHNSON & JOHNSON 3.5% 01-15-2048SEDOL: BFXCNB9

JPMORGAN CHASE & CO BNDS 3.897% 01-23-2049SEDOL: BDRJGF7

JPMORGAN CHASE & CO BNDS 4.032% 07-24-2048SEDOL: BF348D2

JPMORGAN CHASE & CO FORMERLY J P MORGAN NT 6.4 DUE05-15-2038 BEO SEDOL: B90J106

JPMORGAN CHASE & CO 4.85 NOTES DUE 02-01-2044SEDOL: BLSP4R8

JPMORGAN CHASE & CO 5.625 DUE 08-16-2043 REGSEDOL: BD035K4

JPMORGAN CHASE & FLTG RT 4.452% DUE 12-05-2029SEDOL: BH31X98

JPMORGAN CHASE & 3.625% DUE 12-01-2027SEDOL: BYMJ596

JPMORGAN CHASE & 4.203% DUE 07-23-2029SEDOL: BFMW7H4

JPMORGAN CHASE & 4.95% DUE 06-01-2045SEDOL: BYR8P32

JPMORGAN CHASE & 5.6% DUE 07-15-2041SEDOL: B6QKFT9

KANSAS CITY POWER & LIGHT CO 4.2% 03-15-2048SEDOL: BDVLN03

KANSAS CITY SOUTHN 4.3% DUE 05-15-2043SEDOL: BD1RHS7

KENTUCKY UTILITIES 5.125 11-1-2040SEDOL: B6QFCS2

KERR MCGEE CORP 6.95 DUE 07-01-2024 BEOSEDOL: BBMT8H4


10,000.000 8,668.00 8,709.95

60,000.000 59,569.20 57,736.02

70,000.000 76,687.10 80,462.20

1,500,000.000 1,498,710.00 1,511,059.50

60,000.000 59,964.60 56,641.14

135,000.000 134,022.60 123,858.99

1,000,000.000 1,269,890.00 1,197,855.00

50,000.000 51,132.50 49,557.70

500,000.000 495,690.00 465,579.50

570,000.000 566,374.80 491,505.87

1,575,000.000 1,570,747.50 1,393,152.08

70,000.000 69,496.00 73,628.38

270,000.000 271,547.82 296,311.23

180,000.000 245,940.75 230,180.40

3,055,000.000 3,240,085.38 3,469,633.77

500,000.000 520,470.00 507,280.00

110,000.000 109,521.50 104,604.61

500,000.000 498,855.00 469,057.00


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KIMBERLY CLARK 3.2% DUE 07-30-2046SEDOL: BD1R679

KIMBERLY CLARK 3.9% DUE 05-04-2047SEDOL: BF2YLV2

KIMBERLY CLARK 5.3% DUE 03-01-2041SEDOL: B63ZC30

KINDER MORGAN 4.15% DUE 03-01-2022SEDOL: B5N9YW8

KROGER CO 3.7% 08-01-2027SEDOL: BF347Q8

KROGER CO 4.65% 01-15-2048SEDOL: BF34898

LOCKHEED MARTIN CORP NT 6.15% DUE09-01-2036/12-18-2006 CUSIP: 539830AR0

LOCKHEED MARTIN 3.1% DUE 01-15-2023SEDOL: BD869B4

LOCKHEED MARTIN 3.6% DUE 03-01-2035SEDOL: BVYVQ29

LOWES COS INC 4.05% DUE 05-03-2047SEDOL: BYWC120

LOWES COS INC 4.25% DUE 09-15-2044SEDOL: BQQLW68

LSVLE GAS & ELEC 4.65% DUE 11-15-2043SEDOL: BFZB9W7

MA INST TECH 4.678% DUE 07-01-2114SEDOL: BM7SF38

MA INST TECH 5.6% DUE 07-01-2111SEDOL: B4LWP63

MA MUT LIFE INS CO 7.625% DUE 11-15-2023SEDOL: 2871130

MAGELLAN MIDSTREAM 4.25% DUE 02-01-2021SEDOL: B4VX5V1

MAPLE ESCR 5.085% DUE 05-25-2048SEDOL: BFM2HB8

MARATHON OIL CORP 3.85% DUE 06-01-2025SEDOL: BYZSGH5


160,000.000 158,331.20 158,729.12

95,000.000 94,696.95 77,758.55

1,000,000.000 995,710.00 1,006,241.00

130,000.000 129,886.90 129,107.03

59,000.000 49,993.06 57,595.68

170,000.000 169,185.70 161,718.11

150,000.000 149,754.00 143,415.15

500,000.000 499,615.00 481,896.00

145,000.000 144,763.65 148,298.03

70,000.000 78,844.50 80,070.34

2,155,000.000 2,165,341.90 2,187,921.94

805,000.000 785,461.01 1,041,091.21

675,000.000 670,788.00 704,320.65

470,000.000 538,938.10 529,462.05

235,000.000 247,478.78 276,727.07

785,000.000 783,842.01 824,066.31

2,570,000.000 2,560,054.10 2,420,580.20

30,000.000 29,792.10 27,906.66


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MARKEL CORP 5% DUE 04-05-2046SEDOL: BYZCF03

MARTIN MARIETTA 4.25% 12-15-2047SEDOL: BF0CG80

MASTERCARD INC 3.375 DUE 04-01-2024 BEOSEDOL: BLBNDY9

MASTERCARD INC 3.95% DUE 02-26-2048SEDOL: BF2J247

MAYO CLINIC 3.774% DUE 11-15-2043SEDOL: B8DWSJ3

MCDONALD'S CORP FIXED 4.45% DUE 09-01-2048SEDOL: BF8QNS3

MCDONALDS CORP 4.45% DUE03-01-2047 REG SEDOL: BDFC7W2

MCKESSON CORP NEW NT 2.7 12-15-2022SEDOL: BG48ZQ2

MEDTRONIC INC 4.5 DUE 03-15-2042 REGSEDOL: B4M8708

MEMORIAL SLOAN-KETTERING 5 7-1-2042SEDOL: B7DX7R0

MERCK & CO INC 4.15% DUE 05-18-2043SEDOL: B9D69N3

MERRILL LYNCH & CO 7.75% DUE 05-14-2038SEDOL: BBMT8T6

METLIFE INC 4.875% DUE 11-13-2043SEDOL: BGDXK74

METLIFE INC 5.7% DUE 06-15-2035SEDOL: B0BXDC0

METLIFE INC 5.875% DUE 02-06-2041SEDOL: B4Z51H1

MICROSOFT CORP FIXED 4.25% DUE 02-06-2047SEDOL: BYP2PC5

MICROSOFT CORP 3.45% DUE 08-08-2036CUSIP: 594918BS2

MICROSOFT CORP 3.5% DUE 11-15-2042CUSIP: 594918AR5


400,000.000 398,032.00 411,905.20

1,750,000.000 1,728,813.08 1,676,470.25

1,970,000.000 1,959,105.90 1,905,846.95

755,000.000 747,558.80 728,732.04

650,000.000 604,604.00 634,188.75

2,260,000.000 2,255,095.80 2,319,123.87

600,000.000 610,374.00 621,996.60

1,175,000.000 1,214,813.70 1,246,253.18

1,175,000.000 1,156,317.50 1,153,894.65

20,000.000 19,879.80 20,605.12

2,600,000.000 2,587,728.00 2,846,214.80

270,000.000 338,480.10 315,789.84

30,000.000 35,001.60 35,910.45

364,584.170 375,495.15 359,377.18

500,000.000 500,000.00 472,752.00

325,000.000 322,790.00 300,506.05

3,510,000.000 3,474,864.90 3,335,896.98

2,285,000.000 2,285,000.00 2,082,229.10


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MICROSOFT CORP 3.625% DUE 12-15-2023CUSIP: 594918AW4

MICROSOFT CORP 3.7% DUE 08-08-2046CUSIP: 594918BT0

MICROSOFT CORP 3.75% DUE 02-12-2045CUSIP: 594918BD5

MICROSOFT CORP 3.75% DUE 05-01-2043CUSIP: 594918AU8

MICROSOFT CORP 3.95% DUE 08-08-2056CUSIP: 594918BU7

MICROSOFT CORP 4.1% DUE 02-06-2037SEDOL: BYP2P70

MICROSOFT CORP 4.2% DUE 11-03-2035SEDOL: BYV2S20

MICROSOFT CORP 4.45% DUE 11-03-2045CUSIP: 594918BL7

MICROSOFT CORP 4% DUE 02-12-2055CUSIP: 594918BE3

MIDAMERICAN ENERGY 4.4% DUE 10-15-2044SEDOL: BL9FK80

MIDAMERICAN ENERGY 4.8% DUE 09-15-2043SEDOL: BDWGXK7

MIDAMERICAN ENERGY 5.95% DUE 05-15-2037SEDOL: B2374T8

MIDAMERICAN ENERGY 6.125% DUE 04-01-2036SEDOL: B1FTHZ2

MORGAN STANLEY BK 2.858 DUE 09-15-2022CUSIP: 61761DAD4

MORGAN STANLEY FORMERLY MORGAN STANLEY 3.591% 07-22-2028SEDOL: BZ9P8W8

MORGAN STANLEY 3.125% DUE 07-27-2026SEDOL: BYV6G28

MORGAN STANLEY 3.625% DUE 01-20-2027SEDOL: BYM4WS9

MORGAN STANLEY 3.971% 07-22-2038SEDOL: BZ9P947


900,000.000 886,416.14 841,810.50

1,000,000.000 1,154,070.00 1,042,651.00

320,000.000 368,596.77 391,615.04

270,000.000 311,944.72 339,975.63

40,000.000 40,857.20 36,819.88

165,000.000 163,038.15 144,102.26

120,000.000 149,446.80 144,697.08

90,000.000 89,554.50 93,731.76

150,000.000 149,559.00 147,806.10

500,000.000 499,085.00 490,861.00

485,000.000 447,021.76 467,506.05

1,265,000.000 1,248,011.05 1,240,615.86

65,000.000 64,420.85 63,200.87

585,000.000 584,997.95 586,047.15

500,000.000 498,585.00 485,940.50

770,000.000 767,759.30 777,256.48

2,855,000.000 2,920,807.75 3,605,745.09

500,000.000 499,865.00 441,438.00


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MORGAN STANLEY 4.3% DUE 01-27-2045SEDOL: BVRZ811

MORGAN STANLEY 5.75% DUE 01-25-2021SEDOL: B4552N4

MORGAN STANLEY 6.375% DUE 07-24-2042SEDOL: B98G6S2

MORGAN STANLEY 7.25% DUE 04-01-2032SEDOL: B4021X3

MPLX LP FIXED 5.2% DUE 03-01-2047SEDOL: BYXT874

MPLX LP 4.5% 04-15-2038SEDOL: BYZGJX6

N SHORE LONG IS 6.15% DUE 11-01-2043SEDOL: BDT7XZ8

NATIONAL RURAL UTIL COOP 4.4% DUE 11-01-2048 BEOSEDOL: BGLPK49

NATL RURAL UTILS 3.4% DUE 02-07-2028CUSIP: 637432NP6

NBCUNIVERSAL MEDIA LLC SR NT 2.875 01-15-2023SEDOL: B86PMS6

NBCUNIVERSAL MEDIA 4.45% DUE 01-15-2043SEDOL: B7W15J3

NESTLE HLDGS INC 4% DUE 09-24-2048SEDOL: BG0QJT1

NEW YORK & 4.024% DUE 08-01-2045SEDOL: BWWD066

NISSAN AUTO 3.07% DUE 10-15-2021CUSIP: 65478NAB1

NORTHERN TR CORP 2.375% DUE 08-02-2022CUSIP: 665859AN4

NORTHN STS PWR CO 4.125% DUE 05-15-2044SEDOL: BMM2784

NORTHN STS PWR CO 6.2% DUE 07-01-2037SEDOL: B1Z4JL7

NORTHROP GRUMMAN CORP 3.85% DUE 04-15-2045SEDOL: BVFMJ22


1,000,000.000 999,470.00 933,001.00

180,000.000 179,719.20 163,711.80

70,000.000 70,000.00 66,526.46

160,000.000 160,000.00 159,983.20

1,866,000.000 1,950,783.16 2,268,721.99

2,310,000.000 2,294,037.90 2,389,889.04

280,000.000 288,333.65 272,425.72

155,000.000 154,894.60 149,947.31

1,000,000.000 995,670.00 986,160.00

100,000.000 101,831.00 106,112.40

50,000.000 62,164.50 56,200.45

1,000,000.000 996,240.00 926,762.00

255,000.000 254,961.75 240,843.42

90,000.000 90,000.00 85,774.32

225,000.000 224,811.00 197,673.75

60,000.000 59,779.80 63,794.82

10,000.000 9,956.70 9,775.90

2,245,000.000 2,239,656.90 2,277,815.17


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NORTHROP GRUMMAN 3.25% DUE 01-15-2028SEDOL: BF15KF3

