<SEC-DOCUMENT>0001193125-19-212871.txt : 20190805
<SEC-HEADER>0001193125-19-212871.hdr.sgml : 20190805
<ACCEPTANCE-DATETIME>20190805143807
ACCESSION NUMBER:		0001193125-19-212871
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		10
CONFORMED PERIOD OF REPORT:	20190531
FILED AS OF DATE:		20190805
DATE AS OF CHANGE:		20190805
EFFECTIVENESS DATE:		20190805

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VIRTUS GLOBAL DIVIDEND & INCOME FUND INC.
		CENTRAL INDEX KEY:			0000836412
		IRS NUMBER:				133474242
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05620
		FILM NUMBER:		19998332

	BUSINESS ADDRESS:	
		STREET 1:		101 MUNSON STREET
		CITY:			GREENFIELD
		STATE:			MA
		ZIP:			01301
		BUSINESS PHONE:		800-272-2700

	MAIL ADDRESS:	
		STREET 1:		101 MUNSON STREET
		CITY:			GREENFIELD
		STATE:			MA
		ZIP:			01301

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VIRTUS GLOBAL DIVIDEND & INCOME FUND
		DATE OF NAME CHANGE:	20160929

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZWEIG TOTAL RETURN FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>d690452dncsrs.htm
<DESCRIPTION>VIRTUS GLOBAL DIVIDEND & INCOME FUND INC
<TEXT>
<HTML><HEAD>
<TITLE>VIRTUS GLOBAL DIVIDEND &amp;amp; INCOME FUND INC</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">UNITED STATES </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">SECURITIES AND EXCHANGE COMMISSION </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">Washington, D.C. 20549 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">N-CSR</FONT> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">Investment Company Act file
number<U><FONT STYLE="white-space:nowrap">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811-05620&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtus Global Dividend&nbsp;&amp; Income Fund
Inc.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">(Exact name of registrant as specified in charter) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">101 Munson Street </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;Greenfield, MA 01301-9668&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;&nbsp; </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">(Address of principal executive offices) (Zip code) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">William Renahan, Esq. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">Vice
President, Chief Legal Officer and Secretary for Registrant </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">One Financial Plaza </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hartford, CT
06103&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">(Name and address of agent for service) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">Registrant&#146;s telephone number, including area code:
<U><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">866-270-7788</FONT></FONT></U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">Date of fiscal year end:<U>
&nbsp;&nbsp;November</U><U></U><U>&nbsp;30 </U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">Date of reporting period:<U> &nbsp;&nbsp;May</U><U></U><U>&nbsp;31, 2019</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> is to be used by management investment companies to file reports with the Commission not
later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule <FONT STYLE="white-space:nowrap">30e-1</FONT> under the Investment Company Act of 1940 (17 CFR <FONT
STYLE="white-space:nowrap">270.30e-1).</FONT> The Commission may use the information provided on Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> in its regulatory, disclosure review, inspection, and policymaking roles. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">A registrant is required to disclose the information specified by Form <FONT STYLE="white-space:nowrap">N-CSR,</FONT> and the Commission will
make this information public. A registrant is not required to respond to the collection of information contained in Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> unless the Form displays a currently valid Office of Management and Budget
(&#147;OMB&#148;) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW,
Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. &#167; 3507. </P>

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<TD WIDTH="7%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>Reports to Stockholders. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The Report to Shareholders is attached herewith. </P>

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  <DIV style="width:100%;"> <DIV style="float:right;overflow:hidden;position:relative;width:44.33%;" type="Block"> <DIV style="margin-top:0pt;text-align:Right;width:100%;">
<IMG src="g690452img19966d321.gif"> </DIV> </DIV> <DIV style="clear:both;"> <DIV style="clear:both;width:81.70%;" type="Block">
<DIV style="clear:both;color:#000000;font-family:Arial;font-size:11pt;font-style:Normal;font-weight:Normal;line-height:14pt;text-align:left;text-decoration:none;text-transform:none;">SEMIANNUAL REPORT</DIV> </DIV> </DIV>
<DIV style="overflow:hidden;width:100%;" type="Block"> <HR noshade="noshade" style="background-color:#000000;height:1pt;"> </DIV> <DIV style="margin-top:18pt;width:81.70%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;margin-top:18pt;text-align:left;text-decoration:none;text-transform:none;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:112pt;width:90.46%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:16pt;font-style:Normal;font-weight:Normal;line-height:19pt;margin-top:6pt;text-align:center;text-decoration:none;text-transform:none;">Virtus Global Dividend &amp; Income Fund Inc.</DIV> </DIV>
<DIV style="margin-top:143pt;width:90.46%;" type="Block"> <HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:0.5pt solid #000000;height:0.5pt;width:100%;" align="Left">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:10pt;text-align:justify;text-decoration:none;text-transform:none;">Beginning on January 1, 2021, as permitted by regulations
adopted by the Securities and Exchange Commission, paper copies of the Fund&#8217;s shareholder reports like this one will no longer be sent by mail, unless specifically requested from the Fund or from your financial intermediary, such as a
broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:6pt;text-align:justify;text-decoration:none;text-transform:none;">You may elect at any time to receive not only shareholder
reports but also certain other communications from the Fund electronically, or you may elect to receive paper copies of all future shareholder reports free of charge to you. If you own your shares directly with the Fund, you may make such elections
by calling the Fund at 1-800-270-7788 or, with respect to requesting electronic delivery, by visiting www.virtus.com. If you own your shares through a financial intermediary, please contact your financial intermediary to make your request and to
determine whether your election will apply to all funds in which you own shares through that intermediary.</DIV> </DIV> <DIV style="margin-top:2pt;overflow:hidden;width:100%;" type="Block">
<HR noshade="noshade" style="background-color:#000000;height:1pt;"> </DIV> <DIV style="margin-top:24pt;width:90.46%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:24pt;text-align:center;text-decoration:none;text-transform:none;">Not FDIC Insured &#8226; No Bank Guarantee &#8226; May Lose
Value</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
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<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">FUND DISTRIBUTIONS AND MANAGED DISTRIBUTION PLAN</DIV> </DIV>
<DIV style="margin-top:26pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">The
Board of Directors (the &#8220;Board,&#8221; or the &#8220;Directors&#8221;) of Virtus Global Dividend &amp; Income Fund Inc. (the &#8220;Fund&#8221;) adopted a Managed Distribution Plan (the &#8220;Plan&#8221;) which currently provides for the Fund
to make a monthly distribution rate of $0.113 per share. Under the terms of the Plan, the Fund seeks to maintain a consistent distribution level that may be paid in part or in full from net investment income, realized capital gains, and a return of
capital, or a combination thereof.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">If the Fund estimates
that it has distributed more than its income and capital gains in a particular period, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund
is paid back to you. A return of capital distribution does not necessarily reflect the Fund&#8217;s investment performance and should not be confused with &#8220;yield&#8221; or &#8220;income.&#8221;</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">To the extent that the Fund uses capital gains and/or return of
capital to supplement its investment income, you should not draw any conclusions about the Fund&#8217;s investment performance from the amount of the Fund&#8217;s distributions or from the terms of the Fund&#8217;s Managed Distribution Plan.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">The amounts and sources of distributions reported in Section
19(a) notices of the Investment Company Act of 1940 are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund&#8217;s investment
experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send shareholders a Form 1099-DIV for the calendar year that will tell you how to report distributions for federal income tax
purposes.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">The Board may amend, suspend or terminate the
Managed Distribution Plan at any time, without prior notice to shareholders, if it deems such action to be in the best interest of the Fund and its shareholders.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">Information on the Fund is available through the closed-end
fund section on the web at<BR> www.Virtus.com. Section 19(a) notices are posted on the website at:<BR> <FONT style="font-style:italic;">https://www.virtus.com/our-products/closed-end-fund-details/ZTR.</FONT></DIV> </DIV> </DIV>
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<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">MESSAGE TO SHAREHOLDERS</DIV> </DIV> <DIV style="width:94.33%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:3pt;text-align:left;text-decoration:none;text-transform:none;">Dear Virtus Global Dividend &amp; Income Fund Inc.
Shareholder:</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:6pt;padding-left:23.62%;text-align:left;text-decoration:none;text-transform:none;">Enclosed is the
semiannual report for Virtus Global Dividend &amp; Income Fund Inc. (ZTR) for the six months ended May 31, 2019.</DIV> <DIV style="margin-top:0pt;text-align:Left;width:68pt;">
<IMG src="g690452img66fe47ff2.gif"> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:21pt;padding-left:23.62%;text-align:left;text-decoration:none;text-transform:none;">This
report contains commentary from the portfolio management teams at Kayne Anderson Rudnick Investment Management and Newfleet Asset Management on how the fund&#8217;s equity and fixed income allocations performed during the period, respectively. The
report also includes commentary from the portfolio management team at Rampart Investment Management on the impact of the options overlay strategy on performance.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:3pt;padding-left:23.62%;text-align:left;text-decoration:none;text-transform:none;">During the period, the fund&#8217;s NAV
increased 2.93%, including $0.678 in reinvested distributions, and its market price increased 19.11%, compared with a 2.75% increase, including reinvested dividends, for the fund&#8217;s composite benchmark. The fund&#8217;s NAV return included a
(1.98)% impact from the options overlay strategy, gross of fees.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:3pt;text-align:left;text-decoration:none;text-transform:none;">The fund&#8217;s composite benchmark consists of 60% MSCI World
High Dividend Yield Index (net), which declined 0.24% during the period, and 40% Bloomberg Barclays U.S. Aggregate Bond Index, which increased 6.72%.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:3pt;text-align:left;text-decoration:none;text-transform:none;">It should be noted that the steep stock market drop in December
2018 was a drag on the fund&#8217;s performance during the period. However on a calendar year basis, for the period January 1 - June 30, 2019, net asset value increased 16.08%, while the benchmark index returned 13.75%, both including reinvested
distributions, and the fund&#8217;s market value increased 38.97%.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:3pt;text-align:left;text-decoration:none;text-transform:none;">This report also includes the results of the fund&#8217;s
annual shareholder meeting held on May 21, 2019. In addition, as announced on July 3, 2019, the Fund will hold a special meeting of shareholders on November 1, 2019. The purpose of the meeting is to vote on several proposals concerning the fund.
Additional information is contained in the &#8220;subsequent events&#8221; section of this report, as well as in the press release located on the fund&#8217;s webpage at virtus.com. Proxy materials relating to the special meeting will be mailed to
shareholders later this summer. Your vote is important and I hope you will carefully review the additional information herein. The members of the Board support these proposals.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:3pt;text-align:left;text-decoration:none;text-transform:none;">On behalf of Virtus Investment Partners and our affiliated
portfolio managers, I thank you for your investment. Should you have any questions or require support, the Virtus customer service team is ready to assist at 1-866-270-7788 or through the closed-end fund section of our website, <FONT
 style="color:#0000FF;text-decoration:underline;">www.virtus.com.</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:3pt;text-align:left;text-decoration:none;text-transform:none;">Sincerely,</DIV>
<DIV style="margin-top:3pt;text-align:Left;width:112pt;">
<IMG src="g690452img6f75d60e3.jpg"> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:2pt;text-align:left;text-decoration:none;text-transform:none;">George R. Aylward<BR>
President, Chief Executive Officer, and Director<BR> Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:2pt;text-align:left;text-decoration:none;text-transform:none;">July 2019</DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:0.5pt solid #000000;height:0.5pt;width:26%;" align="Left">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:Normal;line-height:11pt;margin-top:3pt;text-align:left;text-decoration:none;text-transform:none;">Performance data quoted represents past results. Past
performance is no guarantee of future results and current performance may be higher or lower than performance shown above. Any market index referenced herein is unmanaged; its returns do not reflect any fees, expenses, or sales charges; and is not
available for direct investment.</DIV> </DIV> <DIV style="margin-top:17pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">1</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
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<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">MANAGER&#8217;S DISCUSSION OF FUND PERFORMANCE (Unaudited)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">About the
Fund:</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">Virtus Global Dividend &amp;
Income Fund Inc. (NYSE: ZTR) (the &#8220;Fund&#8221;) has an investment policy to currently target an allocation of its investments to be a balance of approximately 60% equity and 40% fixed income securities. The Fund&#8217;s investment objective is
to generate total return, consisting of capital appreciation and income. <FONT style="font-style:italic;">There is no guarantee that the Fund will achieve its investment objective.</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">The use of leverage currently enables the
Fund to borrow at short-term rates and invest at higher yields on its investments. As of May 31, 2019, the Fund&#8217;s leverage consisted of $97.5 million of borrowings made pursuant to a line of credit, which represented approximately 28% of the
Fund&#8217;s total assets.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Manager Comments &#8211; Kayne
Anderson Rudnick Investment Management, LLC (KAR)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">KAR manages the Fund&#8217;s equity
portfolio, which currently has a target allocation of 60%, utilizing its global dividend yield strategy. The following commentary is provided by the portfolio management team at KAR, and it covers the Fund&#8217;s equity portfolio for the fiscal six
months ended May 31, 2019.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">How did global equity markets
perform during the fiscal six months ended May 31, 2019?</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">In a reversal from the sharp downturn of the
fourth quarter of 2018 and the short-term rate increases planned for 2019, financial markets responded favorably to the U.S. Federal Reserve&#8217;s (the Fed&#8217;s) expectations for interest rate cuts. As a result, global equity markets rallied,
with the U.S. leading the way. While global equity growth continued to slow as economies approached the mature stages of their business cycles, overall expectations remained positive. Battles over trade, especially with China, along with President
Trump&#8217;s embrace of tariffs to defend U.S. interests created a bumpier ride and higher volatility. The latest trade uncertainty occurred when President Trump threatened Mexico with tariffs in hopes that the country would reduce the flow of
migrants to the U.S. While that action did not materialize, we believe resolutions on trade and tariffs, while dragging on longer than expected, will help restore global business confidence and may lead to improved global growth prospects.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">Against this backdrop, the S&amp;P 500<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index returned 0.74% for the six months ended May 31, 2019, with growth stocks continuing to outperform value stocks. The Russell 1000<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Growth Index returned 3.91%, outperforming the Russell
1000<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174; </SUP>Value Index return of -1.96%. Small stocks lagged large stocks, with the Russell 2000<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index returning -3.72%. International stocks outperformed U.S. markets, with the MSCI<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> EAFE Index (net) advancing 2.41%.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">Equity sectors that delivered top performance
included real estate, utilities, and information technology. Energy, health care, and consumer discretionary could not keep pace with the returns of the strongest sectors.</DIV> </DIV> <DIV style="margin-top:89pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">For information regarding the indexes and certain key investment terms, see
Key Investment Terms starting on page 10.</DIV> </DIV> <DIV style="margin-top:14pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">2</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
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  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">MANAGER&#8217;S DISCUSSION OF FUND PERFORMANCE
(Unaudited)&nbsp;(Continued)</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">What
factors affected the performance of the Fund&#8217;s equity portfolio during the six-month period?</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">The Fund&#8217;s equity portfolio returned
3.83% (gross of fees) for the six months ended May 31, 2019, outperforming the MSCI World High Dividend Yield Index (net), which returned -0.24%. Effective January 1, 2019, the equity index in the Fund&#8217;s composite benchmark was changed to the
MSCI World High Dividend Yield Index (net) after the former equity index, the Russell Developed Large Cap Index (net), was discontinued effective December 31, 2018. For the one-month period through December 31, 2018, the equity portfolio&#8217;s
former benchmark, the Russell Developed Large Cap Index (net), returned -7.70%, versus -7.05% (gross of fees) for the portfolio.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">The portfolio&#8217;s performance was helped
by strong stock selection in the health care sector, as well as an underweight to the sector. Within the real estate sector, strong stock selection and an overweight position were beneficial. Performance within the consumer staples sector detracted
due to negative stock selection and an underweight to the sector.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">The stocks that contributed the most to
performance for the period were Tryg and Crown Castle International.</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:5.83%;margin-top:2pt;width:94.17%;" cellpadding="4" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:1.55%;">&#8226;
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:98.45%;"> Tryg is one of the largest
non-life insurance companies in the Nordic region, with activities in Denmark, Norway, and Sweden. During the reporting period, underlying results were positive and the company&#8217;s customers remained loyal, which allowed Tryg to achieve pricing
that was ahead of claims inflation. The company&#8217;s premium growth in Denmark benefited from new partnership agreements, new products, and a bonus program that is unique in the market. In addition, after a tough fourth quarter of 2018, first
quarter 2019 investment results were quite strong. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;white-space:nowrap;width:1.55%;">&#8226;
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; width:98.45%;"> Crown
Castle International is America&#8217;s largest provider of shared communications infrastructure. The company experienced strong demand from its customers, who are investing in its cell networks by deploying new cell sites and additional spectrum.
</TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">The stocks that
detracted the most from performance included Spark New Zealand and Air New Zealand.</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:5.83%;margin-top:2pt;width:94.17%;" cellpadding="4" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:1.55%;">&#8226;
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:98.45%;"> Spark New Zealand, a New
Zealand telecommunications company, experienced recent weakness in its wireless, security, and service businesses, which was offset somewhat by better broadband results. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;white-space:nowrap;width:1.55%;">&#8226;
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; width:98.45%;"> Air New
Zealand, the flagship airline of New Zealand, was negatively impacted by a slowdown in leisure travel within New Zealand, lower levels of inbound tourist traffic, and heightened competitive activity from the U.S. in the Australia and New Zealand
markets. We sold our shares due to concerns about how these issues may negatively impact cash flow and the ability of the company to maintain its current dividend level. </TD></TR></TABLE> </DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Manager Comments &#8211; Newfleet Asset Management, LLC
(Newfleet)</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">Newfleet manages the
Fund&#8217;s fixed income portfolio, which has a target allocation of 40%, utilizing its multi-sector core plus strategy. The following commentary is provided by the portfolio management team at Newfleet, and it covers the Fund&#8217;s fixed income
portfolio for the fiscal six months ended May 31, 2019.</DIV> </DIV> <DIV style="margin-top:27pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">For information regarding the indexes and certain key investment terms, see
Key Investment Terms starting on page 10.</DIV> </DIV> <DIV style="margin-top:14pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">3</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
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  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">MANAGER&#8217;S DISCUSSION OF FUND PERFORMANCE
(Unaudited)&nbsp;(Continued)</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">How did
the fixed income markets perform during the fiscal six months ended May 31, 2019?</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">Financial markets were volatile during the
six-month period. The final quarter of 2018 witnessed a meaningful mispricing of asset classes that tend to demonstrate price volatility. This was especially pronounced in December following the Federal Open Market Committee (FOMC) meeting. Fixed
income investors, like all market participants, continued to wrestle with volatility brought on by geopolitical developments, trade rhetoric, mixed global economic signals, and central banks&#8217; attempts to normalize monetary policy via policy
rate increases and balance sheet adjustments. U.S. economic data stayed on a mixed/positive trend, which contrasted with other global economies.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">The year 2019 began in stark contrast to how
2018 ended. While many of the same concerns loomed, major global central banks, including the Fed and the European Central Bank (ECB), reacted to slowing economic activity and tame inflation by pivoting their tone and policy in a more dovish
direction. This significant development, combined with improved valuations, led to a return to favor of risk assets. Most spread sectors outperformed during the period, led by corporate high yield, emerging markets, and investment grade corporates.
Within spread sectors, the asset classes that were hardest hit in late 2018 outperformed during the first five months of 2019. Given the change in U.S. interest rates, longer duration within most asset classes outperformed on a total return basis.
Securitized sectors such as asset-backed securities and residential mortgage-backed securities, while still positive, lagged other sectors.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">At its December 2018 meeting, the Fed raised
its target range to 2.25% to 2.50%, up from 2.00% to 2.25%. The Federal Open Markets Committee, indicating a dovish pivot early in 2019, signaled that rates are likely on hold for the balance of 2019. The Fed also announced changes to the management
of its balance sheet. Since early 2019, the odds of a potential rate cut appear to have increased due to indications that the U.S. economy is slowing.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">The Treasury yield curve continued to twist
and shift broadly lower during the six months ended May 31, 2019. The volatility in U.S. interest rates resulted in parts of the yield curve inverting during the period.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">What factors affected the performance of the Fund&#8217;s fixed
income portfolio during the six-month period?</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">For the fiscal six months ended May 31, 2019,
the Fund&#8217;s fixed income portfolio returned 10.49% (gross of fees), while the Bloomberg Barclays U.S. Aggregate Bond Index, which serves as the portfolio&#8217;s benchmark, returned 6.72%.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">During the period, positive contributors to
performance included the portfolio&#8217;s allocation to corporate high yield. Issue selection within the investment grade corporate sector, as well as underweights to agency mortgage-backed securities and U.S. Treasuries also contributed to
performance.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">The portfolio&#8217;s
exposures to asset-backed securities, non-agency residential mortgage-backed securities, and high yield loans were detractors during the six-month period.</DIV> </DIV> <DIV style="margin-top:56pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">For information regarding the indexes and certain key investment terms, see
Key Investment Terms starting on page 10.</DIV> </DIV> <DIV style="margin-top:14pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">4</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
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  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">MANAGER&#8217;S DISCUSSION OF FUND PERFORMANCE
(Unaudited)&nbsp;(Continued)</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Manager
Comments &#8211; Rampart Investment Management Company, LLC (Rampart)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">On October 15, 2018, Rampart was appointed as
a subadviser to manage the Fund&#8217;s existing options overlay strategy, and its Chief Investment Officer, Warun Kumar, who previously managed the Fund&#8217;s options overlay strategy through Newfleet, was added as a portfolio manager. The
options overlay strategy seeks to generate additional income through the purchase and sale of paired out-of-the-money puts and calls. The following commentary is provided by the portfolio management team at Rampart and it covers the fiscal six
months ended May 31, 2019.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">How did the options overlay
strategy perform for the Fund during the fiscal six months ended May 31, 2019?</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">Overall, the overlay returned -1.98%
(excluding fees) for the six months. While the majority of trades during the period were profitable, a handful of relatively steep losses overwhelmed the gains. December 2018 was a particularly difficult period for the overlay strategy. U.S. stock
performance during the month was extremely volatile, echoing some of the highly dislocated trading seen earlier in 2018. A few observations during the month stand out:</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:5.83%;margin-top:2pt;width:94.17%;" cellpadding="4" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:1.55%;">&#8226;
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:98.45%;"> The realized volatility of
the S&amp;P 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index was over 29% during December, a level not seen since markets reacted to the downgrade of U.S. debt in 2011. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:1.55%;">&#8226;
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:98.45%;"> The average level of the
Chicago Board Options Exchange Volatility Index<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> (CBOE
VIX<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP>) during the month was also the highest since 2011. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:1.55%;">&#8226;
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:98.45%;"> The S&amp;P 500<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index rallied 5% on December 26, 2018 &#8211; its largest upward move since March 2009. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;white-space:nowrap;width:1.55%;">&#8226;
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; width:98.45%;"> The range
between the high and low levels of the S&amp;P 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index in December exceeded the range for all of 2017. </TD></TR></TABLE> </DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">The early weeks of December 2018 were the
most troublesome for the overlay strategy, as they represented the most severe departure from the more normal trading that was seen leading into the month. In particular, the first two trades of December accounted for the majority of the
overlay&#8217;s losses during the six-month period. The portfolio management team was able to adjust, helping to lessen the impact of further market volatility. Trades during the latter part of the month were structured with slightly lower income
targets than usual, in exchange for wider spreads between short option strike prices. At times, this spread exceeded 20%, which is a generous range for the S&amp;P 500<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index to trade over a two-week period, even during highly volatile times.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">In addition, the team was able to navigate
some trading opportunities that helped avoid losses. For example, on December 21st, the team made the call to close out certain short positions early in the day. While this cost a handful of basis points, the team felt it was prudent to remove risk
from the portfolio, given the highly dynamic environment. As the day progressed, the market proceeded to fall precipitously, which would have produced a larger loss if the positions were left in place.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">The rally that began so emphatically on
December 26 continued into the new year. With it arrived a more controlled trading environment, with fewer gap moves and wild price swings, although there were a handful of large moves along the way. While a risk flare in mid-May proved troubling,
the majority of the first five months of 2019 proved to be more accommodative to the option overlay, and to volatility strategies in general.</DIV> </DIV> <DIV style="margin-top:17pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">For information regarding the indexes and certain key investment terms, see
Key Investment Terms starting on page 10.</DIV> </DIV> <DIV style="margin-top:14pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">5</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
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<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">MANAGER&#8217;S DISCUSSION OF FUND PERFORMANCE
(Unaudited)&nbsp;(Continued)</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">The preceding information is the opinion of
portfolio management only through the end of the period of the report as stated on the cover. Any such opinions are subject to change at any time based upon market conditions and should not be relied upon as investment advice.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:5.83%;text-align:left;text-decoration:none;text-transform:none;">There can be no assurance that the Fund will
achieve its investment objective.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:Normal;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">The
Fund&#8217;s portfolio holdings are subject to change and may not be representative of the portfolio managers&#8217; current or future investments. The mention of individual securities held by the Fund is for informational purposes only and should
not be construed as a recommendation to purchase or sell any securities. Investors seeking financial advice regarding the appropriateness of investing in any securities or investment strategies discussed should consult their financial
professional.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:12pt;text-align:left;text-decoration:none;text-transform:none;"><FONT style="text-decoration:underline;">Risk
Considerations</FONT></DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">Equity Securities:<FONT
 style="font-weight:Normal;"> The market price of equity securities may be adversely affected by financial market, industry, or issuer-specific events. Focus on a particular style or on small or medium-sized companies may enhance that
risk.</FONT></DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">Credit &amp; Interest:<FONT
 style="font-weight:Normal;"> Debt securities are subject to various risks, the most prominent of which are credit and interest rate risk. The issuer of a debt security may fail to make interest and/or principal payments. Values of debt securities
may rise or fall in response to changes in interest rates, and this risk may be enhanced with longer-term maturities.</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">Options Overlay:<FONT
 style="font-weight:Normal;"> The options overlay strategy may not be successful in achieving its objective of increasing distributable income while limiting the risk of loss and, in periods of significant moves in the S&amp;P 500<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP>&nbsp;Index, has resulted and, in the future, may result in losses for investors.</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">Foreign Investing:<FONT
 style="font-weight:Normal;"> Investing internationally involves additional risks such as currency, political, accounting, economic, and market risk.</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">High Yield / High Risk Fixed Income Securities:<FONT
 style="font-weight:Normal;"> There is a greater level of credit risk and price volatility involved with high yield securities than investment grade securities.</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">ABS/MBS:<FONT style="font-weight:Normal;">
Changes in interest rates can cause both extension and prepayment risks for asset- and mortgage-backed securities. These securities are also subject to risks associated with the repayment of underlying collateral.</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">Leveraged Loans:<FONT
 style="font-weight:Normal;"> Loans may be unsecured or not fully collateralized, may be subject to restrictions on resale and/or trade infrequently on the secondary market. Loans can carry significant credit and call risk, can be difficult to value
and have longer settlement times than other investments, which can make loans relatively illiquid at times.</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">Leverage:<FONT style="font-weight:Normal;">
When a fund leverages its portfolio, the value of its shares may be more volatile and all other risks may be compounded.</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">Market Price/NAV:<FONT
 style="font-weight:Normal;"> At the time of purchase and/or sale, an investor&#8217;s shares may have a market price that is above or below the Fund&#8217;s NAV, which may increase the investor&#8217;s risk of loss.</FONT></DIV> </DIV>
<DIV style="margin-top:45pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">For information
regarding the indexes and certain key investment terms, see Key Investment Terms starting on page 10.</DIV> </DIV> <DIV style="margin-top:14pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">6</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
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<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">MANAGER&#8217;S DISCUSSION OF FUND PERFORMANCE
(Unaudited)&nbsp;(Continued)</DIV> <DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">Fundamental Risk of Investing:<FONT
 style="font-weight:Normal;"> There can be no assurance that the Fund will achieve its investment objectives. An investment in the shares of the Fund is subject to loss of principal; shares may decrease in value.</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:5.83%;text-transform:none;">Call/Put Spreads:<FONT
 style="font-weight:Normal;"> Buying and selling call and put option spreads on the SPX Index risks the loss of the premium when buying, can limit upside participation, and increase downside losses.</FONT></DIV> </DIV>
<DIV style="margin-top:416pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">For information
regarding the indexes and certain key investment terms, see Key Investment Terms starting on page 10.</DIV> </DIV> <DIV style="margin-top:14pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">7</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
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  <DIV style="width:100%;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="border:1pt solid black;margin-top:9pt;">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:9pt;text-align:center;text-decoration:none;text-transform:none;"><SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">OUR PRIVACY COMMITMENT</SUP></DIV> </DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;margin-top:2pt;text-align:left;text-decoration:none;text-indent:9.64%;text-transform:none;">Virtus Global Dividend &amp; Income Fund Inc.
recognizes that protecting the privacy and security of the confidential personal information we collect about you is an important responsibility. The following information will help you understand our privacy policy and how we will handle and
maintain confidential personal information as we fulfill our obligations to protect your privacy. &#8220;Personal information&#8221; refers to the nonpublic financial information obtained by us in connection with providing you a financial product or
service.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Information We Collect</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:9.64%;text-transform:none;">We collect personal information to help us
serve your financial needs, offer new products or services, provide customer service and fulfill legal and regulatory requirements. The type of information that we collect varies according to the products or services involved, and may include:</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;margin-top:2pt;padding-left:11.0054pt;text-align:left;text-decoration:none;text-indent:-11.0054pt; text-transform:none;">&#8226;<FONT
 style="padding-left:2%;"></FONT>&nbsp;&nbsp;Information we receive from you on applications and related forms (such as name, address, social security number, assets and income); and</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;margin-top:2pt;padding-left:11.0054pt;text-align:left;text-decoration:none;text-indent:-11.0054pt; text-transform:none;">&#8226;<FONT
 style="padding-left:2%;"></FONT>&nbsp;&nbsp;Information about your transactions and relationships with us, our affiliates, or others (such as products or services purchased, account balances and payment history).</DIV> </DIV>
<DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Information Disclosed in Administering Products and
Services</DIV> <DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:9.64%;text-transform:none;">We will not disclose personal
information about current or former customers to non-affiliated third parties except as permitted or required by law. We do not sell any personal information about you to any third party. In the normal course of business, personal information may be
shared with persons or entities involved in servicing and administering products and services on our behalf, including your broker, financial advisor or financial planner and other service providers and affiliates assisting us.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:10pt;text-align:left;text-decoration:none;text-transform:none;">Procedures to Protect Confidentiality and Security of Your
Personal Information</DIV> <DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;margin-top:4pt;text-align:left;text-decoration:none;text-indent:9.64%;text-transform:none;">We have procedures
in place that limit access to personal information to those employees and service providers who need to know such information in order to perform business services on our behalf. We educate our employees on the importance of protecting the privacy
and security of confidential personal information. We also maintain physical, electronic and procedural safeguards that comply with federal and state regulations to guard your personal information.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;margin-top:2pt;text-align:left;text-decoration:none;text-indent:9.64%;text-transform:none;">We will update our policy and procedures
where necessary to ensure that your privacy is maintained and that we conduct our business in a way that fulfills our commitment to you. If we make any material changes in our privacy policy, we will make that information available to customers
through our website and/or other communications.</DIV> </DIV> <DIV style="clear:both;"> <DIV style="clear:both;padding-top:182pt;width:100%;" type="Block">
<DIV style="clear:both;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">8</DIV> </DIV> </DIV> </DIV>
<DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
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<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">PORTFOLIO HOLDINGS SUMMARY WEIGHTINGS (Unaudited)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:26pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:6pt;text-align:center;text-decoration:none;text-transform:none;">The
following tables present the portfolio holdings within certain</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">sectors
or countries as a percentage of total investments net of written options at May 31, 2019.</DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;margin-top:20pt;width:100%;"> </DIV>
<DIV style="border:1pt solid black;float:right;margin-right:19.533527696793002915451895040%;overflow:hidden;position:relative;width:48.20%;" type="Block">
<DIV style="color:#000000;font-family:Arial Narrow;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;text-align:center;text-decoration:none;text-transform:none;"><FONT style="text-decoration:underline;">Asset
Allocations</FONT></DIV> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:90.24%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:4pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:81.08%;">Common
 Stocks </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:2pt;padding-top:4pt;text-align:center;vertical-align:bottom;width:8.11%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:12pt;padding-top:4pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:10.81%;">60%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:14pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:81.08%;">Financials
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:2pt;padding-right:2pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.11%;">13%
 </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:12pt;padding-top:1.25pt;text-align:center;vertical-align:bottom;width:10.81%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:14pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:81.08%;">Communication
 Services </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.11%;">8
 </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:12pt;padding-top:1.25pt;text-align:center;vertical-align:bottom;width:10.81%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:14pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:81.08%;">Real
 Estate </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.11%;">7
 </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:12pt;padding-top:1.25pt;text-align:center;vertical-align:bottom;width:10.81%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:14pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:81.08%;">All
 Other Common Stocks </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:2pt;padding-right:2pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.11%;">32
 </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:12pt;padding-top:1.25pt;text-align:center;vertical-align:bottom;width:10.81%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:81.08%;">Corporate
 Bonds and Notes </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:2pt;padding-top:1.25pt;text-align:center;vertical-align:bottom;width:8.11%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:12pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">18
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:14pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:81.08%;">Financials
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.11%;">6
 </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:12pt;padding-top:1.25pt;text-align:center;vertical-align:bottom;width:10.81%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:14pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:81.08%;">Energy
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.11%;">2
 </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:12pt;padding-top:1.25pt;text-align:center;vertical-align:bottom;width:10.81%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:14pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:81.08%;">Real
 Estate </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.11%;">2
 </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:12pt;padding-top:1.25pt;text-align:center;vertical-align:bottom;width:10.81%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:22pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:81.08%;">All
 Other Corporate Bonds and Notes </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.11%;">8
 </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:12pt;padding-top:1.25pt;text-align:center;vertical-align:bottom;width:10.81%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:81.08%;">Mortgage-Backed
 Securities </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:2pt;padding-top:1.25pt;text-align:center;vertical-align:bottom;width:8.11%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:10pt;padding-right:12pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">9
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:81.08%;">U.S.