NORTHROP GRUMMAN 4.03% DUE 10-15-2047SEDOL: BF15KD1

NORTHWELL HEALTHCARE INC 4.26% 11-01-2047SEDOL: BF52DS4

NORTHWESTERN CORP 4.176% DUE 11-15-2044SEDOL: BSLVST2

NORTHWESTN MUT 6.063% DUE 03-30-2040SEDOL: B58P7W2

NSTAR ELEC CO 4.4% DUE 03-01-2044SEDOL: BKJ9BP9

OCCIDENTAL PETE 4.4% DUE 04-15-2046SEDOL: BDBFN16

OK GAS & ELEC CO 4.15% DUE 04-01-2047SEDOL: BYVBMP8

OMNICOM GROUP INC 3.625% DUE 05-01-2022SEDOL: B7T1YQ6

ONE GAS INC 4.658% DUE 02-01-2044SEDOL: BSKRSL3

ONEOK PARTNERS L P 6.85% DUE 10-15-2037SEDOL: B2830T3

ORACLE CORP 2.65% DUE 07-15-2026SEDOL: BY7RCX8

ORACLE CORP 3.85% DUE 07-15-2036SEDOL: BY7RCZ0

ORLANDO HEALTH INC 4.089% DUE 10-01-2048SEDOL: BG13DC2

PAC LIFE INS CO 4.3% 10-24-2067SEDOL: BZ3CYH2

PECO ENERGY CO 4.8 DUE 10-15-2043 BEOSEDOL: BDZDWC0

PEPSICO INC 4% DUE 05-02-2047SEDOL: BD0B4Y5

PFIZER INC 4.2% 09-15-2048SEDOL: BYZFHM8


2,965,000.000 2,958,506.65 3,022,903.49

90,000.000 99,320.40 93,721.41

1,000,000.000 997,630.00 1,026,629.00

80,000.000 79,860.80 74,925.36

1,000,000.000 998,760.00 854,557.00

1,000,000.000 1,027,410.00 970,454.00

185,000.000 183,131.50 179,286.65

90,000.000 89,495.10 89,761.41

170,000.000 169,435.60 171,867.62

60,000.000 60,000.00 59,151.60

140,000.000 138,178.60 131,156.48

70,000.000 82,777.80 86,835.98

95,000.000 95,000.00 90,491.02

190,000.000 188,789.70 182,071.68

190,000.000 189,572.50 185,895.43

108.740 0.00 108.88

250,000.000 244,700.00 245,267.63

250,000.000 246,925.00 247,457.25


31 DEC 18





Page 186 of 321


PFIZER INC 4.3% DUE 06-15-2043SEDOL: BCLYQM8

PFIZER INC 4.4% DUE 05-15-2044SEDOL: BMMB3K5

PHILLIPS 66 4.3% DUE 04-01-2022SEDOL: B94MSW2

PIEDMONT NAT GAS 4.1% DUE 09-18-2034SEDOL: BYT3W56

PLAINS ALL AMERN PIPELN L P/PAA 4.9% 02-15-2045SEDOL: BYM9466

PNC BK N A PITT PA 3.25% DUE 06-01-2025SEDOL: BYPC934

PPL ELEC UTILS CORP 3.95% 06-01-2047SEDOL: BZ1JSM8

PPL ELECTRIC UTILITIES CORP 4.15% 06-15-2048SEDOL: BFNC7K6

PRECISION 4.375% DUE 06-15-2045SEDOL: BZ0YDV8

PRESIDENT & 3.619% DUE 10-01-2037SEDOL: B95W553

PROCTER & GAMBLE FIXED 3.5% DUE 10-25-2047SEDOL: BYWG4T0

PROGRESSIVE CORP 6.25% DUE 12-01-2032SEDOL: BG491X4

PROVID HLTH & SVCS 3.93% DUE 10-01-2048SEDOL: BZ1D2N9

PUBLIC SVC ELEC GAS CO SECD MEDIUM TERM NTS 3.8 01-01-2043SEDOL: B8FS4X5

PVPTL HALFMOON PARENT INC 4.9% 12-15-2048SEDOL: BZ0X393

PVTPL AMBAC LSNI LLC FLTG 02-12-2023SEDOL: BG04C29

PVTPL AMMC CLO SER 12-11A CL A1R2 FLTG 04-30-2031CUSIP: 00176AAX3

PVTPL APIDOS CLO SR 13-12A CL AR VAR RT 04-15-2031CUSIP: 03764DAH4


205,028.310 205,182.08 204,525.58

400,000.000 400,000.00 390,046.04

250,000.000 245,950.00 245,992.70

390,000.000 401,669.78 380,713.71

1,000,000.000 995,000.00 999,729.00

120,000.000 116,352.00 118,748.76

250,000.000 248,600.00 248,761.00

220,000.000 226,351.64 230,532.94

3,750,000.000 3,713,441.41 3,711,633.75

130,000.000 129,790.70 127,674.95

95,000.000 94,759.65 94,369.87

250,000.000 244,375.00 245,115.18

375,000.000 375,000.00 374,929.43

230,360.420 230,360.42 229,645.10

240,000.000 239,790.20 239,331.36

160,000.000 160,000.00 150,552.48

500,000.000 499,745.00 492,237.00

250,000.000 243,875.00 246,995.53


31 DEC 18





Page 187 of 321


PVTPL AVERY PT V CLO LTD/AVERY PT V SER 14-5A CL ARFLTG 07-17-2026 CUSIP: 05363XAN7

PVTPL BALLYROCK CLO SER 18-1A CL A1 FLTG 04-20-2031CUSIP: 05875HAA1

PVTPL BLUEMOUNTAIN CLO LTD SE 15-3A CL A1R FLTG 04-20-2031CUSIP: 09628JAL5

PVTPL BXP TRUST SR 2017-GM 2017-GM CL A 3.379% DUE06-13-2039 SEDOL: BZ18S70

PVTPL CARGILL INC NT 144A 3.25% DUE 11-15-2021 BEOSEDOL: B3ZL172

PVTPL CARLYLE HLDGS II FIN L L C SR NT 144A 5.625% DUE03-30-2043 BEO SEDOL: B9M2Z34

PVTPL CARLYLE US CLO 2017-2 LTD/CARLYLE US C SR SECD NT CLA-1B FLTG 07-20-2031 CUSIP: 14315JAL3

PVTPL CMO MORGAN STANLEY CAP I TR 2018-MP MTG CTF CL A4.4185% DUE 07-11-2040 SEDOL: BFZMGV8

PVTPL FORD CR AUTO OWNER TR 2015-REV1 2.12%DUE 07-15-2026BEO SEDOL: BVDPT45

PVTPL HALFMOON PARENT INC NT 144A 4.8% DUE08-15-2038/09-17-2018 BEO SEDOL: BZ0X3D7

PVTPL KANSAS GAS & ELECTRIC COMPANY 1ST MTG BD 4.3 DUE07-15-2044 SEDOL: BF8QHG9

PVTPL KKR CLO SER 21 CL A FLTG 04-15-2031CUSIP: 48252KAA7

PVTPL LCM LTD PARTNERSHIP SER 24A CL A FLTG RT DUE03-20-2030 BEO CUSIP: 50188YAA2

PVTPL MAGNETITE CLO LTD SR 14-9A CL A1R FLTG RATE07-25-2026 CUSIP: 55953BAJ5

PVTPL MASS MUTUAL LIFE INS CO SURPLUS NT 4.9% DUE04-01-2077 SEDOL: BYXK3K5

PVTPL MASSACHUSETTS ELEC CO SR NT 144A 4.004% DUE08-15-2046/08-05-2016 BEO SEDOL: BD1FCR5

PVTPL METROPOLITAN LIFE GLOBAL FDG I 3 1-10-23SEDOL: B8FZDZ1

PVTPL MIDOCEAN CR CLO VII/MIDOCEAN CR CLO VI NT CL B FLTG144A 3C7 07-15-2029 CUSIP: 59801WAE6


2,490,000.000 3,149,524.65 2,599,557.51

1,200,000.000 1,187,172.00 1,163,894.40

2,180,000.000 2,155,511.18 2,610,815.96

680,000.000 678,003.30 615,777.40

350,000.000 347,742.50 344,676.78

1,000,000.000 996,790.00 1,002,420.00

219,698.560 219,698.56 219,157.22

522,459.580 519,928.92 519,902.14

3,004,567.830 2,986,503.91 2,987,417.76

2,960,000.000 2,949,106.59 2,929,701.44

250,000.000 250,000.00 246,185.60

250,000.000 250,000.00 247,624.43

90,000.000 84,754.06 85,725.09

100,000.000 102,701.00 96,075.20

500,000.000 498,615.00 502,083.00

1,000,000.000 986,020.00 1,000,646.00

1,000,000.000 995,970.00 1,016,953.00

1,000,000.000 996,940.00 918,744.00


31 DEC 18





Page 188 of 321


PVTPL MOTIVA ENTERPRISES LLC SR NT 144A 6.85% DUE01-15-2040/01-11-2010 BEO SEDOL: B5MMVT4

PVTPL NESTLE HLDGS INC 3.9% 09-24-2038SEDOL: BG0QJS0

PVTPL NEW YORK LIFE INSURANCE 5.875% DUE 05-15-2033SEDOL: 2660349

PVTPL NORTHWESTERN MUT LIFE INS CO SURPLUS 3.85%09-30-2047 SEDOL: BD6NK03

PVTPL OCTAGON INVT PARTNERS 36 LTD/OCTAGON I SR SECD NT CLA-1 FLTG 04-15-2031 CUSIP: 67591UAC1

PVTPL SCHLUMBERGER INVT SA GTD SR NT 144A 3.3% DUE09-14-2021/09-14-2011 BEO CUSIP: 806854AB1

PVTPL SENECA PK CLO LTD/SENECA PAK CLO LLC SR CL A-R FLTGDUE 07-17-2026 CUSIP: 817176AL4

PVTPL VERIZON OWNER TR 2016-1 ASSET BACKED NT CL A 144A1.42% DUE 01-20-2021 SEDOL: BG7P441

PVTPL VERIZON OWNER TR 2016-2 AST BACKEDCTF CL A 144A 1.68DUE 05-20-2021BEO SEDOL: BYVMJH2

PVTPL VERIZON OWNER TR 2017-2 CL A 1.92% 12-20-2021 BEOSEDOL: BF0Z991

PVTPL VOYA CLO LTD SR 2017-2A CL A-2A FLTG DUE 06-07-2030CUSIP: 92915UAC8

PVTPL ZAIS CLO 2 LTD SER 14-2A CL A1BR 2.92% DUE 07-25-2026CUSIP: 98886YAR9

QUALCOMM INC 4.8% DUE 05-20-2045SEDOL: BXS2XQ5

RAYMOND JAMES FINL 4.95% DUE 07-15-2046SEDOL: BYP6KY4

REPUBLIC SVCS INC 3.55% DUE 06-01-2022SEDOL: B86N2X5

REPUBLIC SVCS INC 3.95% DUE 05-15-2028SEDOL: BF4NFK4

SCHWAB CHARLES 4% DUE 02-01-2029SEDOL: BFY3NT9

SEMPRA ENERGY 3.25% 06-15-2027SEDOL: BD6DZZ3


118,000.000 116,723.24 100,884.22

1,000,000.000 995,740.00 1,017,517.00

140,000.000 129,625.50 132,544.16

115,000.000 114,948.25 117,641.21

30,000.000 25,172.70 27,502.35

60,000.000 59,937.00 59,591.04

935,000.000 933,008.45 830,173.41

1,098,000.000 1,276,124.71 1,049,787.92

60,000.000 59,758.80 55,002.48

2,000,000.000 2,000,500.00 1,991,938.00

840,000.000 834,775.20 797,307.84

170,000.000 169,886.10 163,567.88

100,000.000 96,967.20 91,678.10

100,000.000 99,680.00 95,712.50

248,000.000 265,358.81 322,453.07

100,000.000 100,870.00 101,384.30

790,000.000 786,492.40 788,285.70

1,000,000.000 992,630.00 929,363.00


31 DEC 18





Page 189 of 321


SEMPRA ENERGY 3.8% DUE 02-01-2038SEDOL: BFWJJY6

SHERWIN-WILLIAMS CO SR NT 7.25% DUE 06-15-2019SEDOL: BZ1HHL4

SOUTHERN CALIF EDISON CO 4.125% 03-01-2048SEDOL: BFMZDC0

SOUTHERN CALIF GAS CO 4.3% 01-15-2049SEDOL: BGHHQ74

SOUTHN CAL EDISON 4% DUE 04-01-2047SEDOL: BD9BPH6

SOUTHN CAL GAS CO 4.125% DUE 06-01-2048SEDOL: BF10906

SOUTHWESTN ELEC 3.85% DUE 02-01-2048SEDOL: BD1DDS7

SPCL1 GEN ELEC CAP CORP 5.875% DUE 01-14-2038SEDOL: B2NJ7Z1

STARBUCKS CORP 4.3% DUE 06-15-2045SEDOL: BYYG2D8

SUNTRUST BANK 3.689% 08-02-2024SEDOL: BFZS3K4

SYSCO CORP FIXED 4.45% DUE 03-15-2048SEDOL: BF28W66

TAMPA ELEC CO 4.35% DUE 05-15-2044SEDOL: BMMVFY3

TARGET CORP FIXED 3.9% DUE 11-15-2047SEDOL: BYZQN45

TEACHERS INS & 4.27% DUE 05-15-2047SEDOL: BF19248

TEACHERS INS & 6.85% DUE 12-16-2039SEDOL: B50WZ61

TEXAS HEALTH RES 4.33% DUE 11-15-2055SEDOL: BX90B31

TEXAS INSTRS INC 4.15% DUE 05-15-2048SEDOL: BG0DDF6

THERMO FISHER 3.2% DUE 08-15-2027SEDOL: BF2K6P9


80,000.000 82,704.80 80,327.68

180,000.000 222,074.20 224,270.10

140,000.000 151,590.60 118,742.82

70,000.000 69,896.40 59,488.80

1,890,000.000 1,861,121.50 1,768,705.47

130,000.000 129,803.70 127,489.31

170,000.000 170,606.90 167,627.82

110,000.000 109,891.10 98,309.97

130,000.000 140,873.20 116,262.38

70,000.000 69,759.20 70,905.87

335,000.000 332,695.20 334,813.41

750,000.000 745,897.50 754,782.75

65,000.000 64,733.50 66,906.71

1,000,000.000 999,500.00 1,008,622.00

1,380,000.000 1,376,536.20 1,246,116.54

2,305,000.000 2,276,579.35 2,177,628.01

960,000.000 956,956.80 927,059.53

1,750,000.000 2,101,977.50 1,850,637.25


31 DEC 18





Page 190 of 321


TIME WARNER CABLE 4.125% DUE 02-15-2021SEDOL: B5STKL4

TRAVELERS COS INC 6.25% DUE 06-15-2037SEDOL: B8YTZQ9

UNION PAC CORP 3.799% DUE 10-01-2051SEDOL: BDCWS88

UNION PAC CORP 4.1% DUE 09-15-2067SEDOL: BYWJVB0

UNION PAC CORP 4.15% DUE 01-15-2045SEDOL: BQ1KQC4

UNION PAC CORP 4.375% DUE 09-10-2038SEDOL: BDFY0H4

UNION PAC CORP 4.5% 09-10-2048SEDOL: BYZGKF5

UNION PACIFIC CORP 3.6% DUE 09-15-2037SEDOL: BYWJV98

UNITED TECHNOLOGIES CORP 4.15% 05-15-2045SEDOL: BWTZ6W3

UNITEDHEALTH GROUP FIXED 3.875% DUE 12-15-2028SEDOL: BHHK971

UNITEDHEALTH GROUP FIXED 4.25% DUE 06-15-2048SEDOL: BG08PD3

UNITEDHEALTH GROUP INC 3.375 DUE 11-15-2021SEDOL: B5VQJQ0

UNITEDHEALTH GROUP INC 4.45% DUE 12-15-2048 REGSEDOL: BHHK982

UNITEDHEALTH GROUP 3.5% DUE 06-15-2023SEDOL: BYZGKG6

UTD PARCEL SVC INC 3.75% 11-15-2047SEDOL: BDRYRR1

UTD TECHNOLOGIES 4.5% DUE 06-01-2042SEDOL: B8J6DZ0

UTD TECHNOLOGIES 4.625% DUE 11-16-2048SEDOL: BYVN9P3

UTD TECHNOLOGIES 5.4% DUE 05-01-2035SEDOL: BG495S7


145,000.000 155,860.50 145,807.94

120,000.000 203,977.20 181,054.20

1,000,000.000 1,272,840.00 1,233,345.00

1,500,000.000 1,568,092.50 1,445,688.00

500,000.000 496,700.00 493,138.50

110,000.000 113,019.50 103,886.53

500,000.000 496,275.00 473,522.00

1,080,000.000 1,076,425.40 1,016,713.08

1,090,000.000 1,260,973.90 1,348,022.62

2,625,000.000 2,445,072.70 2,964,320.63

520,000.000 514,137.61 559,772.20

645,000.000 638,311.35 639,029.24

1,840,000.000 1,816,061.60 1,830,834.97

1,240,000.000 1,240,000.00 1,190,494.24

40,000.000 39,724.80 37,656.12

160,000.000 159,695.00 157,386.40

1,500,000.000 1,495,950.00 1,451,011.50

110,000.000 109,632.60 100,933.25


31 DEC 18





Page 191 of 321


VA ELEC & PWR CO 4.45 02-15-2044SEDOL: BJSVPB3

VA ELEC & PWR CO SR NT 2008 SER B 8.875 DUE 11-15-2038SEDOL: B3FD1W3

VALERO ENERGY CORP 7.5% DUE 04-15-2032SEDOL: 2369408

VERIZON COMMUNICATIONS 4.4% DUE 11-01-2034 REGSEDOL: BSBN5N1

VERIZON FIXED 3.5% DUE 11-01-2024SEDOL: BSBN3X7

VIRGINIA ELEC & PWR CO 4 DUE 01-15-2043SEDOL: B7S97N9

VISA INC 2.75% 09-15-2027SEDOL: BD5WJ15

VISA INC 3.65% 09-15-2047SEDOL: BD5WHT9

WACHOVIA BK NATL ASSN MEDIUM TERM SUB BKTRANCHE # SB00009 6.6 DUE 01-15-2038 SEDOL: B7XGYR8

WACHOVIA BK NATL ASSN MTN SUB BKTRANCHE # SB 00007 5.85 DUE02-01-2037 BEO SEDOL: B1PB082

WACHOVIA CORP NEW 5.5% DUE 08-01-2035SEDOL: BG496M8

WALMART INC 3.95% DUE 06-28-2038SEDOL: BGLQSV5

WALMART INC 4.05% DUE 06-29-2048 REGSEDOL: BG08Q52

WELLS FARGO & CO FLTG RT 3.584% DUE 05-22-2028SEDOL: BF3R2P1

WELLS FARGO & CO NEW MEDIUM TERM SR 4.65% 11-04-2044SEDOL: BS9FPF1

WELLS FARGO & CO NEW MEDIUM TERM SR NTS TRANCHE # TR 001554.3% DUE 07-22-2027 SEDOL: BYQXN34

WELLS FARGO & CO 3.3 09-09-2024SEDOL: BQSCKF4

WELLS FARGO & CO 3.9% DUE 05-01-2045SEDOL: BX2H0V0


710,000.000 707,564.70 661,605.69

220,000.000 219,491.80 203,659.28

100,000.000 101,702.09 91,731.20

360,000.000 365,187.80 346,626.00

550,000.000 600,799.02 536,291.80

70,000.000 75,545.80 76,922.37

140,000.000 139,447.00 146,100.36

243,000.000 243,084.55 263,536.66

10,000.000 12,786.20 11,727.94

2,520,000.000 2,342,743.20 2,900,010.96

1,390,000.000 1,388,929.70 1,639,902.54

350,000.000 351,984.80 432,776.75

80,000.000 100,876.00 94,719.04

532,337.000 3,999,999.78 0.01

1,618,380.000 2,859,999.83 0.02


31 DEC 18






United States - USD

United States - USD

Page 192 of 321



Total Corporate Debt Instruments - Other 337,259,341.40 335,718,079.72

WELLS FARGO & CO 3% DUE 04-22-2026SEDOL: BD72T35

WELLS FARGO & CO 3% DUE 10-23-2026SEDOL: BYQ74R7

WELLS FARGO & CO 4.4% DUE 06-14-2046SEDOL: BD39X50

WELLS FARGO & CO 4.75% DUE 12-07-2046SEDOL: BDSFRX9

WELLS FARGO & CO 4.9% DUE 11-17-2045SEDOL: BYQ29R7

WELLS FARGO & CO 5.375% DUE 02-07-2035SEDOL: BG496Q2

WELLS FARGO & CO 5.375% DUE 11-02-2043SEDOL: BG48MR2

WELLS FARGO & CO 5.606% DUE 01-15-2044SEDOL: BJTGHH7

WELLS FARGO & CO 6.55 DUE 10-15-2035SEDOL: 2423605

WELLS FARGO BK 5.95% DUE 08-26-2036SEDOL: B1CL665

WI ELEC PWR CO 5.7% DUE 12-01-2036SEDOL: B1GKMM6

WYETH 6% DUE 02-15-2036SEDOL: BG491R8

1ST UN CORP BD STEP UP 08-01-2026SEDOL: 2664062

PVTPL EXPERIENCE INC SER B CONV PFDCUSIP: 302996335

PVTPL EXPERIENCE INC SER C CONV PFDCUSIP: 302996343


1,375,000.000 687,500.00 1.00

200,000.000 200,000.00 1.00

212.000 0.00 10.30

5,782.000 0.00 2.89

162,000.000 120,573.26 0.00

11,175.000 129,842.00 13,745.25

35,981.000 0.00 0.36

7,524.000 119,764.21 18,734.76

20,582.000 540,842.15 52,895.74


31 DEC 18






United States - USD

Australia - AUD

Canada - USD

Hong Kong - HKD

United States - USD

Page 193 of 321


Total United States - USD 7,747,499.61 2.03

Total Corporate Stock - Preferred 7,747,499.61 2.03

Total Australia - AUD 0.00 10.30

Total Canada - USD 0.00 2.89

Total Hong Kong - HKD 120,573.26 0.00

RENAMED BIOLOGIES INC SER E PFDCUSIP: 759991870

TECTURA CORP SERIES C PFDCUSIP: BNT999HD4

WHITE ENGY CO LTD NPVSEDOL: 6167619

NORTEL NETWORKS CORP NEW COMSEDOL: B1H4Y87

PEACE MARK(HLDGS) HKD0.10SEDOL: 6433774

ACHAOGEN INC COMSEDOL: BK35H22

ACI GLOBAL CORP COM STKSEDOL: B032WD9

APPLIED GENETIC TECHNOLOGIES CORP COMSEDOL: BKRVPJ9

CHIMERIX INC COMSEDOL: B8RLM49


0.080 0.08 0.08

5,980.000 393,850.39 275,080.00

2,226,433.000 2,226,433.00 1,677,856.00

1.000 1.13 193,195.79

6,436.000 6,436.00 288,789.00

0.560 0.56 191,715.00

3,314,166.700 3,314,166.70 378,991.00

8,337,568.090 8,337,568.09 10,807,241.79

4,082,586.080 4,082,586.08 4,737,189.24

3,311,602.480 3,311,602.48 3,571,931.08

37,369.000 37,369.00 435,073.00


31 DEC 18






United States - USD

Africa Region - USD

Asia Region - EUR

Asia Region - USD

Page 194 of 321


Total United States - USD 1,184,298.83 360,456.19

Total Corporate Stock - Common 1,304,872.09 360,469.38

Total Africa Region - USD 2,226,433.00 1,677,856.00

Total Asia Region - EUR 1.13 193,195.79