 Government Securities </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:2pt;padding-top:1.25pt;text-align:center;vertical-align:bottom;width:8.11%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:10pt;padding-right:12pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">4
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:81.08%;">Asset-Backed
 Securities </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:2pt;padding-top:1.25pt;text-align:center;vertical-align:bottom;width:8.11%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:10pt;padding-right:12pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">4
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:81.08%;">Leveraged
 Loans </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:2pt;padding-top:1.25pt;text-align:center;vertical-align:bottom;width:8.11%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:10pt;padding-right:12pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">2
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:81.08%;">Municipal
 Bonds </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:2pt;padding-top:1.25pt;text-align:center;vertical-align:bottom;width:8.11%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:10pt;padding-right:12pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">1
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:14pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:81.08%;">Other
 (includes short-term investments and written options) </TD>
<TD style="line-height:8pt;padding-bottom:2.5pt;padding-right:2pt;padding-top:1.25pt;text-align:center;vertical-align:bottom;width:8.11%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:10pt;padding-right:12pt; padding-top:1.25pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">2
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:6pt;padding-right:2pt;padding-top:2pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:81.08%;">Total
 </TD>
<TD style="line-height:8pt;padding-bottom:1.38pt;padding-right:2pt;padding-top:2pt;text-align:center;vertical-align:bottom;width:8.11%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:2pt;padding-right:12pt; padding-top:2pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">100%
 </TD></TR></TABLE> </DIV> </DIV> <DIV style="clear:both;"> <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> </DIV>
<DIV style="border:1pt solid black;float:right;margin-right:19.533527696793002915451895040%;margin-top:34pt;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV style="color:#000000;font-family:Arial Narrow;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;margin-top:9.5pt;text-align:center;text-decoration:none;text-transform:none;"><FONT style="text-decoration:underline;">Country
Weightings</FONT></DIV> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:90.24%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:4pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:89.19%;">United
 States </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:12pt;padding-top:4pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:10.81%;">61%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:89.19%;">United
 Kingdom </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:12pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">12
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:89.19%;">Canada
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:10pt;padding-right:12pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">9
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:89.19%;">Switzerland
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:10pt;padding-right:12pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">4
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:89.19%;">New
 Zealand </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:10pt;padding-right:12pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">3
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:89.19%;">Finland
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:10pt;padding-right:12pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">2
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:89.19%;">France
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:10pt;padding-right:12pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">2
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:6pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:89.19%;">Other
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:10pt;padding-right:12pt; padding-top:1.25pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">7
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:6pt;padding-right:2pt;padding-top:2pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:89.19%;">Total
 </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:2pt;padding-right:12pt; padding-top:2pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.81%;">100%
 </TD></TR></TABLE> </DIV> </DIV> <DIV style="clear:both;"> <DIV style="clear:both;padding-top:114pt;width:100%;" type="Block">
<DIV style="clear:both;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:121pt;text-align:center;text-decoration:none;text-transform:none;">9</DIV> </DIV> </DIV> </DIV>
<DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">KEY INVESTMENT TERMS (Unaudited)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">American Depositary Receipt (&#8220;ADR&#8221;)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">Represents shares of foreign companies traded in U.S. dollars
on U.S. exchanges that are held by a U.S. bank or a trust. Foreign companies use ADRs in order to make it easier for Americans to buy their shares.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">Basis Points</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">Basis points, otherwise known as bps or &#8220;bips,&#8221; are
a unit of measure used in finance to describe the percentage change in the value or rate of a financial instrument. One basis point is equivalent to 0.01% (1/100th of a percent) or 0.0001 in decimal form.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">Bloomberg Barclays U.S. Aggregate Bond Index</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">The Bloomberg Barclays U.S. Aggregate Bond Index measures the
U.S. investment-grade fixed-rate bond market. The index is calculated on a total return basis. The index is unmanaged, its returns do not reflect any fees, expenses, or sales charges, and it is not available for direct investment.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">Chicago Board Options Exchange Volatility Index<SUP
 style="font-size:85%;font-style:italic;text-transform:none;vertical-align:text-top;">&#174;</SUP> (&#8220;CBOE VIX<SUP style="font-size:85%;font-style:italic;text-transform:none;vertical-align:text-top;">&#174;</SUP>&#8221;)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">The CBOE VIX<SUP
 style="font-size:85%;font-style:italic;text-transform:none;vertical-align:text-top;">&#174;</SUP> shows the market&#8217;s expectation of 30-day volatility. It is constructed using the implied volatilities of a wide range of S&amp;P 500<SUP
 style="font-size:85%;font-style:italic;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index options. This volatility is meant to be forward looking and is calculated from both calls and puts. The CBOE VIX<SUP
 style="font-size:85%;font-style:italic;text-transform:none;vertical-align:text-top;">&#174;</SUP> is a widely used measure of market risk and is often referred to as the &#8220;investor fear gauge.&#8221; The index is unmanaged, its returns do not
reflect any fees, expenses, or sales charges, and it is not available for direct investment.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">European Central Bank (&#8220;ECB&#8221;)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">The ECB is responsible for conducting monetary policy for the
Euro zone. The ECB was established as the core of the Euro-system and the European System of Central Banks (&#8220;ESCB&#8221;). The ESCB comprises the ECB and the National Central Banks (&#8220;NCBs&#8221;) of all 17 European Union Member States
whether or not they have adopted the Euro.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">Federal Open
Market Committee (&#8220;FOMC&#8221;)</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">The Federal Open
Market Committee (FOMC) is the branch of the Federal Reserve Board that determines the direction of monetary policy.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">Federal Reserve (the &#8220;Fed&#8221;)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">The Central Bank of the United States, responsible for
controlling the money supply, interest rates and credit with the goal of keeping the U.S. economy and currency stable. Governed by a seven-member board, the system includes 12 regional Federal Reserve Banks, 25 branches and all national and state
banks that are part of the system.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">Global Dividend &amp;
Income Fund Linked Benchmark</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">The Virtus Global Dividend
&amp; Income Fund Linked Benchmark consists of 60% MSCI World High Dividend Yield Index (net) and 40% Bloomberg Barclays U.S. Aggregate Bond Index. The MSCI World High Dividend Yield Index is based on the MSCI World Index, its parent index, and
includes large and mid cap stocks across 23 Developed Markets (DM) countries. The index is designed to reflect the performance of equities in the parent index (excluding REITs) with higher dividend income and quality characteristics than average
dividend yields that are both sustainable and persistent. The index also applies quality screens and reviews 12-month past performance to omit stocks with potentially deteriorating fundamentals that could force them to cut or reduce dividends. The
index is calculated on a total return basis with net dividends reinvested; it is unmanaged; its returns do not reflect any fees, expenses or sales charges; and it is not available for direct investment. The Bloomberg Barclays U.S. Aggregate Bond
Index measures the U.S. investment grade fixed rate bond market and is calculated on a total return</DIV> </DIV> <DIV style="margin-top:20pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">10</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
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<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">KEY INVESTMENT TERMS (Unaudited) (Continued) <FONT
 style="text-transform:uppercase;">May 31, 2019</FONT></DIV> </DIV> <DIV style="margin-top:14pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">basis; it is unmanaged; its returns do not reflect any fees, expenses or sales
charges; and is not available for direct investment. Performance of the Virtus Global Dividend &amp; Income Fund Linked Benchmark between 9/6/2016 and 12/31/2018 represents an allocation consisting of 60% Russell Developed Large Cap Index and 40%
Bloomberg Barclays U.S. Aggregate Bond Index. Performance of the Virtus Global Dividend &amp; Income Fund Linked Benchmark between 8/1/2007 and 9/6/2016 represents an allocation consisting of 50% S&amp;P 500<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index and 50% Bloomberg Barclays U.S. Government Bond Index. Prior to 8/1/2007, the allocation consisted of 37.5% S&amp; P 500<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index and 62.5% Bloomberg Barclays U.S. Government Bond Index.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">London Interbank Offered Rate (&#8220;LIBOR&#8221;)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">A benchmark rate that some of the world&#8217;s leading banks
charge each other for short term loans and that serves as the first step to calculating interest rates on various loans throughout the world.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">MSCI EAFE<SUP
 style="font-size:85%;font-style:italic;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index (net)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">The MSCI EAFE<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> (&#8220;Europe, Australasia, Far East&#8221;) Index (net) is a free float-adjusted market capitalization-weighted index that measures developed
foreign market equity performance, excluding the U.S. and Canada. The index is calculated on a total return basis with net dividends reinvested. The index is unmanaged, its returns do not reflect any fees, expenses, or sales charges, and it is not
available for direct investment.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">MSCI Emerging Markets
Index (net)</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">The MSCI Emerging Markets Index (net) is a
free float-adjusted market capitalization-weighted index designed to measure equity market performance in the global emerging markets. The index is calculated on a total return basis with net dividends reinvested. The index is unmanaged, its returns
do not reflect any fees, expenses, or sales charges, and it is not available for direct investment.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">MSCI World High Dividend Yield Index (net)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">The MSCI World High Dividend Yield Index is based on the MSCI
World Index, its parent index, and includes large and mid cap stocks across 23 Developed Markets (DM) countries. The index is designed to reflect the performance of equities in the parent index (excluding REITs) with higher dividend income and
quality characteristics than average dividend yields that are both sustainable and persistent. The index also applies quality screens and reviews 12-month past performance to omit stocks with potentially deteriorating fundamentals that could force
them to cut or reduce dividends. The index is calculated on a total return basis with net dividends reinvested; it is unmanaged; its returns do not reflect any fees, expenses or sales charges; and it is not available for direct investment.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">Quantitative Easing (QE)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">A government monetary policy occasionally used to increase the
money supply by buying government securities or other securities from the market. Quantitative easing increases the money supply by flooding financial institutions with capital in an effort to promote increased lending and liquidity.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">Russell 1000<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP>Growth Index</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">The Russell 1000<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Growth Index is a market capitalization-weighted index of growth-oriented stocks of the 1,000 largest companies in the Russell Universe, which
comprises the 3,000 largest U.S. companies. The index is calculated on a total return basis with dividends reinvested. The index is unmanaged, its returns do not reflect any fees, expenses, or sales charges, and it is not available for direct
investment.</DIV> </DIV> <DIV style="margin-top:43pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">11</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
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<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">KEY INVESTMENT TERMS (Unaudited) (Continued) <FONT
 style="text-transform:uppercase;">May 31, 2019</FONT></DIV> </DIV> <DIV style="margin-top:14pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">Russell 1000<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP>Value Index</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">The Russell 1000<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174; </SUP>Value Index is a market capitalization-weighted index of value-oriented stocks of the 1,000 largest companies in the Russell Universe, which comprises
the 3,000 largest U.S. companies. The index is calculated on a total return basis with dividends reinvested. The index is unmanaged, its returns do not reflect any fees, expenses, or sales charges, and it is not available for direct
investment.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">Russell 2000<SUP
 style="font-size:85%;font-style:italic;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">The Russell 2000<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index is a market capitalization-weighted index of the 2,000 smallest companies in the Russell Universe, which comprises the 3,000 largest U.S.
companies. The index is calculated on a total return basis with dividends reinvested. The index is unmanaged, its returns do not reflect any fees, expenses, or sales charges, and it is not available for direct investment.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">Russell Developed Large Cap Index (net)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">The Russell Developed Large Cap Index (net) is a free-float
market capitalization-weighted index constructed to provide a comprehensive and unbiased barometer for the large-cap segment in the developed world. The index is calculated on a total return basis with net dividends reinvested. The index is
unmanaged, its returns do not reflect any fees, expenses, or sales charges, and it is not available for direct investment.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">S&amp;P 500<SUP
 style="font-size:85%;font-style:italic;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">The S&amp;P 500<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index is a free-float market capitalization-weighted index of 500 of the largest U.S. companies. The index is calculated on a total return basis with
dividends reinvested. The index is unmanaged, its returns do not reflect any fees, expenses, or sales charges, and it is not available for direct investment.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">Sponsored ADR</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">An ADR which is issued with the cooperation of the company
whose stock will underlie the ADR. Sponsored ADRs generally carry the same rights normally given to stockholders, such as voting rights. ADRs must be sponsored to be able to trade on a major U.S. exchange such as the New York Stock Exchange
(&#8220;NYSE&#8221;).</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;font-weight:bold;line-height:11pt;margin-top:10.5pt;text-align:left;text-decoration:none;text-transform:none;">Yield Curve</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:left;text-decoration:none;text-transform:none;">A line that plots the interest rates, at a set point in time,
of bonds having equal credit quality, but differing maturity dates. The most frequently reported yield curve compares the three-month, two-year, five-year and 30-year U.S. Treasury debt. This yield curve is used as a benchmark for other debt in the
market, such as mortgage rates or bank lending rates. The curve is also used to predict changes in economic output and growth.</DIV> </DIV> <DIV style="margin-top:147pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">12</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
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<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-bottom:3pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:3pt;padding-left:2pt;padding-right:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:3pt;padding-left:2pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-top:1.88pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:100%;" colspan="4">U.S.
 Government Securities&#8212;5.9% </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">U.S.
 Treasury Bond<BR> 3.000%, 8/15/48 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$&#8195;8,780
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:4.37pt;"></FONT>9,542 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">U.S.