DOW ATTRIBUTION SECURITYCUSIP: 6YP999E35

ESPERION THERAPEUTICS INC NEW COMSEDOL: BBNBTD2

PINEBRIDGE SUB-SAHARAN AFRICA FUND LPCUSIP: 9925M2993

APAX EUROPE VICUSIP: 991DJR996

AXIOM ASIA PRIVATE CAPITAL FUND ICUSIP: 991DKT990

BARING ASIA PRIVATE EQUITY FUND III LP 1CUSIP: 991DMB997

BARING ASIA PRIVATE EQUITY FUND IVCUSIP: 991DMN991

BARING ASIA PRIVATE EQUITY FUND V, LPCUSIP: 991DMQ994

BARING ASIA PRIVATE EQUITY FUND VI LP 1CUSIP: 9922XC996

BPE ASIA REAL ESTATE FUND, L.P.CUSIP: 991RXT995

MORGAN STANLEY PRIVATE EQUITY ASIA TEE LPCUSIP: 991DLG997


2,600,608.990 2,600,608.99 2,322,525.00

666,443.400 674,817.89 0.73

1,666,151.000 1,666,151.00 446,771.00

1,774,658.000 1,774,658.00 29,155.00

1,819,587.770 2,403,284.15 674,414.19

1,212,392.150 1,582,167.42 807.06

2,267,734.050 2,267,734.05 2,164,639.87

600,093.040 600,093.04 593,337.00

797,452.440 1,050,196.49 439,526.33


31 DEC 18




Partnership/Joint Venture InterestsAsia Region - USD

Canada - CAD

China - USD

Europe Region - EUR

Europe Region - USD

Global Region - EUR

Page 195 of 321


Total Asia Region - USD 21,690,337.90 22,733,455.11

Total Canada - CAD 674,817.89 0.73

Total China - USD 3,440,809.00 475,926.00

Total Europe Region - EUR 3,985,451.57 675,221.25

Total Europe Region - USD 2,867,827.09 2,757,976.87

Total Global Region - EUR 1,050,196.49 439,526.33

NORTH HAVEN PRIVATE EQUITY ASIA III TE, L.P.CUSIP: 991DKW993

GREENSTONE VENTURES LPCUSIP: 991DJK991

CAPITAL TODAY CHINA GROWTH FUNDCUSIP: 991DKN993

TROPHY PROPERTY (T.E.) LPCUSIP: 991DMR992

APAX EUROPE VII-A ERISA (FEEDER) LPCUSIP: 991DJL999

COMPOSITION CAPITAL EUROPE II FEEDER C.V.CUSIP: 991DJJ994

HENDERSON PARK REAL ESTATE FUND I US TE LPCUSIP: 992WHB990

PINEBRIDGE PRIVATE EQUITY PORTFOLIO III (formerly AIG PVTEQTY PORTFOLIO III) CUSIP: 991DLD994

TVM LIFE SCIENCE VENTURES VI LPCUSIP: 991DJU999


1.000 1.00 100,691.00

1,652,170.000 1,652,170.00 2,716,944.00

3,245,000.000 3,245,000.00 3,764,180.00

3,809,755.430 3,809,755.43 4,641,264.06

1.000 1.00 144,353.00

1,561,656.940 1,561,656.94 24,715.00

2,488,019.260 2,488,019.26 144,014.00

610,619.120 610,619.12 293,753.00

4,059,767.090 4,059,767.09 5,016,648.00

8,784,424.820 8,784,424.82 11,736,796.00

7,125,753.000 7,125,753.00 7,641,937.00

9,878,071.850 9,878,071.85 9,998,520.00

2,585,235.100 2,585,235.10 3,167,098.26

3,881,309.850 3,881,309.85 2,477,582.00

3,721,639.620 3,721,639.62 3,957,769.21

6,690,897.750 6,690,897.75 7,380,719.12

1,768,140.780 1,768,140.78 729,110.00

243,871.000 243,871.00 207,866.00


31 DEC 18





Page 196 of 321


ADVENT INTERNATIONAL GPE V-ACUSIP: 991DKH996

ADVENT INTERNATIONAL GPE VII-BCUSIP: 991GAT994

ADVENT INTERNATIONAL GPE VIII-B LPCUSIP: 992AUP992

APOLLO INVESTMENT FUND VIII, L.P.CUSIP: 991PUY991

CANYON DISTRESSED OPPORTUNITY FUND (CAYMAN) LPCUSIP: 991DMC995

CAP INTL PRIVATE EQUITY FD IVCUSIP: 991DMV993

CAPITAL INTL PRIVATE EQUITY FUND VCUSIP: 991DKG998

GEAM INTERNATIONAL PRIVATE EQUITY FUND, LPCUSIP: 991DKM995

GLOBAL INFRASTRUCTURE PARTNERS - BCUSIP: 991DLY998

GLOBAL INFRASTRUCTURE PARTNERS II-B FEEDER FUNDCUSIP: 991FR5990

GLOBAL INFRASTRUCTURE PARTNERS III-B FEEDER FUND, LPCUSIP: 9927XJ990

HANCOCK TIMBERLAND XII LPCUSIP: 991QRL991

HIGHBRIDGE PRINCIPAL STRATEGIES - OFFSHORE MEZZANINEPTRS II CUSIP: 991HZP993

HIGHBRIDGE PRINCIPAL STRATEGIES - SPECIALTY LOAN FUNDIII, LP CUSIP: 991FPW993

NCH AGRIBUSINESS PARTNERSCUSIP: 991DLJ991

PETERSHILL II OFFSHORE LPCUSIP: 991WE4990

PINEBRIDGE ASIA PARTNERS IICUSIP: 991DLN992

PLATINUM EQUITY SMALL CAP FUND LPCUSIP: 992TMA993


2,071,297.970 2,071,297.97 2,078,837.36

4,530,088.000 4,530,088.00 4,595,575.00

3,054,781.400 3,054,781.40 956,616.00

1,387,637.520 1,387,637.52 679,162.00

39,461,230.000 472,526.45 183,907.93

5,104,641.490 5,104,641.49 5,088,532.19

603,564.260 603,564.26 590,142.00

844,285.960 1,097,958.64 1,420,376.51

108,236.890 141,127.21 176,740.14


31 DEC 18





Israel - USD

Japan - JPY

North America Region - USD


United Kingdom - EUR

Page 197 of 321


Total Global Region - USD 68,707,719.58 70,818,372.01

Total Israel - USD 4,442,418.92 1,635,778.00

Total Japan - JPY 472,526.45 183,907.93

Total North America Region - USD 5,104,641.49 5,088,532.19


Total United Kingdom - EUR 1,239,085.85 1,597,116.65

RIVERWOOD CAPITAL PARTNERS II L.P.CUSIP: 991RAY999

West Street Energy Partners, L.P.CUSIP: 991JGF992

PITANGO VENTURE CAPITAL FUND IVCUSIP: 991DMT998

PITANGO VENTURE CAPITAL FUND VCUSIP: 991DKE993

GLOBIS FUND III, LPCUSIP: 991DTT991

APOLLO NATURAL RESOURCE PARTNERS II LPCUSIP: 9923R9998

MORGAN CREEK NEW CHINA FUND, LPCUSIP: 992KXA990

VIP I ACUSIP: 991DJW995

VIP I A (SIDE FUND)CUSIP: 991DJY991


224,559.200 324,925.86 376,671.40

2,021,032.510 2,925,843.23 3,004,708.39

4.000 0.00 -10,642,053.80

531,198.980 531,198.98 777,168.00

2,292,708.880 2,292,708.88 1.00

1,100,162.660 1,100,162.66 1,513,896.00

1,989,071.950 1,989,071.95 3,197.00

308,086.000 308,086.00 331,234.00

1,231,484.980 1,231,484.98 3,291.00

841,485.000 841,485.00 895,023.00

3,449,285.810 3,449,285.81 3,930,729.00

3,278,420.470 3,278,420.47 3,358,949.00

409,452.670 409,452.67 653,871.00

2,300,461.320 2,300,461.32 554,071.60

649,486.300 649,486.30 549,558.14

4,552,365.450 4,552,365.45 1,973,364.77

1,369,211.690 1,369,211.69 2,225,820.00


31 DEC 18




Partnership/Joint Venture InterestsUnited Kingdom - GBP

United States - USD

Page 198 of 321


Total United Kingdom - GBP 3,250,769.09 3,381,379.79

VIP II A (SF) LPCUSIP: 991PNQ996

VIP II A LPCUSIP: 991PNP998

&&& DOW OVER THE TOP ADJUSTMENTCUSIP: 000738195

AIG ALTARIS HEALTH PARTNERS IICUSIP: 991DAP999

ALTA BIOPHARMA PARTNERS III, LPCUSIP: 991DMW991

ALTA PARTNERS VIIICUSIP: 991DAR995

ALTA VCUSIP: 991DAU998

ALTARIS CONSTELLATION PARTNERS FUND IV LPCUSIP: 992S94994

ALTARIS HEALTH PARTNERSCUSIP: 991DAW994

ALTARIS HEALTH PARTNERS FUND IV LPCUSIP: 992S93996

ALTARIS HEALTH PARTNERS III, L.P.CUSIP: 991PHV992

AP Converse Co-Invest, L.P.CUSIP: 992Q92992

APAX US VII GP, LPCUSIP: 991DBB999

APOLLO INVESTMENT FUND VICUSIP: 991DBD995

ARAVIS VENTURE I, LPCUSIP: 991DME991

ARCH VENTURE FUND VICUSIP: 991DBG998

ARCH VENTURE FUND VIICUSIP: 991DBJ992


632,774.360 632,774.36 6,557.00

2,787,106.480 2,787,106.48 1,259,394.00

520,097.460 520,097.46 22,553.00

1.000 1.00 779,942.00

30,934,598.400 30,934,598.40 31,802,298.00

15,177,868.000 15,177,868.00 15,624,846.00

1,597,967.630 1,597,967.63 824,793.00

2,681,582.170 2,681,582.17 3,241,169.00

3,262,204.890 3,262,204.89 3,824,149.00

700.000 3,967,870.53 113,953.00

867,202.560 867,202.56 868,948.00

6,417,138.860 6,417,138.86 586,702.00

6,901,395.020 7,532,919.96 8,004,234.00

3,825,962.220 3,825,962.22 4,319,830.09

4,963,045.600 4,963,045.60 4,128,755.74

3,133,101.870 3,133,101.87 1,281,111.30

1,045,071.180 1,045,071.18 12,114,907.12

4,714,762.230 4,714,762.23 8,499,975.00


31 DEC 18





Page 199 of 321


ARCLIGHT ENERGY PARTNERS FUND IIICUSIP: 991DBL997

ARTIMAN VENTURES IICUSIP: 991DBQ996

AURORA EQUITY PARTNERS IIICUSIP: 991DBS992

AVENUE SPECIAL SITUATIONS FUND VI (B-FEEDER)CUSIP: 991DBU997

BLACKROCK US CORE PROPERTY FUNDCUSIP: 992PYY996

BLACKSTONE PROPERTY PARTNERS LPCUSIP: 992R45998

BLACKSTONE REAL ESTATE PARTNERS VI TE 2 LPCUSIP: 991DBX991

BLACKSTONE REAL ESTATE PARTNERS VII LPCUSIP: 991DBY999

BLACKSTONE REAL ESTATE PARTNERS VIII TE 1 LPCUSIP: 9922ML998

CF ASIAVEST OPPORTUNITIES IV (ONLY DOW)FUNDCUSIP: 127994283

CIM MARKETPLACECUSIP: 9923X5999

CMEA VENTURES VI, LPCUSIP: 991DCD994

CYTOPHERXCUSIP: 991DQC991

EIG ENERGY FUND XVI LPCUSIP: 991LR3992

ENERGY FUND XV-A, L.P.CUSIP: 991DHD999

ENERGY RECAPITALIZATION AND RESTRUCTURING FUNDCUSIP: 991DCK998

FIRSTMARK CAPITAL ICUSIP: 991DCR993

FIRSTMARK IICUSIP: 991DCS991


2,261,311.830 2,261,311.83 440,540.00

735,943.480 735,943.48 1,231,741.00

2,325,797.540 2,325,797.54 3,862,667.00

1,783,496.980 1,783,496.98 620,824.00

3,485,449.030 3,485,449.03 846,864.00

619,350.770 619,350.77 809,707.99

848,713.880 848,713.88 881,354.34

4,104,110.060 4,104,110.06 4,024,475.79

3,921,084.800 3,921,084.80 6,184,075.73

2,141,717.130 2,141,717.13 2,050,655.01

1,405,875.020 1,405,875.02 414,147.00

2,739,063.570 2,739,063.57 1,879,343.00

204,815.000 204,815.00 802,883.00

17,944,141.000 17,944,141.00 20,557,958.00

807,830.670 807,830.67 19,585.00

6,204,322.460 6,204,322.46 6,582,219.66

5,401,316.000 5,401,316.00 5,365,989.00

3,353,079.350 3,353,079.35 56,483.00


31 DEC 18





Page 200 of 321


FOCUS VENTURES IIICUSIP: 991DCU996

FORTRESS CREDIT OPPORTUNITIES FUND II (B), LPCUSIP: 991DCW992

FORTRESS CREDIT OPPORTUNITIES FUND II (C)CUSIP: 991DCY998

FORWARD VENTURES IV, LPCUSIP: 991DDA999

FORWARD VENTURES VCUSIP: 991DDC995

FRAZIER HEALTHCARE VCUSIP: 991DDE991

FRAZIER HEALTHCARE VICUSIP: 991DDG996

GCM Grosvenor Infrastructure Partners LPCUSIP: 991DCH995

GLOBESPAN CAPITAL PARTNERS IV, LPCUSIP: 991DDN991

GLOBESPAN CAPITAL PARTNERS VCUSIP: 991DDQ994

GREENHILL CAPITAL PARTNERS IICUSIP: 991DDS990

HARBOUR GROUP INVESTMENTS VCUSIP: 991DDU995

HARRISON STREET REAL ESTATE PARTNERS III, LPCUSIP: 991DDW991

HD PENSION FARMLAND LLCCUSIP: 991DDY997

HIGH STREET REAL ESTATE FUND IV, INC.CUSIP: 991GFB998

HIGH STREET REAL ESTATE FUND V INCCUSIP: 992JAQ993

HSREP VI CO-INVESTMENT 3, LPCUSIP: 992RT3996

INTERSOUTH PARTNERS V LPCUSIP: 991DEG995


3,062,208.960 3,062,208.96 1,822,348.00

3,338,452.000 3,338,452.00 2,335,687.00

1,868,738.790 1,868,738.79 1,513,340.71

2,715,511.000 2,715,511.00 11,719,568.00

840,000.000 840,000.00 1,412,587.00

880,279.590 880,279.59 44,940.00

3,143,661.550 3,143,661.55 4,252,677.35

384,010.790 384,010.79 342,719.28

6,124,425.050 6,124,425.05 246,374.00

1.000 1.00 54,024.86

1.000 1.00 19,846.23

1.000 1.00 2,727.51

314,446.000 1.00 1.00

1,399,536.870 4,329,039.32 162,780.00

2,000,000.000 2,000,000.00 643,418.00

534,157.000 8,552,663.73 7,659,811.38

2,541,666.670 2,541,666.67 2,935,487.00

1,421,977.080 1,421,977.08 710,071.00


31 DEC 18





Page 201 of 321


INTERSOUTH PARTNERS VICUSIP: 991DEJ999

KKR MEZZANINE PARTNERS I, L.P.CUSIP: 991DEM992

LEXINGTON CAPITAL PARTNERS VIICUSIP: 991DEN990

LIMULUS VENTURE CAPITAL PARTNERS LPCUSIP: 991M75997

LIMULUS VENTURE PARTNERS II LIMITEDCUSIP: 991X16997

LONGITUDE VENTURE PARTNERSCUSIP: 991DEQ993

MACQUARIE INFRASTRUCTURE PARTNERS III, LPCUSIP: 991UBS994

MACQUARIE INFRASTRUCTURE PARTNERS IV LPCUSIP: 992NPD997

MATLIN PATTERSON GLOBAL OPPORTUNITIES PARTNERS IICUSIP: 991DET997

MEDIPHASE VENTURE PARTNERS (DP&UP) LPCUSIP: 991DEX998

MEDIPHASE VENTURE PTRS IICUSIP: 991DEZ993

MEDIPHASE VENTURE PTRS II (ANNEX FUND)CUSIP: 991DEV992

MEDTRONICCUSIP: 991DPF995

MEDVANTXCUSIP: 991DPJ997

MISSION VENTURES III, LPCUSIP: 991DFB995

MLP FORTRESS TRANSN & INFRASTRUCTURE INVS LL COM REPSTGLTD LIABILITY CO INTS CUSIP: 34960P101

MORGAN CREEK PRIVATE OPPORTUNITIES LLC SERIES BCARMENTA-LYFT CUSIP: 992MX1996

MPM BIOVENTURES IV-QPCUSIP: 991DFD991


1,037,291.900 1,037,291.90 1,085,359.00

2,647,982.560 2,647,982.56 2,825,148.27

3,856,820.000 3,856,820.00 89,267.00

3,322,487.640 3,322,487.64 6,589,294.68

45,932.000 45,932.00 781,251.00

3,013,558.560 3,013,558.56 503,650.00

2,510,687.260 2,510,687.26 2,749,043.00

5,681,844.640 5,681,844.64 5,173.02

10,389,116.200 10,389,116.20 710,020.00

3,939,400.450 3,939,400.45 1,372,188.00

1,203,969.570 1,203,969.57 1,320,651.00

1,895,287.440 1,895,287.44 1,174,444.00

3,846,790.900 3,846,790.90 1,633,035.00

1,853,384.000 1,853,384.00 1,755,159.00

7,461,208.190 7,461,208.19 371,475.00

1,619,802.470 1,619,802.47 707,575.16

3,516,323.060 3,516,323.06 1,826,878.00

2,776,349.670 2,776,349.67 4,082,435.00


31 DEC 18





Page 202 of 321


NOSON LAWEN PARTNERSCUSIP: 991DFF996

Pimco Bravo Fund lll Onshore Feeder TE LPCUSIP: 992MR2991

PANTHEON USA FUND IIICUSIP: 991DFG994

PIMCO BRAVO FUND OFFSHORE FEEDER II LPCUSIP: 991QAX993

PLATINUM EQUITY CAPITAL PARTNERSCUSIP: 991DFK995

PLATINUM EQUITY CAPITAL PARTNERS IICUSIP: 991DFM991

PLATINUM EQUITY CAPITAL PARTNERS III, L.P.CUSIP: 991LM4995

POLARIS VENTURE PTRS IICUSIP: 991DFN999

POLARIS VENTURE PTRS IIICUSIP: 991DFP994

POLARIS VENTURE PTRS IVCUSIP: 991DFQ992

POLARIS VENTURE PTRS VCUSIP: 991DFS998

POMONA CAPITAL VIIICUSIP: 991KV3999

PRESIDIO PARTNERS 2007, LPCUSIP: 991DCF999

PWP GROWTH EQUITY FUND II LPCUSIP: 992QMC995

QUAKER BIOVENTURESCUSIP: 991DFX997

QUAKER BIOVENTURES II LPCUSIP: 991DFZ992

RHO VENTURES VCUSIP: 991DGB994

SANDERLING VENTURE PTRS VICUSIP: 991DGD990


2,843,372.210 2,843,372.21 2,040,129.48

1.000 1.00 141,848.00

1,441,577.290 1,441,577.29 890,300.72

723,210.520 723,210.52 1,929,047.00

500,294.000 500,294.00 444,782.00

9,885,466.540 9,885,466.54 4,173,084.00

981,548.230 981,548.23 672,330.00

2,567,362.800 2,567,362.80 2,793,634.14

5,427,966.610 5,427,966.61 1,430,483.00

4,299,998.450 4,299,998.45 1.00

195,167.080 195,167.08 46,464.00

1,312,082.230 1,312,082.23 695,756.00

4,883,535.510 4,883,535.51 4,569,106.00

1,813,557.310 1,813,557.31 1.00

700,044.300 700,044.30 286,902.43

4,122,649.260 4,122,649.26 7,023,486.50

4,715,900.000 4,715,900.00 5,394,253.00

1,488,243.070 1,488,243.07 1.00


31 DEC 18





Page 203 of 321


SANDERLING VENTURE PTRS VI CO- INVCUSIP: 991DGF995

SIGULER GUFF DISTRESSED OPPORTUNITIES FUND IICUSIP: 991DGM990

SOFINNOVA VENTURE PARTNERS VIICUSIP: 991DGR999

SPECIAL SITUATION PARTNERS IICUSIP: 991DGT995

STONEPEAK INFRASTRUCTURE FUND III LPCUSIP: 992QHF994

STRATFORD LAND FUND IIICUSIP: 991DGV990

STRATFORD LAND FUND III-ACUSIP: 991DGX996

STRATFORD LAND FUND IV LPCUSIP: 991DGZ991

TCW ENERGY FUND XIV-ACUSIP: 991DHE997

TECTURACUSIP: 991DPV990

THE HURON FUND II, LPCUSIP: 991DEB996

THE HURON FUND III, LPCUSIP: 991DED992

THE HURON FUND IV LPCUSIP: 991KW9995

TRANSMOLECULARCUSIP: 991DPZ991

US VENTURE PARTNERS IXCUSIP: 991DHK993

WARBURG PINCUS PRIVATE EQUITY XI, LPCUSIP: 991GEY999

WARBURG PINCUS PRIVATE EQUITY XII LPCUSIP: 9924JY990

WELLSPRING CAPITAL PARTNERS IVCUSIP: 991DHP992


657,602.100 657,602.10 70,193.00

1,140,848.890 1,140,848.89 671,180.00

1,425,000.000 1,425,000.00 1,288,354.00

3,645,866.650 3,645,866.65 3,821,161.00

2,889,110.010 2,889,110.01 4,648,307.00

10,204,475.000 10,204,475.00 13,617,258.00

171,386.060 171,386.06 1.00

4,253,594.000 4,253,594.00 6,279,602.00

4,884,507.000 4,884,507.00 5,613,972.00

2,359,281.970 2,359,281.97 17,638,851.00

8,458,981.360 8,458,981.36 24,565,605.00


31 DEC 18





Real Estate - Income Producing

United States - USD

United States - USD

Page 204 of 321



Total Partnership/Joint Venture Interests 457,889,454.94 380,803,394.85


Total Real Estate - Income Producing 30,332,225.39 67,715,289.00

WIND POINT PARTNERS VICUSIP: 991DHY993