 Treasury Note </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2.250%,
 3/31/21 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">530
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">532
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2.000%,
 2/15/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">825
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">826
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2.875%,
 8/15/28 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.25pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">2,360
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:10.12pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">2,508
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:5.5pt;padding-left:7.5pt;padding-right:2pt; padding-top:1pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2.625%,
 2/15/29 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:5.5pt;padding-left:13.25pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">1,365
 </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:5.5pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:5.5pt;padding-left:10.12pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">1,423
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:2.5pt;text-align:left; text-decoration:none;text-transform:uppercase;vertical-align:bottom;width:72.70%;" colspan="2">Total
 U.S. Government Securities<BR> <FONT style="text-transform:none;">(Identified Cost $13,833)</FONT> </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;padding-top:2.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:7.25pt;padding-top:2.5pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">14,831
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:100%;" colspan="4">Municipal
 Bonds&#8212;1.2% </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">California&#8212;0.8%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">State
 of California, Build America Bonds Taxable<BR> 7.600%, 11/1/40 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.25pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">1,000
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:10.12pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">1,596
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">University
 of California, Series B-A, Taxable<BR> 4.428%, 5/15/48 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">290
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">314
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.41pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">1,910
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Idaho&#8212;0.2%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Idaho
 Health Facilities Authority Saint Luke&#8217;s Health System Revenue Taxable<BR> 5.020%, 3/1/48 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">355
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">414
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Virginia&#8212;0.2%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1.88pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:5.5pt;padding-left:8pt;padding-right:2pt; padding-top:1pt;text-align:left;text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">City
 of Bristol, General Obligation Taxable<BR> 4.210%, 1/1/42 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:5.5pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">565
 </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:5.5pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:5.5pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">577
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:2.5pt;text-align:left; text-decoration:none;text-transform:uppercase;vertical-align:bottom;width:72.70%;" colspan="2">Total
 Municipal Bonds<BR> <FONT style="text-transform:none;">(Identified Cost $2,766)</FONT> </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;padding-top:2.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:11.0pt;padding-top:2.5pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">2,901
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:100%;" colspan="4">Foreign
 Government Securities&#8212;0.6% </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Dominican
 Republic 144A<BR> 5.950%, 1/25/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">455
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">479
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Kingdom
 of Saudi Arabia 144A<BR> 4.375%, 4/16/29<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">310
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">327
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Republic
 of Turkey<BR> 6.000%, 3/25/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">245
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">220
 </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:47.29%;">Sultanate
 of Oman </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">144A
<BR> 5.375%, 3/8/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>285 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>260 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:5.5pt;padding-left:7.5pt;padding-right:2pt; padding-top:1pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">144A
<BR> 5.625%, 1/17/28<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:5.5pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">200
 </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:5.5pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:5.5pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">182
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:2.5pt;text-align:left; text-decoration:none;text-transform:uppercase;vertical-align:bottom;width:72.70%;" colspan="2">Total
 Foreign Government Securities<BR> <FONT style="text-transform:none;">(Identified Cost $1,487)</FONT> </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;padding-top:2.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:11.0pt;padding-top:2.5pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">1,468
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:100%;" colspan="4">Mortgage-Backed
 Securities&#8212;12.8% </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Agency&#8212;0.6%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Federal
 National Mortgage Association Pool #MA3638<BR> 4.000%, 4/1/49 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:13.25pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">1,316
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:10.12pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">1,358
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Non-Agency&#8212;12.2%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1.88pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Ajax
 Mortgage Loan Trust 2018-C, A 144A<BR> 4.360%, 9/25/65<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">409
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">419
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">American
 Homes 4 Rent Trust 2014-SFR2, C 144A<BR> 4.705%, 10/17/36<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">610
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">647
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Angel
 Oak Mortgage Trust I LLC </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-2,
 A1 144A<BR> 3.674%, 7/27/48<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">458
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">464
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-3,
 A1 144A<BR> 3.649%, 9/25/48<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">510
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">516
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2019-1,
 A1 144A<BR> 3.920%, 11/25/48<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">438
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">445
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Angel
 Oak Mortgage Trust LLC 2019-3, A1 144A<BR> 2.930%, 5/25/59<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">410
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">410
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Arroyo
 Mortgage Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-1,
 A1 144A<BR> 3.763%, 4/25/48<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">358
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">365
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2019-1,
 A1 144A<BR> 3.805%, 1/25/49<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">245
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">249
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2019-2,
 A1 144A<BR> 3.347%, 4/25/49<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">245
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">246
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> <DIV style="clear:both;"> <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> <DIV style="padding-top:47pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:56pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">13</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Non-Agency&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Bank
 of America (Merrill Lynch) Commercial Mortgage Securities Trust 2015-200P, A 144A<BR> 3.218%, 4/14/33<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:7.5pt;"></FONT>1,085 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:4.37pt;"></FONT>1,121<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Bayview
 Opportunity Master Fund IVa Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2016-SPL1,
 B1 144A<BR> 4.250%, 4/28/55<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">395
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">413
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-SPL5,
 B1 144A<BR> 4.000%, 6/28/57<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">175
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">181
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Bunker
 Hill Loan Depositary Trust 2019-1, A1 144A<BR> 3.613%, 10/26/48<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">247
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">252
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">BX
 Trust 2018-MCSF, A (1 month LIBOR + 0.577%) 144A<BR> 3.016%, 4/15/35<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">315
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">312
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Caesars
 Palace Las Vegas Trust 2017-VICI, C 144A<BR> 4.138%, 10/15/34<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">470
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">488
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Chase
 Home Lending Mortgage Trust 2019-ATR1, A4 144A<BR> 4.000%, 4/25/49<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">322
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">328
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Citigroup
 Commercial Mortgage Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2013-375P,
 B 144A<BR> 3.518%, 5/10/35<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">370
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">379
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2019-SST2,
 A (1 month LIBOR + 0.920%) 144A<BR> 3.360%, 12/15/36<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">385
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">385
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Citigroup
 Mortgage Loan Trust 2019-RP1, A1 144A<BR> 3.500%, 1/25/66<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">269
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">276
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Colony
 Starwood Homes Trust 2016-2A, C (1 month LIBOR + 2.150%) 144A<BR> 4.590%, 12/17/33<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">306
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">306
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
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<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Non-Agency&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">COLT
 Mortgage Loan Trust Funding LLC 2019-1, A1 144A<BR> 3.705%, 3/25/49<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>383 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>389<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">CoreVest
 American Finance Trust 2018-2, A 144A<BR> 4.026%, 11/15/52<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">312
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">325
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Credit
 Suisse First Boston Mortgage Securities Corp. 2003-AR30, 5A1<BR> 4.508%, 1/25/34<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">145
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">151
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Credit
 Suisse Mortgage Capital Certificates 2019-ICE4, A (1 month LIBOR + 0.980%) 144A<BR> 3.443%, 5/15/36<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">340
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">340
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Deephaven
 Residential Mortgage Trust 2017-1A, A2 144A<BR> 2.928%, 12/26/46<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">98
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<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">98
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Ellington
 Financial Mortgage Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-1,
 A1 144A<BR> 2.687%, 10/25/47<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">258
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">257
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-1,
 A1FX 144A<BR> 4.140%, 10/25/58<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">171
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">174
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Galton
 Funding Mortgage Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-1,
 A21 144A<BR> 3.500%, 7/25/56<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">180
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">182
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-2,
 A41 144A<BR> 4.500%, 10/25/58<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">363
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">371
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Hilton
 USA Trust 2016-SFP, B 144A<BR> 3.323%, 11/5/35<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">965
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">972
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Homeward
 Opportunities Fund I Trust 2019-1, A1 144A<BR> 3.454%, 1/25/59<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">467
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">472
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">JPMorgan
 Chase (Bear Stearns) Alternate Loan Trust 2004-5, 3A1<BR> 4.677%, 6/25/34<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">361
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">371
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> <DIV style="padding-top:52pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">14</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Non-Agency&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">JPMorgan
 Chase Commercial Mortgage Securities Trust 2015-C31, AS<BR> 4.106%, 8/15/48 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>340 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>360<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">JPMorgan
 Chase Mortgage Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2014-5,
 B2 144A<BR> 2.984%, 10/25/29<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">142
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">140
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2016-SH2,
 M2 144A<BR> 3.750%, 12/25/45<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">564
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">582
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-3,
 2A2 144A<BR> 2.500%, 8/25/47<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">196
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">193
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">KNDL
 Mortgage Trust 2019-KNSQ, A (1 month LIBOR + 0.800%) 144A<BR> 3.300%, 5/15/36<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">340
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">340
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Lending
 Home Mortgage Trust 2019-RTL1, A1 144A<BR> 4.580%, 10/25/23<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">380
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">384
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">MetLife
 Securitization Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-1A,
 M1 144A<BR> 3.733%, 4/25/55<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">135
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">138
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2019-1A,
 A1A 144A<BR> 3.750%, 4/25/58<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">405
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">418
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Mill
 City Mortgage Loan Trust 2018-4, A1B 144A<BR> 3.500%, 4/25/66<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">770
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">777
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">New
 Residential Mortgage Loan Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-4A,
 A1S (1 month LIBOR + 0.750%) 144A<BR> 3.180%, 1/25/48<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">109
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">109
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2016-4A,
 A1 144A<BR> 3.750%, 11/25/56<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">59
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">61
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2016-4A,
 B1A 144A<BR> 4.500%, 11/25/56<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">652
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">691
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-2A,
 A3 144A<BR> 4.000%, 3/25/57<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">171
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">178
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-1A,
 A1A 144A<BR> 4.000%, 12/25/57<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">485
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">501
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Non-Agency&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">OBX
 Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-EXP2,
 1A1 144A<BR> 4.000%, 11/25/48<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>286 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>290<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2019-INV1,
 A3 144A<BR> 4.500%, 11/25/48<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">342
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">351
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">One
 Market Plaza Trust 2017-1MKT, A 144A<BR> 3.614%, 2/10/32<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">345
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">357
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Preston
 Ridge Partners Mortgage LLC </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2019-1A,
 A1 144A<BR> 4.500%, 1/25/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">501
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">509
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2019-2A,
 A1 144A<BR> 3.967%, 4/25/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">407
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">412
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Pretium
 Mortgage Credit Partners I LLC 2019-NPL1, A1 144A<BR> 4.213%, 7/25/60<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">296
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">299
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Progress
 Residential Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-SFR1,
 B 144A<BR> 3.017%, 8/17/34<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">335
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">334
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-SFR1,
 B 144A<BR> 3.484%, 3/17/35<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">300
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">304
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-SFR2,
 B 144A<BR> 3.841%, 8/17/35<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">185
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">189
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">RCO
 V Mortgage LLC 2019-1, A1 144A<BR> 3.721%, 5/24/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)(3)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">110
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">110
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Residential
 Mortgage Loan Trust 2019-1, A1 144A<BR> 3.936%, 10/25/58<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">175
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">178
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Sequoia
 Mortgage Trust 2013-8, B1<BR> 3.529%, 6/25/43<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">338
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">342
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Stack
 Infrastructure Issuer LLC 2019-1A, A2 144A<BR> 4.540%, 2/25/44<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">369
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">383
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Starwood
 Mortgage Residential Trust 2019-IMC1, A1 144A<BR> 3.468%, 2/25/49<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">248
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">251
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> <DIV style="padding-top:52pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:61pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">15</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Non-Agency&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Structured
 Adjustable Rate Mortgage Loan Trust 2004-4, 3A2<BR> 4.715%, 4/25/34<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>122 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>126<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Towd
 Point Mortgage Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2015-1,
 A2 144A<BR> 3.250%, 10/25/53<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">610
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">614
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2015-6,
 M1 144A<BR> 3.750%, 4/25/55<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">185
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">191
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-1,
 M1 144A<BR> 3.750%, 10/25/56<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">200
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">204
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-6,
 A2 144A<BR> 3.000%, 10/25/57<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">330
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">324
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2019-1,
 A1 144A<BR> 3.750%, 3/25/58<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">605
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">627
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-4,
 A1 144A<BR> 3.000%, 6/25/58<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">242
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">242
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-SJ1,
 A1 144A<BR> 4.000%, 10/25/58<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">171
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">173
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2015-2,
 1M1 144A<BR> 3.250%, 11/25/60<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">350
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">353
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Tricon
 American Homes Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2016-SFR1,
 C 144A<BR> 3.487%, 11/17/33<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">975
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">979
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-SFR1,
 A 144A<BR> 2.716%, 9/17/34<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">165
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">165
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">VCAT
 LLC 2019-NPL1, A1 144A<BR> 4.360%, 2/25/49<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">287
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">290
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Vericrest
 Opportunity Loan Trust 2019-NPL2, A1 144A<BR> 3.967%, 2/25/49<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">262
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">264
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Vericrest
 Opportunity Loan Trust LXIX LLC 2018-NPL5, A1A 144A<BR> 4.213%, 8/25/48<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">339
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">341
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Vericrest
 Opportunity Loan Trust LXXI LLC 2018-NPL7, A1A 144A<BR> 3.967%, 9/25/48<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">186
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">187
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Vericrest
 Opportunity Loan Trust LXXV LLC 2019-NPL1, A1A 144A<BR> 4.336%, 1/25/49<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">344
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">348
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
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<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Non-Agency&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Verus
 Securitization Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-2A,
 A1 144A<BR> 2.485%, 7/25/47<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>216 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>215<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-1,
 A1 144A<BR> 2.929%, 2/25/48<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">159
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">159
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-2,
 A1 144A<BR> 3.677%, 6/1/58<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">518
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">523
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-3,
 A1 144A<BR> 4.108%, 10/25/58<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">579
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">591
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2019-1,
 A1 144A<BR> 3.836%, 2/25/59<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">448
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">455
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2019-INV1,
 A1 144A<BR> 3.402%, 12/25/59<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">250
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">254
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Wells
 Fargo Commercial Mortgage Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2014-C24,
 AS<BR> 3.931%, 11/15/47 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">340
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">354
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2015-LC20,
 A5<BR> 3.184%, 4/15/50 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">340
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">348
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2015-LC20,
 B<BR> 3.719%, 4/15/50 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">675
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">694
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:6.71pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">30,506
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:2.5pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:2.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:2.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:72.70%;" colspan="2">Total
 Mortgage-Backed Securities<BR> <FONT style="text-transform:none;">(Identified Cost $31,464)</FONT> </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:7.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">31,864
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:100%;" colspan="4">Asset-Backed
 Securities&#8212;5.9% </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Auto
 Floor Plan&#8212;0.1% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">NextGear
 Floorplan Master Owner Trust 2018-1A, A2 144A<BR> 3.220%, 2/15/23<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">355
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">359
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Automobiles&#8212;4.0%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1.88pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">ACC
 Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-1,
 A<BR> 144A 3.700%, 12/21/20<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">109
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">109
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-1,
 B<BR> 144A 4.820%, 5/20/21<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">335
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">337
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2019-1,
 A<BR> 144A 3.750%, 5/20/22<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">337
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">340
 </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> <DIV style="padding-top:25pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:34pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">16</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Automobiles&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">American
 Credit Acceptance Receivables Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-2,
 C<BR> 144A 2.860%, 6/12/23<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>277 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>277 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-3,
 C<BR> 144A 3.750%, 10/15/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">430
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">434
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-4,
 C<BR> 144A 3.970%, 1/13/25<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">400
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">408
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2019-2,
 C<BR> 144A 3.170%, 6/12/25<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">340
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">341
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Carvana
 Auto Receivables Trust 2019-1A, D 144A<BR> 3.880%, 10/15/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">385
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">394
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Centre
 Point Funding LLC 2012-2A, 1 144A<BR> 2.610%, 8/20/21<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">299
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">297
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">CPS
 Auto Receivables Trust 2017-D, B 144A<BR> 2.430%, 1/18/22<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">410
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">409
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">DT
 Auto Owner Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-3A,
 C<BR> 144A 3.790%, 7/15/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">285
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">290
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2019-2A,
 B<BR> 144A 2.990%, 4/17/23<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">340
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">342
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Exeter
 Automobile Receivables Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2015-2A,
 C<BR> 144A 3.900%, 3/15/21<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">244
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">244
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2016-3A,
 B<BR> 144A 2.840%, 8/16/21<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">367
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">367
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">First
 Investors Auto Owner Trust 2017-2A, B 144A<BR> 2.650%, 11/15/22<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">415
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">415
 </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Automobiles&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Flagship
 Credit Auto Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2016-2,
 B<BR> 144A 3.840%, 9/15/22<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>285 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>286 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-3,
 C<BR> 144A 2.910%, 9/15/23<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">505
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">507
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2019-1,
 C<BR> 144A 3.600%, 2/18/25<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">235
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">241
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Foursight
 Capital Automobile Receivables Trust 2017-1, B 144A<BR> 3.050%, 12/15/22<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">400
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">401
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">GLS
 Auto Receivables Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-1A,
 B<BR> 144A 2.980%, 12/15/21<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">525
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">526
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-3A,
 C<BR> 144A 4.180%, 7/15/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">515
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">530
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Hertz
 Vehicle Financing II LP 2019-1A, A 144A<BR> 3.710%, 3/25/23<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">310
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">317
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">OneMain
 Direct Auto Receivables Trust 2017-2A, C 144A<BR> 2.820%, 7/15/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">415
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">414
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Prestige
 Auto Receivables Trust 2017-1A, C 144A<BR> 2.810%, 1/17/23<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">505
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">506
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Santander
 Drive Auto Receivables Trust 2016-1, C<BR> 3.090%, 4/15/22 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">139
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">139
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Tricolor
 Auto Securitization Trust 2018-2A, B 144A<BR> 4.760%, 2/15/22<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">318
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">324
 </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> <DIV style="padding-top:70pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:79pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">17</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Automobiles&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">United
 Auto Credit Securitization Trust 2019-1, D 144A<BR> 3.470%, 8/12/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>340 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>342 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Westlake
 Automobile Receivables Trust 2017-2A, C 144A<BR> 2.590%, 12/15/22<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">505
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">504
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:6.71pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">10,041
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Consumer
 Loans&#8212;0.2% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">SoFi
 Consumer Loan Program Trust 2019-3, A 144A<BR> 2.900%, 5/25/28<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">410
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">411
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Other&#8212;1.4%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1.88pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">AXIS
 Equipment Finance Receivables IV LLC 2018-1A, A2 144A<BR> 3.240%, 12/20/23<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">307
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">308
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">AXIS
 Equipment Finance Receivables VI LLC 2018-2A, A2 144A<BR> 3.890%, 7/20/22<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">392
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">398
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">DB
 Master Finance LLC 2017-1A, A2I 144A<BR> 3.629%, 11/20/47<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">419
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">429
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Dell
 Equipment Finance Trust 2017-2, A3 144A<BR> 2.190%, 10/24/22<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">390
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">389
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Diamond
 Resorts Owner Trust 2017-1A, A 144A<BR> 3.270%, 10/22/29<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">184
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">186
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Drug
 Royalty II LP 2 2014-1, A2 144A<BR> 3.484%, 7/15/23<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">54
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">54
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Foundation