5AM PARTNERS II LLCCUSIP: 991DAJ993

5AM VENTURE PARTNERS V LPCUSIP: 992BA0997

5AM VENTURES IIICUSIP: 991DAK990

5AM VENTURES IV LPCUSIP: 991NM2995

L&B - THE FORUMCUSIP: 991LRT995

L&B CYPRESSWOOD PLACE LLCCUSIP: 991DLZ995

L&B SENIOR CARE STRATEGIES- PLANOCUSIP: 991PMF991

L&B SENIOR CARE STRATEGIES- SOUTHLAKE LLCCUSIP: 991M51998

L&B 5500 PRESTON RD INCCUSIP: 991DMH994

ONE BISCAYNE TOWER LLCCUSIP: 991DMK997


20,757,371.870 226,506,572.16 250,230,034.86

181,091.910 1,499,029.33 1,360,436.31

10,928,005.952 109,944,517.48 118,864,008.16

77,921,808.930 119,797,874.23 137,737,628.42

0.010 0.00 0.20

770,071.160 7,700,784.82 10,617,168.22

0.010 0.01 0.15

7,022,822.052 99,885,642.11 118,836,627.17

6,567,733.080 89,156,075.86 88,633,547.94

3,191,276.240 31,912,762.40 32,575,395.81

0.010 0.01 0.14

257,945.530 2,432,034.56 1,580,646.62

3,266,048.130 34,787,804.52 68,546,034.89

7,168,655.197 82,340,990.00 77,829,809.90

137,711.790 1,657,210.07 1,679,771.37

4,344,580.610 79,854,220.67 88,252,043.78

523,422.970 11,296,388.07 11,362,633.33

0.010 0.01 0.13


31 DEC 18




Value of Interest in Master TrustsUnited States - USD

Page 205 of 321


MFO DOW CHEM ABSOLUTE RETURN UNIT 12CUSIP: 787992627

MFO DOW CHEM EMERGING MRKT (PASSIVE) UNIT 11CUSIP: 787995570

MFO DOW CHEM EMERGING MRKT EQTY UNIT 10CUSIP: 787992197

MFO DOW CHEM OPPORTUN FI UNIT 13CUSIP: 787992635

MFO DOW CHEM REAL ESTATE NON-CORE UNIT 17CUSIP: 787992593

MFO DOW CHEM REAL ESTATE REIT UNIT 18CUSIP: 787992601

MFO DOW CHEMICAL CONVERTIBLES UNIT 3CUSIP: 787992239

MFO DOW CHEMICAL GLOBAL EQUITY UNIT 9CUSIP: 787992312

MFO DOW CHEMICAL INT'L DEVELOPED EQUITY UNIT 8CUSIP: 787992304

MFO DOW CHEMICAL INT'L DEVELOPED SMALL CAP EQUITY UNIT 23CUSIP: 14399D713

MFO DOW CHEMICAL LEGACY RH INFRASTRUCTURE UNIT15 CUSIP: 787992338

MFO DOW CHEMICAL REAL ASSETS & INFRASTRUCTUREPUBLIC UNIT 19 CUSIP: 787992122

MFO DOW CHEMICAL REAL ESTATE CORE OE FUNDS UNIT 16CUSIP: 787992585

MFO DOW CHEMICAL REINSURANCE UNIT 22CUSIP: 01299B129

MFO DOW CHEMICAL TACTICAL FIXED INCOME UNIT 1CUSIP: 787992213

MFO DOW CHEMICAL US LARGE CAP EQUITY UNIT 4CUSIP: 787992247

MFO DOW CHEMICAL US LCE (PASSIVE) UNIT 5CUSIP: 787992254

MFO DOW CHEMICAL US LONG GOV/CREDIT FI UNIT 2CUSIP: 787992205


6,921,946.397 76,617,780.95 126,457,114.88

340,000.000 339,398.20 343,425.16

50,000.000 87,059.00 76,878.50

410,000.000 416,508.90 412,045.90

335,000.000 332,129.05 313,250.46

220,000.000 302,192.00 258,044.60

340,000.000 339,316.60 334,162.20

650,000.000 648,082.50 633,339.85

180,000.000 269,317.09 249,760.26

330,000.000 326,607.60 320,893.65

290,000.000 397,062.10 345,169.60

250,000.000 247,915.00 227,905.50


31 DEC 18




Value of Interest in Master Trusts

Other

United States - USD

Canada - USD

Indonesia - USD

Page 206 of 321


Total United States - USD 975,389,687.26 1,134,562,902.28

Total Value of Interest in Master Trusts 975,389,687.26 1,134,562,902.28

Total Canada - USD 3,457,673.04 3,286,970.18

Total Indonesia - USD 247,915.00 227,905.50

MFO DOW CHEMICAL US SM/MID CAP EQUITY UNIT 6CUSIP: 787992262

ALBERTA PROV CDA BD 3.3% DUE 03-15-2028 REGCUSIP: 013051EA1

HYDRO-QUEBEC DEB SER HK DTD 04/15/1990 9.375% DUE04-15-2030 BEO SEDOL: 2447382

MAN PROV CDA DEB 3.05 DUE 05-14-2024 REGCUSIP: 563469UD5

MANITOBA PROV CDA DEB SER GM 2.125% DUE 06-22-2026 REGCUSIP: 563469UL7

NOVA SCOTIA PROV CDA 8.75% DUE 04-01-2022 BEOCUSIP: 669827DM6

PROV OF NEW BRUNSWIC PRV 2.5% DUE 12-12-2022 BEOSEDOL: BFB3VS7

PVTPL PPIB CAP INC C 2.75% 11-02-2027CUSIP: 22411VAD0

QUEBEC PROV CDA PROVINCE DE QUEBEC GLOBAL NOTE 7.5%DUE 09-15-2029 BEO CUSIP: 748148QR7

QUEBEC PROV CDA 2.75% DUE 04-12-2027 BEOCUSIP: 748149AN1

QUEBEC(PROV OF) 7.125% 02-09-2024SEDOL: B4WJFV8

REPUBLIC OF INDONESIA 4.35% DUE 01-11-2048 REGCUSIP: 455780CE4


310,000.000 306,980.60 308,246.64

500,000.000 498,620.00 452,500.00

200,000.000 169,300.00 177,100.00

250,000.000 247,787.50 239,375.00

100.000 1.00 41,948.00

120,000.000 165,501.60 170,899.20

50,000.000 60,300.00 59,790.00

80,000.000 114,408.30 117,239.20

140,000.000 192,631.30 222,483.80

160,000.000 175,564.40 198,560.00

250,000.000 359,359.00 340,245.00

60,000.000 87,560.30 87,178.20

1,225,000.000 1,739,683.90 1,691,100.25


31 DEC 18




OtherKuwait - USD

Mexico - USD


United States - USD

Page 207 of 321


Total Kuwait - USD 306,980.60 308,246.64

Total Mexico - USD 667,920.00 629,600.00


KUWAIT ST NT 144A 3.5% DUE 03-20-2027 BEOCUSIP: 501499AB3

PETROLEOS MEXICANOS 3.5% 01-30-2023CUSIP: 71654QBG6

UNITED MEXICAN STS 4.6% DUE 01-23-2046CUSIP: 91086QBF4

PVPTL ABU DHABI GOVT INT'L 4.125% 10-11-2047CUSIP: 29135LAB6

&&& CARDIAC ASSIST HOLDING DOWCUSIP: 000925024

ALAMEDA CNTY CALIF JT PWRS AUTH LEASE REV 7.046%12-01-2044 BEO TAXABLE SEDOL: BHT9SP7

ALAMEDA CORRIDOR TRANSN AUTH CAL REV TAXABLE SER C 6.6DUE 10-01-2029 BEO SEDOL: BGL2B92

AMERICAN MUN PWR OHIO INC REV 7.834% 02-15-2041 BEOTAXABLE SEDOL: B51JWV5

AMERICAN MUN PWR OHIO INC REV 8.084% 02-15-2050 BEOTAXABLE SEDOL: B52FJL1

AMERN MUN PWR OH INC REV 6.27 DUE 02-15-2050SEDOL: BZ1JY97

BAY AREA TOLL AUTH CALIF TOLL BRDG REV 6.263 04-01-2049BEO SEDOL: B523F62

CALIFORNIA ST PUB WKS BRD LEASE REV 8.361% 10-01-2034BEO TAXABLE SEDOL: B57MCS5

CALIFORNIA ST TAXABLE-BUILD AMER BDS 7.35% DUE11-01-2039 REG TAXABLE SEDOL: B5BGSJ6


1,215,000.000 1,527,898.81 1,667,854.80

20,000.000 29,501.20 27,254.60

2,225,000.000 2,646,170.25 3,167,932.75

100,000.000 131,443.10 143,255.00

-450,000,000.000 -3,500,000.00 -6,645,523.50

-125,000,000.000 -500,000.00 -1,502,695.00

125,000,000.000 1,290,000.00 2,962,771.25

450,000,000.000 8,200,000.00 13,803,669.00

-450,000,000.000 -4,919,000.00 -8,008,722.00

-450,000,000.000 -3,307,000.00 -6,633,783.00

-215,000,000.000 -1,340,000.00 -2,584,635.40

215,000,000.000 2,480,000.00 4,382,701.90

450,000,000.000 6,882,000.00 12,369,775.50

450,000,000.000 9,867,000.00 15,009,025.50

4,694,679.530 4,694,679.53 4,694,679.53

130,000.000 163,090.20 166,073.70

40,000.000 47,327.23 48,084.40

100,000.000 118,512.00 121,439.00


31 DEC 18





Page 208 of 321


CALIFORNIA ST 7.3% 10-01-2039 BEO TAXABLESEDOL: B54BZ20

CALIFORNIA ST 7.5% 04-01-2034 BEO TAXABLESEDOL: B41WH12

CALIFORNIA ST 7.625% 03-01-2040 BEO TAXABLESEDOL: B52J623

CALIFORNIA STATE 7.55 MUN BDS DUE 04-01-2039 USD5000SEDOL: B41WHL2

CALL SWO USD CITIUS33 P 3MLIBOR / R 2.6% European 10276309/18/2019 SEDOL: 9J2CPNU

CALL SWO USD CITIUS33 P 3MLIBOR / R 2.75% European 10273203/20/2019 SEDOL: 9J2CPHU

CALL SWO USD CITIUS33 P 3MLIBOR / R 2.95% European 10273003/20/2019 SEDOL: 9J2CPKU

CALL SWO USD CITIUS33 P 3MLIBOR / R 2.95% European 10285409/18/2019 SEDOL: 9J2CPGU

CALL SWO USD MSCSUS33 P 3MLIBOR / R 2.6% European 10226112/18/2019 SEDOL: 9J26PHU

CALL SWO USD MSCSUS33 P 3MLIBOR / R 2.7% European 10225806/19/2019 SEDOL: 9J24B5U

CALL SWO USD MSCSUS33 P 3MLIBOR / R 2.75% European 10256103/20/2019 SEDOL: 9J29KYU

CALL SWO USD MSCSUS33 P 3MLIBOR / R 2.9% European 10256303/20/2019 SEDOL: 9J29KWU

CALL SWO USD MSCSUS33 P 3MLIBOR / R 2.95% European 10226006/19/2019 SEDOL: 9J26NZU

CALL SWO USD MSCSUS33 P 3MLIBOR / R 2.95% European 10226312/18/2019 SEDOL: 9J26PJU

CCP DUE TO/FROM MORGAN STANLEYSEDOL: 9AYQMLU

CHGO ILL TRAN AUTH SALES & TRANSFER T 6.899 DUE12-01-2040 REG SEDOL: B3CDB04

CHICAGO ILL MET WTR RECLAMATION DIST GTRCHICAGO 5.72%12-01-2038 BEO TAXABLE SEDOL: B44DFZ2

CHICAGO ILL TRAN AUTH SALES TAX RCPTS REV 6.2% 12-01-2040BEO TAXABLE SEDOL: B58NYY7


40,000.000 35,698.40 35,459.60

12,070,000.000 0.00 0.00

-12,070,000.000 0.00 -1,093,855.70

80,000.000 97,136.80 91,528.00

1,000,000.000 1,000,000.00 999,040.00

30,000.000 30,709.80 33,177.00

490.220 490.22 490.22

1,959.800 0.00 1,604,526.02

1,439.000 0.00 0.00

2,659.528 0.00 672,430.41

1,989.795 0.00 0.00

2,090.714 0.00 424,112.25

2,824.349 0.00 0.00

390,000.000 1,234,662.00 583,257.76

-390,000.000 -499,161.00 -167,626.91

900,000.000 2,700,000.00 1,928,582.04

-900,000.000 -990,000.00 -515,681.66

-390,000.000 -702,741.00 -847,650.71


31 DEC 18





Page 209 of 321


CHICAGO ILL 5.432% 01-01-2042 BEO TAXABLESEDOL: BYYWTX5

CME_IRS CME_MSCSUS USD P 3M LIBOR/R 2.39% 23 JAN 2045IR208346 SEDOL: 9D6JX7U

CME_IRS CME_MSCSUS USD P 3M LIBOR/R 2.39% 23 JAN 2045IR208346 SEDOL: 9D6JX7L

CONNECTICUT ST 5.85% 03-15-2032 BEO TAXABLESEDOL: B2R0JK9

DENVER COLO PUB SCHS CTFS PARTN REF-TAXABLE-SER B2.798 DUE 12-15-22 SEDOL: BGNX5G8

DISTRICT COLUMBIA WTR & SWR AUTH PUB UTITAXABLE-SR LIEN-SERA 4.814 10-01-2114 SEDOL: BHPZGK0

DOW CHEMICAL-CUSTOM FUNDCUSIP: 2609999A7

EIS CITIUS33 03/28/2019 USD STANDARD & PO/3M LIBOR 90184SEDOL: 9GXQAPU

EIS CITIUS33 03/28/2019 USD 3M LIBOR/S&P 500 EQUAL 90185SEDOL: 9GXQAQU

EIS CITIUS33 08/23/2019 USD STANDARD & PO/3M LIBOR 95275SEDOL: 9H8VNGU

EIS CITIUS33 08/23/2019 USD 3M LIBOR/S&P 500 EQUAL 95277SEDOL: 9H8VNFU

EIS MSCSUS33 03/21/2019 USD 3M LIBOR/S&P 500 EQUAL 90013SEDOL: 9G9XHXU

EIS MSCSUS33 03/21/2019 USD 3M LIBOR/STANDARD & PO 90028SEDOL: 9G9XHUU

EQ C OP MSCSUS33 61.7 05-17-2019 97764SEDOL: 9HZ8QNU

EQ C OP MSCSUS33 65.5 05-17-2019 97765SEDOL: 9HZ8QPU

EQ C OP SOGEUS33 60.25 06-21-2019 103161SEDOL: 9J2HWDU

EQ C OP SOGEUS33 65 06-21-2019 103162SEDOL: 9J2HVZU

EQ P OP MSCSUS33 58 05-17-2019 97766SEDOL: 9HZ4CDU


-900,000.000 -1,855,620.00 -1,870,034.63

23,000.000 3,220,000.00 2,391,362.03

-23,000.000 -1,794,000.00 -1,073,857.42

-23,000.000 -2,047,000.00 -2,496,087.15

11,000,000.000 0.00 0.00

14,000,000.000 0.00 0.00

945,000.000 912,038.40 936,258.75

-172.000 -41,757,776.76 -41,860,500.00

172.000 41,757,776.76 41,860,500.00

-14.000 -3,395,047.68 -3,413,550.00

14.000 3,395,047.68 3,413,550.00

8.000 1,960,000.00 1,946,300.00

-8.000 -1,960,000.00 -1,946,300.00

106.000 16,182,473.08 17,029,562.50

-106.000 -16,182,473.08 -17,029,562.50

-98.000 -12,290,343.75 -12,747,656.25

98.000 12,290,343.75 12,747,656.25

-346.000 -39,017,273.60 -39,681,875.00


31 DEC 18





Page 210 of 321


EQ P OP SOGEUS33 56 06-21-2019 103163SEDOL: 9J2HWCU

EQX C OP SOGEUS33 2575 06-21-2019 103164SEDOL: 9J2HVYU

EQX C OP SOGEUS33 2725 06-21-2019 103165SEDOL: 9J2HWEU

EQX P OP SOGEUS33 2425 06-21-2019 103166SEDOL: 9J2HVWU

EX RET SWP USD SOGEUS33 05-15-2019 103196SEDOL: 9J2LUXU

EX RET SWP USD ZERO 0.0%/ GOLDUS33 05-15-2019 103195SEDOL: 9J2LUVU

FAIRFAX CNTY VA WTR AUTH WTR REV 2.875% 04-01-2025 BEOTAXABLE SEDOL: BJ0Y1Z6













346.000 39,017,273.60 39,681,875.00

-612.000 -85,324,406.67 -89,352,000.00

612.000 85,324,406.67 89,352,000.00

220.000 46,390,771.04 46,708,750.00

-220.000 -46,390,771.04 -46,708,750.00

-20.000 -2,319,512.48 -2,440,312.51

20.000 2,319,512.48 2,440,312.51

40,000.000 40,674.62 46,977.60

3,000.000 0.00 0.00

540,000.000 781,849.80 776,294.28

500,000.000 640,704.05 634,679.00

80,000.000 80,000.00 85,378.40

-1,400,000.000 0.00 0.00

1,400,000.000 0.00 62,231.19

-3,500,000.000 0.00 0.00

3,500,000.000 0.00 518,483.07

-1,500,000.000 0.00 0.00

1,500,000.000 0.00 37,658.16


31 DEC 18





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GRAND PARKWAY TRANSN CORP TEX SYS TOLL REV 5.184%10-01-2042 BEO TAXABLE SEDOL: BCFKLB6

GREENSTONE VENTURE LTD PHYSICAL ASSOCIATEDCUSIP: 000783381

HYDRO-QUEBEC DEB SER HE 8.625% DUE 06-15-2029 REGSEDOL: 2451480

ISRAEL(STATE OF) AID-ISRAEL 5.5% DUE 09-18-2033 REGCUSIP: 46513EFG2

JOBSOHIO BEVERAGE SYS OHIO STATEWIDE LIQUOR PROFITS REV4.532% 01-01-2035 BEO SEDOL: B9HL525

LCH_IRS LCH_MSCSUS USD P 1.81%/R 3M LIBOR 03 FEB 2025IR208377 SEDOL: 9D32TEL

LCH_IRS LCH_MSCSUS USD P 1.81%/R 3M LIBOR 03 FEB 2025IR208377 SEDOL: 9D32TEU

LCH_IRS LCH_MSCSUS USD P 1.97%/R 3M LIBOR 06/13/2041IR209464 SEDOL: 9E6GXLL

LCH_IRS LCH_MSCSUS USD P 1.97%/R 3M LIBOR 06/13/2041IR209464 SEDOL: 9E6GXLU

LCH_IRS LCH_MSCSUS USD P 2.07%/R 3M LIBOR 20 MAR 2024IR208169 SEDOL: 9D4CDQL

LCH_IRS LCH_MSCSUS USD P 2.07%/R 3M LIBOR 20 MAR 2024IR208169 SEDOL: 9D4CDQU


-900,000.000 0.00 0.00

900,000.000 0.00 30,469.52

-400,000.000 0.00 0.00

400,000.000 0.00 21,995.83

1,290,000.000 6,880.99 0.00

-1,290,000.000 0.00 -10,402.46

550,000.000 0.00 4,455.02

-550,000.000 0.00 0.00

-1,200,000.000 -2,590.72 -28,517.69

1,200,000.000 0.00 0.00

390,000.000 0.00 0.00

-390,000.000 -1,451.55 -13,143.88

7,890,000.000 0.00 0.00

-7,890,000.000 0.00 -269,255.56

5,000,000.000 201,690.00 0.00

-5,000,000.000 0.00 -74,925.65

-1,300,000.000 0.00 -42,744.83

1,300,000.000 0.00 0.00


31 DEC 18





Page 212 of 321


LCH_IRS LCH_MSCSUS USD P 2.4%/R 3M LIBOR 25 FEB 2030IR208245 SEDOL: 9D3K83L

LCH_IRS LCH_MSCSUS USD P 2.4%/R 3M LIBOR 25 FEB 2030IR208245 SEDOL: 9D3K83U

LCH_IRS LCH_MSCSUS USD P 2.5%/R 3M LIBOR 18 MAR 2040IR208311 SEDOL: 9D48VZL

LCH_IRS LCH_MSCSUS USD P 2.5%/R 3M LIBOR 18 MAR 2040IR208311 SEDOL: 9D48VZU

LCH_IRS LCH_MSCSUS USD P 2.75%/R 3M LIBOR 03/20/2026IR212455 SEDOL: 9J27ZXU

LCH_IRS LCH_MSCSUS USD P 2.75%/R 3M LIBOR 03/20/2026IR212455 SEDOL: 9J27ZXL

LCH_IRS LCH_MSCSUS USD P 2.8%/R 3M LIBOR 27 JUL 2045IR208180 SEDOL: 9D8HDXU

LCH_IRS LCH_MSCSUS USD P 2.8%/R 3M LIBOR 27 JUL 2045IR208180 SEDOL: 9D8HDXL

LCH_IRS LCH_MSCSUS USD P 3.0%/R 3M LIBOR 03/20/2034IR212453 SEDOL: 9J27A2L

LCH_IRS LCH_MSCSUS USD P 3.0%/R 3M LIBOR 03/20/2034IR212453 SEDOL: 9J27A2U

LCH_IRS LCH_MSCSUS USD P 3.0%/R 3M LIBOR 03/20/2049IR212451 SEDOL: 9J27ZWU

LCH_IRS LCH_MSCSUS USD P 3.0%/R 3M LIBOR 03/20/2049IR212451 SEDOL: 9J27ZWL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 1.99% 23 JAN 2025IR208262 SEDOL: 9D2JHYU

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 1.99% 23 JAN 2025IR208262 SEDOL: 9D2JHYL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.0% 06/15/2021IR209104 SEDOL: 9E6GYJU

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.0% 06/15/2021IR209104 SEDOL: 9E6GYJL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.02% 10 FEB 2025IR208435 SEDOL: 9D38AFL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.02% 10 FEB 2025IR208435 SEDOL: 9D38AFU


1,000,000.000 0.00 0.00

-1,000,000.000 0.00 -27,307.73

2,600,000.000 172,205.80 0.00

-2,600,000.000 0.00 -68,700.19

12,400,000.000 0.00 0.00

-12,400,000.000 0.00 -845,401.37

795,000.000 0.00 0.00

-795,000.000 0.00 -44,806.06

520,000.000 0.00 0.00

-520,000.000 0.00 -37,355.83

600,000.000 62,100.00 0.00

-600,000.000 0.00 -27,354.62

800,000.000 95,340.00 0.00

-800,000.000 0.00 -53,548.90

-3,640,000.000 -10,559.64 0.00

3,640,000.000 0.00 19,044.19

-100,000,000.000 0.00 0.00

100,000,000.000 0.00 2,045,175.00


31 DEC 18





Page 213 of 321


LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.13% 03 MAR 2025IR208263 SEDOL: 9D3Q71U

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.13% 03 MAR 2025IR208263 SEDOL: 9D3Q71L

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.25% 06/15/2026IR209119 SEDOL: 9E6GYUU