 Finance Trust 2019-1A, A 144A<BR> 3.860%, 11/15/34<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">371
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">377
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Orange
 Lake Timeshare Trust 2019-A, B 144A<BR> 3.360%, 4/9/38<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">410
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">410
 </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
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<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Other&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Prosper
 Marketplace Issuance Trust </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-2A,
 B<BR> 144A 3.480%, 9/15/23<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>153 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>153 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018-1A,
 A<BR> 144A 3.110%, 6/17/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">59
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">59
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">SoFi
 Consumer Loan Program LLC </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2016-3,
 A<BR> 144A 3.050%, 12/26/25<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">107
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">108
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2017-1,
 A<BR> 144A 3.280%, 1/26/26<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">139
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">140
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">TGIF
 Funding LLC 2017-1A, A2 144A<BR> 6.202%, 4/30/47<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">154
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">150
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Trinity
 Rail Leasing 2019 LLC 2019-1A, A 144A<BR> 3.820%, 4/17/49<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">340
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">346
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.41pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">3,507
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Student
 Loan&#8212;0.2% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:5.5pt;padding-left:8pt;padding-right:2pt; padding-top:1pt;text-align:left;text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Laurel
 Road Prime Student Loan Trust 2017-B, A2FX 144A<BR> 2.770%, 8/25/42<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:5.5pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">430
 </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:5.5pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:5.5pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">431
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:2.5pt;text-align:left; text-decoration:none;text-transform:uppercase;vertical-align:bottom;width:72.70%;" colspan="2">Total
 Asset-Backed Securities<BR> <FONT style="text-transform:none;">(Identified Cost $14,649)</FONT> </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;padding-top:2.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:7.25pt;padding-top:2.5pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">14,749
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:100%;" colspan="4">Corporate
 Bonds and Notes&#8212;24.1% </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Communication
 Services&#8212;1.2% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">AT&amp;T,
 Inc. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">4.100%,
 2/15/28 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">325
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">335
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">(3
 month LIBOR + 1.180%)<BR> 3.616%, 6/12/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">135
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">136
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Comcast
 Corp. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">3.950%,
 10/15/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">189
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">200
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> <DIV style="padding-top:61pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">18</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Communication
<BR> Services&#8212;continued </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">4.150%,
 10/15/28 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:16.88pt;"></FONT>91 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:13.75pt;"></FONT>98<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Discovery
 Communications LLC<BR> 3.950%, 3/20/28 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">475
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">475
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">DISH
 DBS Corp.<BR> 5.875%, 7/15/22 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">185
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">182
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Entercom
 Media Corp. 144A<BR> 6.500%, 5/1/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">10
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">10
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Frontier
 Communications Corp. 144A<BR> 8.500%, 4/1/26<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">125
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">120
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Meredith
 Corp.<BR> 6.875%, 2/1/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">185
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">190
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Sprint
 Spectrum Co., LLC </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">144A
 3.360%, 9/20/21<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">125
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">125
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">144A
 4.738%, 3/20/25<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">465
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">475
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Tencent
 Holdings Ltd. 144A<BR> 3.975%, 4/11/29<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">360
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">363
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Verizon
 Communications, Inc.<BR> 4.125%, 3/16/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">330
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">351
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.41pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">3,060
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Consumer
 Discretionary&#8212;1.9% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Bunge
 Ltd. Finance Corp.<BR> 4.350%, 3/15/24 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">290
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">298
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Dollar
 Tree, Inc.<BR> 4.000%, 5/15/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">440
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">453
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Eldorado
 Resorts, Inc.<BR> 6.000%, 9/15/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">90
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">93
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Frontdoor,
 Inc. 144A<BR> 6.750%, 8/15/26<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">175
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">184
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Gateway
 Casinos &amp; Entertainment Ltd. 144A<BR> 8.250%, 3/1/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">135
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">140
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">GLP
 Capital LP<BR> 5.750%, 6/1/28 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">395
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">429
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Consumer
 Discretionary&#8212;continued </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Horton
 (D.R.), Inc.<BR> 4.750%, 2/15/23 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>510 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>537<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">IAA
 Spinco, Inc. 144A<BR> 5.500%, 6/15/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">30
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">31
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Lear
 Corp.<BR> 3.800%, 9/15/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">505
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">485
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Panther
 BF Aggregator 2 LP 144A<BR> 6.250%, 5/15/26<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">15
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">15
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Prime
 Security Services Borrower LLC </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">144A
 5.250%, 4/15/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">40
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">39
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">144A
 5.750%, 4/15/26<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">20
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">20
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">PulteGroup,
 Inc.<BR> 6.375%, 5/15/33 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">280
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">289
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">QVC,
 Inc.<BR> 4.375%, 3/15/23 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">665
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">667
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Scientific
 Games International, Inc. 144A<BR> 8.250%, 3/15/26<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">125
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">126
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Service
 Corp. International<BR> 5.125%, 6/1/29 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">60
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">61
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Tenneco,
 Inc.<BR> 5.000%, 7/15/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">165
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">125
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">TRI
 Pointe Group, Inc.<BR> 5.875%, 6/15/24 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">210
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">208
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Under
 Armour, Inc.<BR> 3.250%, 6/15/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">190
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">176
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Wyndham
 Worldwide Corp.<BR> 5.750%, 4/1/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">280
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">281
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.41pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">4,657
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Consumer
 Staples&#8212;1.4% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Anheuser-Busch
 Inbev Worldwide, Inc.<BR> 4.000%, 4/13/28 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">405
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">423
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Bacardi
 Ltd. 144A<BR> 4.700%, 5/15/28<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">875
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">909
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Conagra
 Brands, Inc.<BR> 4.300%, 5/1/24 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">470
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">494
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> <DIV style="padding-top:58pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">19</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Consumer
 Staples&#8212;continued </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">CVS
 Health Corp. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2.875%,
 6/1/26 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>700 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>671<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">4.300%,
 3/25/28 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">311
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">320
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Flowers
 Foods, Inc.<BR> 4.375%, 4/1/22<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">330
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">344
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Kraft
 Heinz Foods Co. (The)<BR> 3.000%, 6/1/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">420
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">396
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.41pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">3,557
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Energy&#8212;2.2%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Alliance
 Resource Operating Partners LP 144A<BR> 7.500%, 5/1/25<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">195
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">200
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Andeavor
 Logistics LP<BR> 4.250%, 12/1/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">215
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">221
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Cheniere
 Energy Partners LP 144A<BR> 5.625%, 10/1/26<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">140
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">142
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">CrownRock
 LP 144A<BR> 5.625%, 10/15/25<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">210
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">201
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Energy
 Transfer Operating LP<BR> 4.200%, 4/15/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">430
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">437
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Helmerich
 &amp; Payne, Inc.<BR> 4.650%, 3/15/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">290
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">306
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">HollyFrontier
 Corp.<BR> 5.875%, 4/1/26<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">480
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">518
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Kinder
 Morgan Energy Partners LP<BR> 7.500%, 11/15/40 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">615
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">787
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">NuStar
 Logistics LP<BR> 5.625%, 4/28/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">320
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">310
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Pertamina
 Persero PT 144A<BR> 6.450%, 5/30/44<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">475
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">542
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Sabine
 Pass Liquefaction LLC </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">6.250%,
 3/15/22 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">355
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">383
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">4.200%,
 3/15/28 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">205
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">207
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">State
 Oil Co. of the Azerbaijan Republic RegS<BR> 6.950%, 3/18/30<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(5)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">445
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">512
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Energy&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Transocean
 Guardian Ltd. 144A<BR> 5.875%, 1/15/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>104 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>104<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">USA
 Compression Partners LP<BR> 6.875%, 4/1/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">290
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">297
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Valero
 Energy Partners LP<BR> 4.500%, 3/15/28 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">330
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">349
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.41pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">5,516
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Financials&#8212;8.2%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">AerCap
 Ireland Capital DAC<BR> 3.950%, 2/1/22 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">495
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">504
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Allstate
 Corp. (The) Series B<BR> 5.750%, 8/15/53<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)(6)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">485
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">497
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Apollo
 Management Holdings LP 144A<BR> 4.000%, 5/30/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(4)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">475
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">487
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Ares
 Capital Corp.<BR> 4.250%, 3/1/25<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">325
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">327
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Ares
 Finance Co., LLC 144A<BR> 4.000%, 10/8/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">675
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">654
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Athene
 Holding Ltd.<BR> 4.125%, 1/12/28 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">395
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">387
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Aviation
 Capital Group LLC 144A<BR> 3.500%, 11/1/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">480
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">463
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Banco
 Bilbao Vizcaya Argentaria Bancomer S.A. 144A<BR> 5.125%, 1/18/33<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">325
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">303
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Banco
 de Credito e Inversiones S.A. 144A<BR> 3.500%, 10/12/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">740
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">731
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Bank
 of America Corp. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">3.004%,
 12/20/23 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">339
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">341
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">4.200%,
 8/26/24 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">938
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">982
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Bank
 of Montreal<BR> 3.803%, 12/15/32 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">621
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">614
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Brighthouse
 Financial, Inc.<BR> 3.700%, 6/22/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">400
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">373
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> <DIV style="padding-top:40pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:49pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">20</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Financials&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">BrightSphere
 Investment Group plc<BR> 4.800%, 7/27/26 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>495 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>495<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Brookfield
 Finance, Inc.<BR> 4.000%, 4/1/24 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">598
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">620
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Capital
 One Financial Corp. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">4.200%,
 10/29/25<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">450
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">466
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">3.750%,
 7/28/26<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">545
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">540
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Citigroup,
 Inc.<BR> 5.500%, 9/15/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.25pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">1,300
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:10.12pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">1,444
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Discover
 Bank<BR> 4.682%, 8/9/28 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">375
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">382
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Fairfax
 Financial Holdings Ltd.<BR> 4.850%, 4/17/28 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">430
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">447
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">FS
 KKR Capital Corp. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">4.250%,
 1/15/20 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">410
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">411
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">4.750%,
 5/15/22 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">100
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">101
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Goldman
 Sachs Group, Inc. (The)<BR> 5.750%, 1/24/22<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">325
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">349
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Guanay
 Finance Ltd. 144A<BR> 6.000%, 12/15/20<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">312
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">315
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">ICAHN
 Enterprises LP 144A<BR> 6.250%, 5/15/26<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">250
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">248
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">iStar,
 Inc.<BR> 5.250%, 9/15/22 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">140
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">140
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Jefferies
 Financial Group, Inc.<BR> 5.500%, 10/18/23 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">240
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">255
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Jefferies
 Group LLC </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">6.875%,
 4/15/21 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">59
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">63
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">5.125%,
 1/20/23 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">95
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">101
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">4.850%,
 1/15/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">250
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">253
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">JPMorgan
 Chase &amp; Co.<BR> 3.300%, 4/1/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">920
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">931
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Kazakhstan
 Temir Zholy Finance BV 144A<BR> 6.950%, 7/10/42<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">535
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">640
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Liberty
 Mutual Group, Inc. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">144A
 4.250%, 6/15/23<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">135
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">142
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">144A
 4.569%, 2/1/29<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">475
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">506
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Morgan
 Stanley<BR> 6.375%, 7/24/42 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">410
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">550
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Financials&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Navient
 Corp.<BR> 6.750%, 6/25/25 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>295 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>299<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Prudential
 Financial, Inc. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">5.875%,
 9/15/42 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">165
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">173
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">5.625%,
 6/15/43<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(6)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">400
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">414
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Santander
 Holdings USA, Inc. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">4.450%,
 12/3/21 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">214
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">221
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">3.700%,
 3/28/22 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">343
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">349
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">4.400%,
 7/13/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">185
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">188
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Societe
 Generale S.A. 144A<BR> 4.750%, 11/24/25<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">500
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">517
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Springleaf
 Finance Corp.<BR> 6.875%, 3/15/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">180
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">188
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Synchrony
 Financial<BR> 3.950%, 12/1/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">360
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">348
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Synovus
 Financial Corp.<BR> 5.900%, 2/7/29 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">173
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">176
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Trinity
 Acquisition plc<BR> 4.400%, 3/15/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">200
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">210
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">UBS
 AG<BR> 7.625%, 8/17/22 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">630
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">696
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Wells
 Fargo &amp; Co. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">3.550%,
 9/29/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">285
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">293
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Series
 S<BR> 5.900%<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(7)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">310
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">319
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:6.71pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">20,453
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Health
 Care&#8212;1.5% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">AbbVie,
 Inc. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">3.600%,
 5/14/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">285
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">291
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">3.200%,
 5/14/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">305
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">301
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Allergan
 Funding SCS<BR> 3.450%, 3/15/22 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">540
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">543
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Bausch
 Health Cos., Inc. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">144A
 7.000%, 3/15/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">40
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">42
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">144A
 5.750%, 8/15/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">15
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">15
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Becton
 Dickinson &amp; Co. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">3.363%,
 6/6/24 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">159
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">161
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">3.700%,
 6/6/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">370
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">379
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">HCA,
 Inc.<BR> 5.375%, 2/1/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">325
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">340
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> <DIV style="padding-top:34pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:40pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">21</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Health
 Care&#8212;continued </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Mylan
 NV<BR> 3.950%, 6/15/26 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>480 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>451<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Par
 Pharmaceutical, Inc. 144A<BR> 7.500%, 4/1/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">125
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">121
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Perrigo
 Finance Unlimited Co.<BR> 4.375%, 3/15/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">320
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">315
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Zimmer
 Biomet Holdings, Inc.<BR> 3.550%, 4/1/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">665
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">674
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.41pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">3,633
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Industrials&#8212;0.9%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Avolon
 Holdings Funding Ltd. 144A<BR> 4.375%, 5/1/26<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">345
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">346
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Builders
 FirstSource, Inc. 144A<BR> 6.750%, 6/1/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">15
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">15
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">CNH
 Industrial N.V.<BR> 4.500%, 8/15/23 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">429
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">443
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Navistar
 International Corp. 144A<BR> 6.625%, 11/1/25<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">125
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">128
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Oshkosh
 Corp.<BR> 4.600%, 5/15/28 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">459
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">473
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Owens
 Corning<BR> 3.400%, 8/15/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">495
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">479
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">TransDigm,
 Inc.<BR> 6.375%, 6/15/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">130
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">128
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">United
 Airlines Pass-Through Trust 2007-1, A<BR> 6.636%, 7/2/22 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">333
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">351
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.41pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">2,363
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Information
 Technology&#8212;1.4% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Broadcom
 Corp. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">3.000%,
 1/15/22 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">185
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">184
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">3.625%,
 1/15/24 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">340
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">337
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Citrix
 Systems, Inc.<BR> 4.500%, 12/1/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">360
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">367
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Dell
 International LLC </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">144A
 6.020%, 6/15/26<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">100
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">108
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Information
 Technology&#8212;continued </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">144A
 8.100%, 7/15/36<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>230 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>276<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Go
 Daddy Operating Co., LLC 144A<BR> 5.250%, 12/1/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">150
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">151
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Hewlett
 Packard Enterprise Co.<BR> 4.900%, 10/15/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">465
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">496
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">IQVIA,
 Inc. 144A<BR> 5.000%, 5/15/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">55
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">56
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Motorola
 Solutions, Inc. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">4.600%,
 2/23/28 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">262
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">271
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">4.600%,
 5/23/29 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">135
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">138
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Verisk
 Analytics, Inc.<BR> 4.000%, 6/15/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">470
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">496
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">ViaSat,
 Inc. 144A<BR> 5.625%, 4/15/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">210
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">213
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">VMware,
 Inc. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2.950%,
 8/21/22 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">216
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">216
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">3.900%,
 8/21/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">233
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">230
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.41pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">3,539
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Materials&#8212;1.9%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Anglo
 American Capital plc 144A<BR> 4.000%, 9/11/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">300
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">294
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">ArcelorMittal
<BR> 6.125%, 6/1/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">450
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">497
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">BHP
 Billiton Finance USA Ltd. 144A<BR> 6.750%, 10/19/75<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)(6)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">410
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">460
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">CRH
 America Finance, Inc. 144A<BR> 3.400%, 5/9/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">425
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">416
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Glencore
 Funding LLC 144A<BR> 4.000%, 3/27/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">495
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">483
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Greif,
 Inc. 144A<BR> 6.500%, 3/1/27<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">165
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">166
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Inversiones
 CMPC S.A. 144A<BR> 4.375%, 5/15/23<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">935
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">957
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">NOVA
 Chemicals Corp. 144A<BR> 4.875%, 6/1/24<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">130
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">122
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> <DIV style="padding-top:28pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:40pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">22</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Materials&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">SABIC
 Capital II BV 144A<BR> 4.500%, 10/10/28<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>360 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>379<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Syngenta
 Finance N.V. 144A<BR> 4.441%, 4/24/23<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">430
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">443
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Vulcan
 Materials Co.<BR> 3.900%, 4/1/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">425
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">430
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.41pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">4,647
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Real
 Estate&#8212;1.9% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Alexandria
 Real Estate Equities, Inc.<BR> 3.950%, 1/15/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">300
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">310
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Corporate
 Office Properties LP<BR> 3.600%, 5/15/23 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">660
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">660
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">EPR
 Properties<BR> 4.750%, 12/15/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">620
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">650
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Healthcare
 Trust of America Holdings LP<BR> 3.750%, 7/1/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">435
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">440
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Hospitality
 Properties Trust<BR> 4.950%, 2/15/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">510
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">520
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Kilroy
 Realty LP<BR> 4.375%, 10/1/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">475
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">502
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Life
 Storage LP<BR> 3.875%, 12/15/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">165
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">166
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">LifeStorage
 LP<BR> 3.500%, 7/1/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">455
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">447
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">MPT
 Operating Partnership LP<BR> 5.000%, 10/15/27 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">170
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">168
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Office
 Properties Income Trust<BR> 4.500%, 2/1/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">470
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">459
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Physicians
 Realty LP<BR> 3.950%, 1/15/28 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">435
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">426
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.41pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">4,748
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Utilities&#8212;1.6%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">American
 Electric Power Co., Inc. Series I<BR> 3.650%, 12/1/21 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">158
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">162
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Utilities&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">CenterPoint
 Energy, Inc.<BR> 4.250%, 11/1/28 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>410 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>437<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">DPL,
 Inc. 144A<BR> 4.350%, 4/15/29<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">204
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">209
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Duke
 Energy Corp.<BR> 2.650%, 9/1/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">505
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">487
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Exelon
 Corp.<BR> 3.497%, 6/1/22 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">605
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">616
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">FirstEnergy
 Transmission LLC 144A<BR> 4.350%, 1/15/25<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">520
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">549
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Pennsylvania
 Electric Co. 144A<BR> 3.600%, 6/1/29<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">375
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">379
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">PSEG
 Power LLC<BR> 3.850%, 6/1/23 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">373
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">385
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Southern
 Power Co.<BR> 4.150%, 12/1/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">480
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">505
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">TerraForm
 Power Operating LLC 144A<BR> 5.000%, 1/31/28<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">215
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">207
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.41pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">3,936
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:2.5pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:2.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:2.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:72.70%;" colspan="2">Total
 Corporate Bonds and Notes<BR> <FONT style="text-transform:none;">(Identified Cost $59,444)</FONT> </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:7.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">60,109
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:100%;" colspan="4">Leveraged
 Loans<SUP style="font-size:85%;font-style:Normal;text-transform:uppercase;vertical-align:text-top;">(2)</SUP>&#8212;3.3% </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Aerospace&#8212;0.1%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Atlantic
 Aviation FBO, Inc. (1 month LIBOR + 3.750%)<BR> 6.190%, 12/6/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">45
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">45
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">TransDigm,
 Inc. 2018, Tranche E (1 month LIBOR + 2.500%)<BR> 4.939%, 5/30/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">124
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">121
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:15.92pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">166
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Consumer
 Durables&#8212;0.1% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Global
 Appliance, Inc. Tranche B (1 month LIBOR + 4.000%)<BR> 6.440%, 9/29/24 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">210
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">209
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> <DIV style="padding-top:46pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">23</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Consumer
 Non-Durables&#8212;0.1% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Kronos
 Acquisition Intermediate, Inc. (1 month LIBOR + 4.000%)<BR> 6.428%, 5/15/23 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>280 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:2pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>264<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Energy&#8212;0.1%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1.88pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">CITGO
 Petroleum Corp. 2019 Tranche B (3 month LIBOR + 5.000%)<BR> 7.600%, 3/28/24 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">165
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">165
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Financial&#8212;0.1%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1.88pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Refinitiv
 US Holdings, Inc. (1 month LIBOR + 3.750%)<BR> 6.189%, 10/1/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">274
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">267
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Food
 / Tobacco&#8212;0.2% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1.88pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Aramark
 Intermediate HoldCo Corp. Tranche B-3 (1 month LIBOR + 1.750%)<BR> 4.189%, 3/11/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">154
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">153
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">CHG
 PPC Parent LLC First Lien (1 month LIBOR + 2.750%)<BR> 5.189%, 3/31/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">139
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">137
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">H-Food
 Holdings, LLC </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">(1
 month LIBOR + 3.688%)<BR> 6.126%, 5/23/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">35
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">34
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">2018,
 Tranche B-2 (1 month LIBOR + 4.000%)<BR> 6.439%, 5/23/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">174
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">172
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:15.92pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">496
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Forest
 Prod / Containers&#8212;0.1% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Berry
 Global, Inc. Tranche U (3 month LIBOR + 2.500%)<BR> 0.000%, 5/15/26<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(8)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">240
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">239
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Gaming
 / Leisure&#8212;0.4% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Scientific
 Games International, Inc. Tranche B-5 (1 month LIBOR + 2.750%)<BR> 5.223%, 8/14/24 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>208 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>204<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Seminole
 Tribe of Florida 2018, Tranche B (1 month LIBOR + 1.750%)<BR> 4.189%, 7/8/24 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">266
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">265
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Station
 Casinos LLC Tranche B (1 month LIBOR + 2.500%)<BR> 4.940%, 6/8/23 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">239
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">237
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Wyndham
 Hotels &amp; Resorts, Inc. Tranche B (1 month LIBOR + 1.750%)<BR> 4.189%, 5/30/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">224
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">223
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:15.92pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">929
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Healthcare&#8212;0.4%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Bausch
 Health Cos., Inc. </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">(1
 month LIBOR + 2.750%)<BR> 5.217%, 11/27/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">71
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">71
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.5pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">(1
 month LIBOR + 3.000%)<BR> 5.467%, 6/2/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">42
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">41
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">CHG
 Healthcare Services, Inc. 2017, First Lien (1 month LIBOR + 3.000%)<BR> 5.439%, 6/7/23 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">293
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">292
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Iqvia,
 Inc. Tranche B-3 (1 month LIBOR + 1.750%)<BR> 4.189%, 6/11/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">273
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">271
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">NVA
 Holdings, Inc. Tranche B-4 (1 month LIBOR + 3.500%)<BR> 5.939%, 2/2/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:22.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">20
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:19.50pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">20
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> <DIV style="padding-top:54pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:64pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">24</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Healthcare&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Regionalcare
 Hospital Partners Holdings, Inc. Tranche B (1 month LIBOR + 4.500%)<BR> 6.930%, 11/16/25 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>284 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:2pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>283<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:15.92pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">978
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Housing&#8212;0.5%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">American
 Builders &amp; Contractors Supply Co., Inc. Tranche B-2 (1 month LIBOR + 2.000%)<BR> 4.439%, 10/31/23 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">346
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">341
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Capital
 Automotive LP Tranche B-2 (1 month LIBOR + 2.500%)<BR> 4.940%, 3/25/24 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">378
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">373
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">CPG
 International LLC (3 month LIBOR + 3.750%)<BR> 6.633%, 5/5/24 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">254
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">251
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Summit
 Materials, LLC (1 month LIBOR + 2.000%)<BR> 4.439%, 11/21/24 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">279
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">277
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.41pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">1,242
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Information
 Technology&#8212;0.1% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Boxer
 Parent Co., Inc. (3 month LIBOR + 4.250%)<BR> 6.851%, 10/2/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">284
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">279
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Media
 / Telecom - Cable/Wireless<BR> Video&#8212;0.0% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1.88pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">CSC
 Holdings LLC 2018 (1 month LIBOR + 2.250%)<BR> 4.690%, 1/15/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">115
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">113
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Media
 / Telecom - Diversified<BR> Media&#8212;0.1% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Crown
 Finance US, Inc. (1 month LIBOR + 2.250%)<BR> 4.689%, 2/28/25 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>243 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:2pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>239<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Media
 / Telecom -<BR> Telecommunications&#8212;0.2% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1.88pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">CenturyLink,
 Inc. Tranche B (1 month LIBOR + 2.750%)<BR> 5.189%, 1/31/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">494
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">480
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Media
 / Telecom - Wireless<BR> Communications&#8212;0.1% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1.88pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Commscope,
 Inc. (1 month LIBOR + 3.250%)<BR> 5.689%, 4/6/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">240
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">239
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">SBA
 Senior Finance II LLC (1 month LIBOR + 2.000%)<BR> 4.440%, 4/11/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">154
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">151
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:15.92pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">390
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Service&#8212;0.4%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Dun
 &amp; Bradstreet Corp. (The) (1 month LIBOR + 5.000%)<BR> 7.430%, 2/6/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">255
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">254
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Red
 Ventures LLC Tranche B-1 (1 month LIBOR + 3.000%)<BR> 5.439%, 11/8/24 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">259
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">258
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Sedgwick
 Claims Management Services, Inc. (1 month LIBOR + 3.250%)<BR> 5.689%, 12/31/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">290
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">286
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> <DIV style="padding-top:85pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:96pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">25</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">Par
 Value </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Service&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">TKC
 Holdings, Inc. First Lien (1 month LIBOR + 3.750%)<BR> 6.190%, 2/1/23 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:25.41%;">$
<FONT style="padding-left:13.12pt;"></FONT>189 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:2pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:10.00pt;"></FONT>187<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:15.92pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">985
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Transportation
 - Automotive&#8212;0.1% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Navistar,
 Inc. Tranche B (1 month LIBOR + 3.500%)<BR> 5.960%, 11/6/24 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">217
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">217
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Panther
 BF Aggregator 2 LP First Lien (1 month LIBOR + 3.500%)<BR> 5.929%, 4/30/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">155
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">154
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:15.92pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">371
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Utility&#8212;0.2%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Brookfield
 WEC Holdings, Inc. First Lien (1 month LIBOR + 3.500%)<BR> 5.939%, 8/1/25 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">219
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">219
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Calpine
 Corp. 2019 (3 month LIBOR + 2.750%)<BR> 5.340%, 4/5/26 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:3pt;padding-left:18.88pt;padding-right:3.5pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:25.41%;">275
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:15.75pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">273
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:15.92pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">492
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:2.5pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:2.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:2.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:2pt;text-align:left; text-decoration:none;text-transform:uppercase;vertical-align:bottom;width:72.70%;" colspan="2">Total
 Leveraged Loans<BR> <FONT style="text-transform:none;">(Identified Cost $8,385)</FONT> </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:11.0pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">8,304
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
<DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-bottom:3pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:3pt;padding-left:2pt;padding-right:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:27.41%;">Shares
 </TD>
<TD style="line-height:7pt;padding-bottom:3pt;text-align:center;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-top:1.88pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:100%;" colspan="3">Preferred
 Stocks&#8212;0.8% </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:74.70%;" colspan="2">Financials&#8212;0.8%
 </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Bank
 of New York Mellon Corp. (The) Series E, 4.950% </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16.17pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:27.41%;">255
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(9)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:21.00pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">257
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">JPMorgan
 Chase &amp; Co. Series Z, 5.300% </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16.17pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:27.41%;">550
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(9)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:21.00pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">557
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">KeyCorp
 Series D, 5.000%<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(10)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16.17pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:27.41%;">270
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(9)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:21.00pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">270
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">M&amp;T
 Bank Corp. Series F, 5.125%<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(10)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16.17pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:27.41%;">229
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(9)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:21.00pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">235
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">MetLife,
 Inc. Series D, 5.875% </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:16.17pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:27.41%;">156
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(9)</SUP> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:21.00pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">162
 </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-bottom:3pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:3pt;padding-left:2pt;padding-right:3.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">Shares
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:3pt;padding-left:2pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Financials&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1.88pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">PNC
 Financial Services Group, Inc. (The) Series S, 5.000%<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:16.17pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">485
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(9)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:2pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:13.75pt;"></FONT>486 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:14.16pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">1,967
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:2.5pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:2.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:2.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:72.70%;" colspan="2">Total
 Preferred Stocks<BR> <FONT style="text-transform:none;">(Identified Cost $1,970)</FONT> </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:14.75pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">1,967
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:100%;" colspan="4">Common
 Stocks&#8212;82.6% </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Communication
 Services&#8212;10.1% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">AT&amp;T,
 Inc. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">170,743
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">5,221
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">BCE,
 Inc. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">238,630
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:10.12pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">10,746
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Spark
 New Zealand Ltd. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">3,747,644
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">9,353
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.46pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">25,320
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Consumer
 Discretionary&#8212;3.0% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Compass
 Group plc Sponsored ADR </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">94,578
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">2,140
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Las
 Vegas Sands Corp. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">94,900
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">5,220
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:14.16pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">7,360
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Consumer
 Staples&#8212;5.7% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Clorox
 Co. (The) </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">12,620
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">1,878
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Coca-Cola
 Co. (The) </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">135,660
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">6,665
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Tate
 &amp; Lyle plc </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">613,953
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">5,606
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.46pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">14,149
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Energy&#8212;8.7%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">ONEOK,
 Inc. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">87,700
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">5,579
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Royal
 Dutch Shell plc Sponsored Class B ADR </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">139,880
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">8,793
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">TOTAL
 S.A. Sponsored ADR </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">63,850
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">3,288
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Vermilion
 Energy, Inc. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">190,388
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">3,991
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.46pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">21,651
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Financials&#8212;17.3%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Bank
 of Hawaii Corp. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">30,420
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">2,302
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">HSBC
 Holdings plc </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">243,930
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">1,989
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">HSBC
 Holdings plc Sponsored ADR </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">133,455
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">5,441
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Royal
 Bank of Canada </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">88,299
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">6,636
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Sabre
 Insurance Group plc </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">1,641,620
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">5,292
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">SCOR
 SE Sponsored ADR </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">416,228
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">1,700
 </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> <DIV style="padding-top:26pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:29pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">26</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">Shares
 </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Financials&#8212;continued
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Tokio
 Marine Holdings, Inc. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">72,370
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:8.12pt;"></FONT>3,607 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Tryg
 A/S </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">173,457
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">5,434
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Zurich
 Insurance Group AG </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:15.12pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">8,190
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">2,657
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Zurich
 Insurance Group AG ADR </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">246,970
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">8,003
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.46pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">43,061
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Health
 Care&#8212;6.4% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">AstraZeneca
 plc Sponsored ADR </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">48,088
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">1,798
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">GlaxoSmithKline
 plc </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">94,260
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">1,820
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">GlaxoSmithKline
 plc Sponsored ADR </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">146,160
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">5,648
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Merck
 &amp; Co., Inc. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">27,590
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">2,185
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Sonic
 Healthcare Ltd. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">95,000
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">1,723
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Sonic
 Healthcare Ltd. Sponsored ADR </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">157,944
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">2,857
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.46pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">16,031
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Industrials&#8212;7.1%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">ABB
 Ltd. Registered Shares </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">192,840
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">3,539
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Port
 of Tauranga Ltd. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">558,800
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">2,212
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Waste
 Management, Inc. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">22,260
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">2,434
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Watsco,
 Inc. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">61,289
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">9,646
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.46pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">17,831
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Information
 Technology&#8212;5.7% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Analog
 Devices, Inc. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">27,350
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">2,642
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Cisco
 Systems, Inc. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">41,930
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">2,182
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Paychex,
 Inc. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">37,810
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">3,244
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Tieto
 OYJ </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">221,552
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">6,237
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.46pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">14,305
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Materials&#8212;1.8%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Sonoco
 Products Co. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">72,717
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">4,496
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Real
 Estate&#8212;9.5% </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1.88pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Crown
 Castle International Corp. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:8pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">63,230
 </TD>
<TD style="line-height:0pt;padding-bottom:8pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:8pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">8,220
 </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;padding-right:3.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">Shares
 </TD>
<TD style="line-height:0pt;padding-right:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Real
 Estate&#8212;continued </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Lamar
 Advertising Co. Class A </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">111,161
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:8.12pt;"></FONT>8,694 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Realty
 Income Corp. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">96,375
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">6,754
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.46pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">23,668
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:72.70%;" colspan="2">Utilities&#8212;7.3%
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">Fortis,
 Inc. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:7.62pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">201,640
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">7,624
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">NextEra
 Energy, Inc. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">22,000
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">4,360
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">WEC
 Energy Group, Inc. </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:11.38pt;padding-right:3.5pt;padding-top:1pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">78,220
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">6,301
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;line-height:8pt;padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:10.46pt;padding-top:1.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">18,285
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:2.5pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:2.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:2.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:72.70%;" colspan="2">Total
 Common Stocks<BR> <FONT style="text-transform:none;">(Identified Cost $199,838)</FONT> </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:7.25pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">206,157
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:72.70%;" colspan="2">Total
 Long-Term Investments&#8212;137.2%<BR> <FONT style="text-transform:none;">(Identified Cost $333,836)</FONT> </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:bold;font-weight:bold; line-height:11pt;line-height:11pt;padding-left:7.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;
">342,350
<FONT style="padding-left:0.06pt;"><SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(11)</SUP></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:2.5pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:2.5pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:2.5pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:100%;" colspan="4">Short-Term