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.25% 06/15/2026IR209119 SEDOL: 9E6GYUL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.3% 23 JAN 2035IR208170 SEDOL: 9D2JJAU

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.3% 23 JAN 2035IR208170 SEDOL: 9D2JJAL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.39% 30 APR 2035IR208242 SEDOL: 9D5VMMU

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.39% 30 APR 2035IR208242 SEDOL: 9D5VMML

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.4% 09 APR 2040IR208254 SEDOL: 9D5227U

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.4% 09 APR 2040IR208254 SEDOL: 9D5227L

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.5% 06/15/2036IR209121 SEDOL: 9E6GYKU

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.5% 06/15/2036IR209121 SEDOL: 9E6GYKL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.5% 06/15/2046IR209122 SEDOL: 9E6GYEU

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.5% 06/15/2046IR209122 SEDOL: 9E6GYEL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.75% 03/20/2022IR212458 SEDOL: 9J27B8L

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.75% 03/20/2022IR212458 SEDOL: 9J27B8U

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.97% 12/20/2029 102858SEDOL: 9J2CLHL

LCH_IRS LCH_MSCSUS USD P 3M LIBOR/R 2.97% 12/20/2029 102858SEDOL: 9J2CLHU


300,000.000 2,568.00 7,447.75

-300,000.000 0.00 0.00

-200,000.000 -70.66 0.00

200,000.000 0.00 5,072.92

130,000.000 179,268.70 178,622.60

10,000.000 15,240.60 14,458.70

45,000.000 51,348.30 62,398.35

100,000.000 97,823.00 121,353.00

30,000.000 43,678.50 43,816.50

110,000.000 112,201.27 134,697.20

150,000.000 152,010.98 182,952.00

60,000.000 79,357.80 73,842.60

100,000.000 100,000.00 94,410.00

20,000.000 29,091.20 27,321.40

2,200,000.000 2,200,000.00 2,666,246.00

1,245,000.000 1,245,000.00 1,459,837.20

85,000.000 84,575.00 86,632.85

1,190,000.000 1,176,838.60 1,362,645.20


31 DEC 18





Page 214 of 321






LOS ANGELES CALIF CMNTY COLLEGE DIST 6.6% 08-01-2042 BEOTAXABLE SEDOL: B4RDT46

LOS ANGELES CALIF CMNTY COLLEGE DIST 6.75% 08-01-2049BEO TAXABLE SEDOL: B4LSB85

LOS ANGELES CALIF DEPT WTR & PWR REV 6.574% 07-01-2045BEO TAXABLE SEDOL: B42HW33

LOS ANGELES CALIF DEPT WTR & PWR WTRWKS REV 6.008%07-01-2039 BEO TAXABLE SEDOL: B4XQLP4

LOS ANGELES CNTY CALIF PUB WKS FING AUTHLEASE REV 7.618%08-01-2040 BEO TAXABLE SEDOL: B4LZW83

MA ST SCH BLDG AUTH DEDICATED TAX BUILD AMER BDS-B 5.715DUE 08-15-2039 SEDOL: B5326D2

MASSACHUSETTS ST TRANSN FD REV 5.731% 06-01-2040 BEOTAXABLE SEDOL: B56YM37

METROPOLITAN TRANSN AUTH N Y DEDICATED TAX FD 6.089%11-15-2040 BEO TAXABLE SEDOL: B4QSHD7

MISSOURI ST HEALTH & EDL FACS AUTH EDL FACS REV 3.652%08-15-2057 BEO TAXABLE CUSIP: 60636APP2

NEW JERSEY ST TPK AUTH TPK REV 7.102% 01-01-2041 BEOTAXABLE SEDOL: B4WN3T4

NEW YORK N Y CITY MUN WTR FIN AUTH WTR &SWR SYS REV 5.44%06-15-2043 BEO TAXABLE SEDOL: B3L4RJ9

NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5.572%11-01-2038 BEO TAXABLE SEDOL: B56SPB8

NEW YORK ST DORM AUTH REVS NON ST -4.946% 08-01-2048 OID4.978 @99.5 SEDOL: BFYY4X3

NEW YORK ST DORM AUTH ST PERS INCOME TAXREV 5.5% 03-15-2030BEO TAXABLE SEDOL: B5W07M3


845,000.000 845,000.00 1,083,501.25

80,000.000 105,850.40 103,257.60

180,000.000 194,947.20 197,177.40

70,000.000 80,704.81 79,685.20

15,340,000.000 15,340,000.00 15,340,000.00

3,690,000.000 3,690,000.00 3,690,000.00

840,000.000 840,000.00 840,000.00

70,000.000 70,061.48 71,218.70

110,000.000 118,864.07 119,446.80

150,000.000 176,601.00 182,682.00

-125,000,000.000 -500,000.00 -154,933.75

-450,000,000.000 -3,800,000.00 -2,202,030.00

-215,000,000.000 -1,230,000.00 -451,482.80

-450,000,000.000 -2,972,000.00 -1,331,545.50

-450,000,000.000 -4,869,000.00 -2,941,789.50

70,000.000 70,000.00 63,237.30

60,000.000 60,000.00 59,796.00

2,945,000.000 3,167,322.95 3,345,254.95


31 DEC 18





Page 215 of 321


NY N Y CY MUN WTR FIN AUTH WTR 5.882 DUE06-15-2044 BEOTAXABLE MUNI SEDOL: B3TZ6C0

NY N Y CY MUN WTR FIN AUTH WTR&TAXABLE 2ND GENSER EE 6.0116-15-2042BEO TAXABLE SEDOL: B4NQPM9

OH ST UNIV GEN RCPTS TAXABLE-SER A 4.8 DUE 06-01-2111SEDOL: B5VY9Z3

OHIO UNIV GEN RCPTS ATHENS 5.59% 12-01-2114 BEOTAXABLE SEDOL: BJ7N929

OTC DER CASH COLL REC FROM MS CAPITAL SERVICESSEDOL: 9B45N5U

OTC DER CASH COLL REC FROM SOCIETE GENERALESEDOL: 9B3XGBU

OTC DERIVATIVE CASH COLLATERAL RECEIVABLE FROM USDGSAMUS33 SEDOL: 9A32GTU

PORT AUTH N Y & N J 4.458% 10-01-2062 BEO TAXABLESEDOL: B8FPQ52

PORT AUTH N Y & N J 4.81% 10-15-2065 BEOTAXABLESEDOL: BJ10175

PORT AUTH N Y & N J 5.647 ONE HUNDRED SIXTY(FIFTH)11-01-40 SEDOL: B3WV4Q5

PUT SWO USD CITIUS33 P 3.15% / R 3MLIBOR European 10273103/20/2019 SEDOL: 9J2CPFU

PUT SWO USD CITIUS33 P 3.3% / R 3MLIBOR European 10276209/18/2019 SEDOL: 9J2CPPU

PUT SWO USD MSCSUS33 P 3.05% / R 3MLIBOR European 10256203/20/2019 SEDOL: 9J29MTU

PUT SWO USD MSCSUS33 P 3.25% / R 3MLIBOR European 10225906/19/2019 SEDOL: 9J26PAU

PUT SWO USD MSCSUS33 P 3.35% / R 3MLIBOR European 10226212/18/2019 SEDOL: 9J26NYU

SALES TAX SECURITIZATION CORP ILL 3.587%01-01-2043 BEOTAXABLE CUSIP: 79467BAR6

SUMTER LANDING CMNTY DEV DIST FLA RECREATIONAL REV4.172% 10-01-2047 BEO SEDOL: BD0NJD5

TEXAS TRANSN COMMN ST HWY FD REV 5.178% 04-01-2030 BEOTAXABLE SEDOL: B52BMP4


1,000,000.000 979,560.00 991,940.00

60,000.000 60,000.00 60,215.40

200,000.000 200,258.60 205,636.00

30,000.000 31,342.50 31,491.60

90,000.000 90,000.00 81,520.20

90,000.000 90,000.00 87,610.50

1,275,000.000 1,405,011.75 1,436,823.00

1,500,000.000 1,412,880.00 1,440,570.00

0.000 0.00 0.00

0.000 0.00 0.00

0.000 0.00 0.00

0.000 0.00 0.000.000 0.00 0.00

0.000 0.00 0.00

0.000 0.00 0.00

0.000 0.00 0.00

0.000 0.00 0.00

0.000 0.00 0.00


31 DEC 18





Page 216 of 321



Total - all currencies 0.00 0.00

Total Other 56,970,301.28 74,136,542.01

UNIVERSITY CALIF REVS 2.3% 05-15-2021 BEO TAXABLESEDOL: BZ04CJ9

UNIVERSITY CALIF REVS 4.131% 05-15-2045 BEO TAXABLESEDOL: BWDP715

UNIVERSITY CALIF REVS 4.767% 05-15-2115 BEO TAXABLESEDOL: BYSZTY1

UNIVERSITY CALIF REVS 4.858% 05-15-2112 BEO TAXABLESEDOL: B7MQN72

UNIVERSITY TEX PERM UNIV FD 3.376% 07-01-2047 BEOTAXABLE SEDOL: BZ7MMZ2

UNIVERSITY VA UNIV REVS 4.179% 09-01-2117 BEOTAXABLE SEDOL: BJN9P56

VIRGINIA ST PUB BLDG AUTH PUB FACS REV 5.25% 08-01-2025BEO TAXABLE SEDOL: BJ16Q90

WISCONSIN ST GEN FD ANNUAL APPROPRIATIONREV 2.049%05-01-2023 BEO TAXABLE SEDOL: BHS84H9

AUD - Australian dollar


CHF - Swiss franc

DKK - Danish krone

EUR - Euro

IDR - Indonesian rupiah

JPY - Japanese yen

PLN - Polish zloty

SEK - Swedish krona



-1,959.800 0.00 0.00-1,439.000 0.00 -1,602,222.06

-2,659.528 0.00 0.00

-1,989.795 0.00 -946,697.14

-2,090.714 0.00 0.00

-2,824.349 0.00 -501,450.79

-14,000,000.000 0.00 -962,938.90

-11,000,000.000 0.00 -716,086.14-4,580,000.000 -4,580,000.00 -4,580,000.00

-21,390,000.000 -21,390,000.00 -21,390,000.00

0.000 -1,870,481.42 -1,870,481.42

0.000 0.00 0.00

0.000 0.00 0.00


31 DEC 18




Other Liabilities

Payable Other

United States - USD

United States - USD

Page 217 of 321


Total United States - USD -25,970,000.00 -30,699,395.03

Total - all currencies -1,870,481.42 -1,870,481.42

Total Other Liabilities -27,840,481.42 -32,569,876.45

Total United States - USD 0.00 0.00

Total Payable Other 0.00 0.00

Total 2,874,136,911.27 2,995,886,232.13





EIS MSCSUS33 03/21/2019 USD 3M LIBOR/S&P 500 EQUAL 90013

EIS MSCSUS33 03/21/2019 USD 3M LIBOR/STANDARD & PO 90028

EX RET SWP 05-15-2019 103195

EX RET SWP 05-15-2019 103196

OTC DERIVATIVE CASH COLL PAY TO CITIBANK

OTC DERIVATIVE CASH COLLATERAL PAYABLE TO MORGAN STANLEY

Pending trade purchases: United States dollar

INVESTMENT MANAGEMENT EXPENSE ACCRUALSEDOL: 3879785

TRUST/CUSTODY EXPENSE ACCRUALCUSIP: 999899511



Schedule SB, Line 32 Schedule of Amortization Bases

as of January 1, 2018

Type of Base Date

Established

Remaining Amortization Period

(Years) Outstanding Balance Amortization Payments 1 Shortfall 01/01/2018 7 294,381,010 48,057,655 Total 294,381,010 48,057,655

Documents

Form 5500 Annual Return/Report of Employee Benefit Plan · 2020. 6. 3. · For Paperwork Reduction Act Notice, see the Instructions for Form 5500. Schedule A (Form 5500) 2018 v. 171027