 Investments&#8212;0.6% </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:100%;" colspan="4">Purchased
 Options&#8212;0.1% </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">(See
 open purchased<BR> options schedule) </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Total
 Purchased Options<BR> (Premiums paid $119) </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;padding-top:1pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:bold;font-weight:bold; line-height:11pt;line-height:11pt;padding-left:21.00pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:26.20%;">143
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="4">Money
 Market Mutual Fund&#8212;0.5% </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:5.5pt;padding-left:8pt;padding-right:2pt; padding-top:1pt;text-align:left;text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:47.29%;">Dreyfus
 Government Cash Management Fund - Institutional Shares (seven-day effective yield 2.276%) Class I<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(12)</SUP> </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:5.5pt;padding-left:2pt;padding-right:3.5pt; padding-top:1pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:25.41%;">1,269,245
 </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:5.5pt;padding-right:2pt;padding-top:1pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:5.5pt;padding-left:13.87pt;padding-top:1pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:26.20%;">1,269
<FONT style="padding-left:0.06pt;"><SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(11)</SUP></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:2.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">Total
 Money Market Mutual Fund<BR> (Identified Cost $1,269) </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;padding-top:2.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:14.75pt;padding-top:2.5pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">1,269
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:72.70%;" colspan="2">Total
 Short-Term Investments<BR> <FONT style="text-transform:none;">(Identified Cost $1,388)</FONT> </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:bold;font-weight:bold; line-height:11pt;line-height:11pt;padding-left:14.75pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;
">1,412
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:25.41%;">&#160; </TD>
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:2pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:72.70%;" colspan="2">TOTAL
 INVESTMENTS, BEFORE WRITTEN OPTIONS<FONT style="font-weight:Normal;">&#8212;</FONT>137.8%<BR> (Identified Cost $335,224) </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:3pt;padding-right:3.5pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:3.5pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">$343,762
 </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV> <DIV style="padding-top:61pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:64pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">27</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;"> <DIV style="float:left;overflow:hidden;position:relative;width:49%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="line-height:0pt;padding-right:3.5pt;text-align:center;vertical-align:bottom;width:27.41%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:3.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:27.41%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;text-align:right;vertical-align:bottom;width:27.41%;">&#160; </TD>
<TD style="text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-top:3.5pt;text-align:left;text-decoration:none; text-transform:uppercase;vertical-align:bottom;width:100%;" colspan="3">Written
 Options&#8212;(0.2)% </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:47.29%;">(See
 open written options<BR> schedule) </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:3.5pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:27.41%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.70%;" colspan="2">Total
 Written Options<BR> (Premiums received $281) </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;padding-top:1pt;text-align:right;text-decoration:none; text-transform:none;vertical-align:bottom;width:26.20%;">$
<FONT style="padding-left:11.25pt;"></FONT><FONT style="font-weight:bold;">(518</FONT><FONT style="padding-left:0.06pt;"></FONT><FONT style="font-weight:bold;">)</FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="padding-right:2pt;padding-top:1.88pt;text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD>
<TD style="padding-right:3.5pt;padding-top:1.88pt;text-align:right;vertical-align:bottom;width:27.41%;">&#160; </TD>
<TD style="padding-top:1.88pt;text-align:right;vertical-align:bottom;width:26.20%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="text-align:left;vertical-align:bottom;width:47.29%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:74.70%;" colspan="2">TOTAL
 INVESTMENTS, NET OF WRITTEN OPTIONS&#8212;137.6%<BR> (Identified Cost $334,943) </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:2pt;text-align:right;text-decoration:none;text-transform:none; vertical-align:bottom;white-space:nowrap;width:26.20%;">$343,244
<FONT style="padding-left:0.06pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:2pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.70%;" colspan="2">Other
 assets and liabilities, net&#8212;(37.6)% </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:7.62pt;padding-top:1pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:26.20%;">(93,764
<FONT style="padding-left:0.06pt;"></FONT>) </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:2pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.70%;" colspan="2">NET
 ASSETS&#8212;100.0% </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.5pt;padding-left:2pt;padding-top:1.88pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:26.20%;">$249,480
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
<DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:100%;" colspan="2">Abbreviations:
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;white-space:nowrap;width:13.22%;">ADR
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:87.39%;">American
 Depositary Receipt </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;white-space:nowrap;width:13.22%;">LIBOR
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:87.39%;">London
 Interbank Offered Rate </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;white-space:nowrap;width:13.22%;">LLC
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:87.39%;">Limited
 Liability Company </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;white-space:nowrap;width:13.22%;">LP
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:87.39%;">Limited
 Partnership </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
<DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;padding-top:6pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:100%;" colspan="2">Footnote
 Legend: </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:1.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:7.22%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;padding-top:1.25pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:93.68%;">Security
 exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At May 31, 2019, these securities amounted to a value of
$58,905 or 23.6% of net assets. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:0pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:top;width:7.22%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:2pt;padding-top:1.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:93.68%;">Variable
 rate security. Rate disclosed is as of May 31, 2019. For leveraged loans, the rate shown may represent a weighted average interest rate. Information in parenthesis represents benchmark and reference rate for each security. Certain variable rate
securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or, for mortgage-backed securities, are impacted by the individual mortgages which are paying off
over time. These securities do not indicate a reference rate and spread in their descriptions. </TD></TR></TABLE> </DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block"> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:6pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:7.22%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(3)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;padding-top:6pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:93.68%;">The
value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:1.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:7.22%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;padding-top:1.25pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:93.68%;">All
or a portion of the security is segregated as collateral for written options. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:1.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:7.22%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(5)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;padding-top:1.25pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:93.68%;">Regulation
 S security. Security is offered and sold outside of the United States; therefore, it is exempt from registration with the SEC under Rules 903 and 904 of the Securities Act of 1933. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:1.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:7.22%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(6)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;padding-top:1.25pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:93.68%;">Interest
 payments may be deferred. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:1.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:7.22%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(7)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;padding-top:1.25pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:93.68%;">No
contractual maturity date. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:1.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:7.22%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(8)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;padding-top:1.25pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:93.68%;">This loan
 will settle after May 31, 2019, at which time the interest rate, based on the London Interbank Offered Rate (&#8220;LIBOR&#8221;) and the agreed upon spread on trade date, will be reflected. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:1.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:7.22%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(9)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;padding-top:1.25pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:93.68%;">Value
 shown as par value. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:1.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:7.22%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(10)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;padding-top:1.25pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:93.68%;">Interest
 may be forfeited. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;padding-top:1.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:7.22%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(11)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;padding-top:1.25pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:93.68%;">All
or a portion of the portfolio segregated as collateral for borrowings. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:0pt;padding-right:2pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:top;width:7.22%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(12)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:2pt;padding-top:1.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:93.68%;">Shares
 of this fund are publicly offered, and its prospectus and annual report are publicly available. </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; <DIV style="clear:both;width:100%;" type="Block"> </DIV> </DIV>
<DIV style="padding-top:49pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:219pt;text-align:center;text-decoration:none;text-transform:none;">For
information regarding the abbreviations, see the Key Investment Terms starting on page 10.</DIV> </DIV> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:1pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:3.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">28</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="width:100%;" type="Block"> <DIV style="text-align:left;">
<TABLE style="border-collapse:separate;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="6">Open
 Purchased Options Contracts as of May 31, 2019 were as follows: </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt; padding-right:9pt;padding-top:1.38pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:29.84%;">Description
 of Options </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt; padding-right:9pt;padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:16.88%;">Number
 of<BR> Contracts </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt; padding-right:9pt;padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:14.83%;">Contract
<BR> Notional<BR> Amount </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt; padding-right:9pt;padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.09%;">Strike
<BR> Price<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt; padding-right:9pt;padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:16.65%;">Expiration
<BR> Date </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt; padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.34%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:1.38pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:29.84%;">Call
 Options </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:16.88%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:14.83%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:13.09%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:16.65%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:11.34%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.84%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">97
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:14.83%;">$29,391
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:13.09%;">$3,030
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/3/19
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-top:0.62pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:11.34%;">$
<FONT style="padding-left:5.34pt;"></FONT>&#8212; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.84%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">97
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">29,391
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">3,030
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/5/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:18.78pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.34%;
">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.84%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">96
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">28,992
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">3,020
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/7/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:18.78pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.34%;
">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.84%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">97
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">29,100
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">3,000
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/10/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:18.78pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.34%;
">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.84%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">77
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">23,100
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">3,000
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/12/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:18.78pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.34%;
">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:29.84%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">96
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:2.5pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">28,416
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:2.5pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,960
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/14/19
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal; line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:24.78pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.34%;">&#8212;
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:left;vertical-align:bottom;width:29.84%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:16.88%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:14.83%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:13.09%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:16.65%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:24.78pt; padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.34%;">&#8212;
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:1.38pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:29.84%;">Put
 Options </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:16.88%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:14.83%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:13.09%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:16.65%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:11.34%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.84%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">97
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">25,608
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,640
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/3/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:22.34pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.34%;
">2
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.84%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">97
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">25,996
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,680
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/5/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:17.89pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.34%;
">40
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.84%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">96
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">25,248
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,630
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/7/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:17.89pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.34%;
">24
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.84%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">97
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">25,560
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,635
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/10/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:17.89pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.34%;
">39
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.84%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">77
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">19,712
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,560
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/12/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:17.89pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.34%;
">14
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:29.84%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">96
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:2.5pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">24,480
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:2.5pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,550
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/14/19
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal; line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:17.89pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.34%;">24
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:left;vertical-align:bottom;width:29.84%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:16.88%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:14.83%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:13.09%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:16.65%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:13.45pt; padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.34%;">143
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:9pt;padding-top:1.38pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:29.84%;">Total
 Purchased Options </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:9pt;padding-right:9pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:61.45%;" colspan="4">&#8199;
 </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:9pt;padding-top:1.38pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.34%;">$143
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
<DIV style="text-align:left;">
<TABLE style="border-collapse:separate;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:100%;" colspan="6">Open
 Written Options Contracts as of May 31, 2019 were as follows: </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt; padding-right:9pt;padding-top:1.38pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:29.19%;">Description
 of Options </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt; padding-right:9pt;padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:16.88%;">Number
 of<BR> Contracts </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt; padding-right:9pt;padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:14.83%;">Contract
<BR> Notional<BR> Amount </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt; padding-right:9pt;padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.09%;">Strike
<BR> Price<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt; padding-right:9pt;padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:16.65%;">Expiration
<BR> Date </TD>
<TD style="border-bottom:0.5pt solid #000000;border-top:0.5pt SOLID #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt; padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.99%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:1.38pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:29.19%;">Call
 Options </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:16.88%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:14.83%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:13.09%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:16.65%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:11.99%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.19%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">97
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:14.83%;">$28,809
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:13.09%;">$2,970
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/3/19
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-top:0.62pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:11.99%;">$
<FONT style="padding-left:10.66pt;"></FONT>&#8212; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.19%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">97
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">28,809
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,970
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/5/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:30.11pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.99%;
">&#8212;
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.19%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">96
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">28,416
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,960
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/7/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:25pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.99%;
">(1)
<FONT style="padding-left:-2.66pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.19%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">97
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">28,518
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,940
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/10/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:25pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.99%;
">(1)
<FONT style="padding-left:-2.66pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.19%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">77
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">22,523
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,925
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/12/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:25pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.99%;
">(1)
<FONT style="padding-left:-2.66pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:29.19%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">96
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:2.5pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">27,840
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:2.5pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,900
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/14/19
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal; line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:25pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.99%;">(5)
<FONT style="padding-left:-2.66pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:left;vertical-align:bottom;width:29.19%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:16.88%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:14.83%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:13.09%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:16.65%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:25pt;padding-top:1.38pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.99%;">(8)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:1.38pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:29.19%;">Put
 Options </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:16.88%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:14.83%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:13.09%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:16.65%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.62pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:11.99%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.19%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">97
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">26,190
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,700
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/3/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:20.55pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.99%;
">(18)
<FONT style="padding-left:-2.66pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.19%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">97
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">26,578
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,740
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/5/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:16.11pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.99%;
">(179)
<FONT style="padding-left:-2.66pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.19%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">96
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">25,824
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,690
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/7/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:20.55pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.99%;
">(91)
<FONT style="padding-left:-2.66pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.19%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">97
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">26,141
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,695
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/10/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:16.11pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.99%;
">(119)
<FONT style="padding-left:-2.66pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:29.19%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">77
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">20,290
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,635
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.62pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/12/19
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:0.62pt;padding-left:20.55pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.99%;
">(46)
<FONT style="padding-left:-2.66pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:9pt;padding-top:0.62pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:29.19%;">S&amp;P
 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.88%;">96
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:2.5pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.83%;">25,056
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:2.5pt;padding-left:13.45pt;padding-right:9pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.09%;">2,610
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt;padding-right:9pt;padding-top:0.62pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.65%;">6/14/19
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal; line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:20.55pt;padding-top:0.62pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.99%;">(57)
<FONT style="padding-left:-2.66pt;"></FONT> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:left;vertical-align:bottom;width:29.19%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:16.88%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:14.83%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:13.09%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:2.5pt;padding-right:9pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:16.65%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:16.11pt;padding-top:1.38pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.99%;">(510)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:9pt;padding-top:1.38pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:29.19%;">Total
 Written Options </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:9pt;padding-right:9pt;padding-top:1.38pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:61.45%;" colspan="4">&#8199;
 </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:9pt;padding-top:1.38pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:11.99%;">$
<FONT style="padding-left:2.66pt;"></FONT>(518) </TD></TR></TABLE> </DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0pt;padding-top:3pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:100%;" colspan="2">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">Footnote Legend:</SUP> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-left:0pt;padding-right:1pt;padding-top:1.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:2.50%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8.5pt;font-style:Normal;font-weight:Normal;line-height:11.5pt;padding-left:1pt;padding-top:1.25pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:97.79%;">Strike
 price not reported in thousands. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:1pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:top;width:2.50%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8.5pt;font-style:Normal;font-weight:Normal;line-height:11.5pt;padding-bottom:3pt;padding-left:1pt;padding-top:1.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:97.79%;">Amount
 is less than $500. </TD></TR></TABLE> </DIV> </DIV> <DIV style="width:100%;" type="Block"> </DIV> <DIV style="margin-top:41.5pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:42pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:7.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">29</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SCHEDULE OF INVESTMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:5pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">The following table summarizes the market value of the
Fund&#8217;s investments as of May 31, 2019, based on the inputs used to value them (See Security Valuation Note 2A in the Notes to Financial Statements):</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-bottom:3pt;padding-right:14pt;padding-top:3pt;text-align:left;vertical-align:bottom;width:43.68%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:3pt;padding-left:14pt;padding-right:14pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:12.93%;">Total
<BR> Value at<BR> May 31, 2019 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:14pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:3pt;padding-left:14pt;padding-right:14pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.25%;">Level
 1<BR> Quoted Prices </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:14pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:3pt;padding-left:14pt;padding-right:14pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:11.07%;">Level
 2<BR> Significant<BR> Observable<BR> Inputs </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:14pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:3pt;padding-left:14pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:15.11%;">Level
 3<BR> Significant<BR> Unobservable<BR> Inputs </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:14pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:43.68%;">Assets:
 </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:bottom;width:12.93%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:bottom;width:13.25%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:bottom;width:11.07%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1.88pt;text-align:center;vertical-align:bottom;width:15.11%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:14pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">Debt
 Securities: </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:12.93%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:13.25%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:11.07%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:15.11%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:14pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">Asset-Backed
 Securities </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:14pt;padding-right:14pt;padding-top:1pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:12.93%;">$
<FONT style="padding-left:4pt;"></FONT>14,749 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:14pt;padding-right:14pt;padding-top:1pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:13.25%;">$
<FONT style="padding-left:18pt;"></FONT>&#8212; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:14pt;padding-right:14pt;padding-top:1pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:11.07%;">$
<FONT style="padding-left:4pt;"></FONT>14,749 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:14pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:15.11%;">$
<FONT style="padding-left:4pt;"></FONT>&#8212; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:14pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">Corporate
 Bonds and Notes </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.93%;">60,109
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:36pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.25%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.07%;">60,109
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:15.11%;">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:14pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">Foreign
 Government Securities </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:26pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.93%;">1,468
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:36pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.25%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:26pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.07%;">1,468
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:15.11%;">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:14pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">Leveraged
 Loans </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:26pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.93%;">8,304
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:36pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.25%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:26pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.07%;">8,304
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:15.11%;">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:14pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">Mortgage-Backed
 Securities </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.93%;">31,864
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:36pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.25%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.07%;">31,754
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:15.11%;">110
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:14pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">Municipal
 Bonds </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:26pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.93%;">2,901
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:36pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.25%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:26pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.07%;">2,901
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:15.11%;">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:14pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">U.S.
 Government Securities </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.93%;">14,831
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:36pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.25%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.07%;">14,831
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:15.11%;">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:14pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">Equity
 Securities: </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:12.93%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:13.25%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:11.07%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:15.11%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:14pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">Common
 Stocks </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.93%;">206,157
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:18pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.25%;">206,157
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:36pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.07%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:15.11%;">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:14pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">Preferred
 Stocks </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:26pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.93%;">1,967
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:36pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.25%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:26pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.07%;">1,967
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:15.11%;">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:14pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">Money
 Market Mutual Fund </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:26pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.93%;">1,269
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:26pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.25%;">1,269
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:36pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.07%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:22pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:15.11%;">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:14pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">Purchased
 Options </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:32pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.93%;">143
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:32pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.25%;">119
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:36pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.07%;">24
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:22pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:15.11%;">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:14pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">Total
 Investments, before Written Options </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:18pt;padding-right:14pt; padding-top:1.88pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.93%;">343,762
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:18pt;padding-right:14pt; padding-top:1.88pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.25%;">207,545
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:18pt;padding-right:14pt; padding-top:1.88pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.07%;">136,107
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:18pt;padding-top:1.88pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.11%;">110
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:14pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:43.68%;">Liabilities:
 </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:bottom;width:12.93%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:bottom;width:13.25%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:bottom;width:11.07%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1pt;padding-top:1.88pt;text-align:center;vertical-align:bottom;width:15.11%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:14pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">Written
 Options </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:29.34pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.93%;">(518)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:29.34pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.25%;">(455)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:33.34pt;padding-right:14pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.07%;">(63)
 </TD>
<TD style="line-height:0pt;padding-bottom:3pt;padding-right:14pt;padding-top:1pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:3pt;padding-left:22pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:15.11%;">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:14pt;padding-top:1.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:43.68%;">Total
 Investments, Net of Written Options </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:14pt;padding-right:14pt; padding-top:1.88pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.93%;">$343,244
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:14pt;padding-right:14pt; padding-top:1.88pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.25%;">$207,090
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:14pt;padding-right:14pt; padding-top:1.88pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.07%;">$136,044
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:14pt;padding-top:1.88pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:14pt;padding-top:1.88pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:15.11%;">$110
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">There were no transfers into
or out of Level 3 related to securities held at May 31, 2019.</DIV>
<DIV style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">Some of the Fund&#8217;s investments that were
categorized as Level 3 were valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value
of Level 3 investments.</DIV> <DIV style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">Management has determined
that the amount of Level 3 securities compared to total net assets is not material; therefore, the rollforward of Level 3 securities and assumptions are not shown for the period ended May 31, 2019.</DIV> </DIV> <DIV style="width:100%;" type="Block">
</DIV> <DIV style="margin-top:155pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to
Financial Statements.</DIV> </DIV> <DIV style="margin-top:7.79pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">30</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">STATEMENT OF ASSETS AND LIABILITIES (Unaudited)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">(Reported in
thousands except shares and per share amounts)</DIV> </DIV> <DIV style="margin-top:1pt;width:100%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:82.22%;">Assets
 </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Investment in securities at value (Identified cost
$335,224)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:5pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:19.24%;">$
<FONT style="padding-left:0.66pt;"></FONT>343,762 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Foreign currency at value (Identified cost
$265)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:23.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">265
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Cash
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:17.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">2,983
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:82.22%;">Receivables
 </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Investment securities sold
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:23.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">682
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Dividends and
interest</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:17.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">1,579
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Tax reclaims
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:23.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">568
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Prepaid Directors&#8217;
retainer</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:27.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">27
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Prepaid expenses
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:27.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:19.24%;">27
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:40pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Total
assets</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:9.66pt;padding-top:1.75pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">349,893
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:82.22%;">Liabilities
 </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.75pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Borrowings&#8201;(Note
8)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">97,500
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Written options at value (Premiums received $281)&#8201;(Note
3)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:23.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">518
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:82.22%;">Payables
 </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Investment securities purchased
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:17.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">1,984
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Investment advisory fees
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:23.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">208
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Professional fees
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:27.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">45
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Administration and accounting
fees</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:27.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">34
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Interest on borrowings&#8201;(Note
8)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:27.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">34
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Transfer agent fees and expenses
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:27.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">17
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Other accrued
expenses</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:27.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:19.24%;">73
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:40pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Total
liabilities</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:9.66pt;padding-top:1.75pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">100,413
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.38pt;padding-left:0pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Net
Assets</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.38pt;padding-left:5pt;padding-top:1.75pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">$249,480
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:2.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">Net
 Assets Consist of: </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:2.38pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Common stock ($0.001 par value; 500,000,000 shares
authorized)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:5pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:19.24%;">$
<FONT style="padding-left:18.66pt;"></FONT>25 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Capital paid in on shares of beneficial
interest</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:9.66pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">278,675
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Total distributable earnings
(loss)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:11pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:19.24%;">(29,220)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.38pt;padding-left:0pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Net
Assets</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.38pt;padding-left:5pt;padding-top:1.75pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">$249,480
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:2.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">Net
 Asset Value Per Share </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:2.38pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">(Net assets/shares outstanding) Shares outstanding
24,632,494</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:5pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.24%;">$
<FONT style="padding-left:8.66pt;"></FONT>10.13 </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:112pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:7.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">31</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">STATEMENT OF OPERATIONS (Unaudited)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">SIX MONTHS ENDED <FONT style="text-transform:uppercase;">May 31,
2019</FONT></DIV> </DIV> <DIV style="margin-top:14pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in thousands)</DIV> </DIV>
<DIV style="margin-top:1pt;width:100%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:82.22%;">Investment
 Income </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Dividends
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:5pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:19.24%;">$
<FONT style="padding-left:4pt;"></FONT>5,338 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Interest
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">2,643
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Foreign taxes withheld
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:16.34pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:19.24%;">(561)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:16pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Total investment
income</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:13pt;padding-top:1.75pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">7,420
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:82.22%;">Expenses
 </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.75pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Investment advisory
fees</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:13pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">1,196
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Administration and accounting
fees</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">199
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Directors&#8217; fees and
expenses</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">181
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Printing fees and expenses
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">115
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Professional fees
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:19pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">101
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Transfer agent fees and
expenses</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:23pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">35
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Custodian fees
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:23pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">24
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Miscellaneous
expenses</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:23pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:19.24%;">41
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Total expenses before interest
expense</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:13pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">1,892
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Interest expense on borrowings&#8201;(Note
8)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:13pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:19.24%;">1,645
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Total expenses after interest
expense</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:13pt;padding-top:1.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">3,537
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Less administration fee
waiver</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:24.34pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:19.24%;">(1)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:16pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Net
expenses</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:13pt;padding-top:1.75pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">3,536
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Net investment income
(loss)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:12.34pt;padding-top:1.75pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">3,884
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">Net
 Realized and Unrealized Gain (Loss) on Investments </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.75pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">Net
 realized gain (loss) from: </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">&#8195;Investments</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:10.34pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">(4,171)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Foreign currency
transactions</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:20.34pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">(51)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Written
options</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:10.34pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">(3,723)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">Net
 change in unrealized appreciation (depreciation) on: </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">&#8195;Investments</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:9pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">10,627
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Foreign currency
transactions</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:1pt;padding-left:27pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:19.24%;">5
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Written
options</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:16.34pt;padding-top:1pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:19.24%;">(101)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Net realized and unrealized gain (loss) on
investments</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:12.34pt;padding-top:1.75pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">2,586
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.38pt;padding-left:0pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Net increase (decrease) in net assets resulting from
operations</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.38pt;padding-left:5pt;padding-top:1.75pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.24%;">$
<FONT style="padding-left:3.34pt;"></FONT>6,470 </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:91pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:7.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">32</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">STATEMENTS OF CHANGES IN NET ASSETS </DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> </DIV> <DIV style="margin-top:1pt;width:100%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:8pt;padding-bottom:2.5pt;padding-right:5pt;text-align:center;vertical-align:bottom;width:50.29%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:2.5pt;padding-left:5pt;padding-right:5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:14.62%;">Six
 Months<BR> Ended<BR> May 31, 2019<BR> (Unaudited) </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:2.5pt;padding-left:5pt;padding-right:5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:14.62%;">Period
 Ended<BR> November 30, 2018<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:2.5pt;padding-left:5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:16.62%;">Year
 Ended<BR> December 31, 2017 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.75pt;padding-left:0pt;padding-right:5pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">INCREASE
 (DECREASE) IN NET ASSETS<BR> From Operations </TD>
<TD style="line-height:8pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:14.62%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:14.62%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:16.62%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.75pt;padding-left:8pt;padding-right:5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Net investment income (loss)
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.75pt;padding-left:5pt;padding-right:5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:14.62%;">$
<FONT style="padding-left:18pt;"></FONT>3,884 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.75pt;padding-left:5pt;padding-right:5pt;padding-top:0.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:14.62%;">$
<FONT style="padding-left:18pt;"></FONT>8,243 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.75pt;padding-left:5pt;padding-top:0.75pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:16.62%;">$
<FONT style="padding-left:14pt;"></FONT>10,219 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.75pt;padding-left:8pt;padding-right:5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Net realized gain (loss)
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:24.34pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.62%;">(7,945)
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:20.34pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.62%;">(16,506)
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:23pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.62%;">14,987
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:8pt;padding-right:5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">Net
 change in unrealized appreciation (depreciation) </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:23pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">10,531
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:20.34pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">(22,572)
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:23pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:16.62%;">28,614
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:5pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Increase (decrease) in net assets resulting from
operations</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:27pt;padding-right:5pt; padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">6,470
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:20.34pt;padding-right:5pt; padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">(30,835)
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:23pt;padding-top:1.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.62%;">53,820
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.75pt;padding-left:0pt;padding-right:5pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">From
 Dividends and Distributions to Shareholders </TD>
<TD style="line-height:8pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:14.62%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:14.62%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:16.62%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.75pt;padding-left:8pt;padding-right:5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Net investment income and net realized
gains</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:20.34pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.62%;">(16,668)
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:20.34pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.62%;">(10,353)
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:20.34pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:16.62%;">(41,194)
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(3)</SUP> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:8pt;padding-right:5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Return of
capital</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:37pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:20.34pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">(20,113)
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:24.34pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:16.62%;">(6,435)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:5pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Dividends and Distributions to
Shareholders</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:20.34pt;padding-right:5pt; padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">(16,668)
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:20.34pt;padding-right:5pt; padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">(30,466)
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:20.34pt;padding-top:1.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.62%;">(47,629)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.75pt;padding-left:0pt;padding-right:5pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">From
 Capital Share Transactions </TD>
<TD style="line-height:8pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:14.62%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:14.62%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-top:1.5pt;text-align:center;vertical-align:bottom;width:16.62%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.75pt;padding-left:8pt;padding-right:5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Payments for tendered
shares</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:37pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.62%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:37pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.62%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:20.34pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:16.62%;">(33,149)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:8pt;padding-right:5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Issuance of common stock related to reinvestment of distributions (64,418, 100,956 and 78,042 shares,
respectively)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:33pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">665
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:27pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">1,138
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:27pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:16.62%;">1,002
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:5pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Increase (decrease) in net assets from capital
transactions</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:33pt;padding-right:5pt; padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">665
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:27pt;padding-right:5pt; padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">1,138
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:20.34pt;padding-top:1.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.62%;">(32,147)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.75pt;padding-left:0pt;padding-right:5pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Net increase (decrease) in net
assets</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:24.34pt;padding-right:5pt;padding-top:1.5pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.62%;">(9,533)
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:20.34pt;padding-right:5pt;padding-top:1.5pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.62%;">(60,163)
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:20.34pt;padding-top:1.5pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.62%;">(25,956)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.75pt;padding-left:0pt;padding-right:5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">Net
 Assets </TD>
<TD style="line-height:8pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:bottom;width:14.62%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:bottom;width:14.62%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-top:0.75pt;text-align:center;vertical-align:bottom;width:16.62%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Beginning of
period</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:19pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">259,013
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:19pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">319,176
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:19pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:16.62%;">345,132
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.12pt;padding-left:0pt;padding-right:5pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">End of
period</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.12pt;padding-left:5pt;padding-right:5pt; padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:14.62%;">$
<FONT style="padding-left:9.34pt;"></FONT>249,480 </TD>
<TD style="line-height:0pt;padding-bottom:2.12pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.12pt;padding-left:5pt;padding-right:5pt; padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:14.62%;">$
<FONT style="padding-left:9.34pt;"></FONT>259,013 </TD>
<TD style="line-height:0pt;padding-bottom:2.12pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.12pt;padding-left:5pt;padding-top:1.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:16.62%;">$
<FONT style="padding-left:9.34pt;"></FONT>319,176 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.75pt;padding-left:0pt;padding-right:5pt;padding-top:2.12pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Accumulated undistributed net investment income (loss) at end of
period</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:33.44pt;padding-right:5pt;padding-top:2.12pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.62%;">N/A
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:2.12pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:33.44pt;padding-right:5pt;padding-top:2.12pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.62%;">N/A
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:2.12pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.75pt;padding-left:5pt;padding-top:2.12pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:16.62%;">$
<FONT style="padding-left:24pt;"></FONT>861 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.75pt;padding-left:0pt;padding-right:5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">Supplemental
 &#8211; Other Information<BR> Capital share transactions were as follows: </TD>
<TD style="line-height:8pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:bottom;width:14.62%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:bottom;width:14.62%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-top:0.75pt;text-align:center;vertical-align:bottom;width:16.62%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.75pt;padding-left:8pt;padding-right:5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Common shares outstanding at beginning of
period</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:9pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.62%;">24,568,076
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:9pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.62%;">24,467,120
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:9pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.62%;">27,023,909
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.75pt;padding-left:8pt;padding-right:5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Issuance of common stock related to reinvestment of
distributions</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:23pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.62%;">64,418
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:19pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:14.62%;">100,956
 </TD>
<TD style="line-height:0pt;padding-bottom:0.75pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.75pt;padding-left:23pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:16.62%;">78,042
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:8pt;padding-right:5pt;padding-top:0.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Common shares tendered&#8201;(Note
10)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:37pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:37pt;padding-right:5pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:5pt;padding-top:0.75pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:10.34pt;padding-top:0.75pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:16.62%;">(2,634,831)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:8pt;padding-right:5pt;padding-top:1.5pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:50.29%;">
<DIV style="float:left;">Common shares outstanding at end of
period</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:9pt;padding-right:5pt; padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">24,632,494
 </TD>
<TD style="line-height:0pt;padding-bottom:1.38pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:9pt;padding-right:5pt; padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.62%;">24,568,076
 </TD>
<TD style="line-height:0pt;padding-bottom:1.38pt;padding-right:5pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:9pt;padding-top:1.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:16.62%;">24,467,120
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
<DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:2.48%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:3pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:97.96%;">During
 the period the Fund changed its fiscal year end from December 31 to November 30. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:2.48%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:97.96%;">Please
 note that the tax status of our distributions is determined at the end of the tax year. However, based on interim data as of May 31, 2019, we estimate that 23.3% will represent net investment income and 76.7% will represent return of capital. Also
refer to inside front cover for information on the Managed Distribution Plan. See Notes to Financial Statements. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:top;width:2.48%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(3)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:97.96%;">For
 the year ended December 31, 2017, the distributions to shareholders from net investment income was $10,514 and distributions from net realized gains was $30,680. </TD></TR></TABLE> </DIV> </DIV>
<DIV style="margin-top:42pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to
Financial Statements.</DIV> </DIV> <DIV style="margin-top:7.79pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">33</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">STATEMENT OF CASH FLOWS (Unaudited)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">FOR THE SIX MONTHS ENDED <FONT style="text-transform:uppercase;">May 31,
2019</FONT></DIV> </DIV> <DIV style="margin-top:14pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">($ reported in thousands)</DIV> </DIV>
<DIV style="margin-top:1pt;width:100%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:82.22%;">Increase
 (Decrease) in cash </TD>
<TD style="line-height:8pt;padding-bottom:1pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:82.22%;">Cash
 Flows provided by (Used for) Operating Activities: </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Net increase (decrease) in net assets resulting from operations
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:5pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:19.24%;">$
<FONT style="padding-left:6.66pt;"></FONT>6,470 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:82.22%;">Adjustments
 to reconcile net increase (decrease) in net assets resulting from operations to net cash provided (used by) operating activities: </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.75pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Proceeds from sales and paydowns of long-term investments
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.66pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">88,384
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">(Increase) Decrease in investment securities sold receivable
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:25.66pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">37
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Purchases of long-term investments
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">(69,595)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Increase (Decrease) in investment securities purchased payable
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:13pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">(3,930)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Net (purchases) or sales of short-term
investments</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:21.66pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">247
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Net (purchases) or sales in purchased options
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:13pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">(1,162)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Net purchases or (sales) in written options
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:13pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">(4,548)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Net change in unrealized (appreciation)/depreciation on investments
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">(10,526)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Net realized (gain)/loss from investments
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:15.66pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">7,894
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Non-cash adjustments from corporate
events</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:25.66pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">13
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Amortization of premium and accretion of discounts on investments
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:21.66pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">144
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Return of capital distributions on
investments</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:21.66pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">291
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Proceeds from litigation
settlements</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:21.66pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">187
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">(Increase) Decrease in tax reclaims receivable
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:19pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">(256)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">(Increase) Decrease in dividends and interest receivable
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:21.66pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">407
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">(Increase) Decrease in prepaid
expenses</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:23pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">(25)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">(Increase) Decrease in prepaid Directors&#8217; retainer
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:27pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">(1)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Increase (Decrease) in interest expense payable on borrowings
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:29.66pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">2
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Increase (Decrease) in affiliated expenses
payable</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:25.66pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">23
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:16pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Increase (Decrease) in non-affiliated expenses
payable</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:23pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">(27)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:8pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Cash provided by (used for) operating
activities</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:11.66pt;padding-top:1.75pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">14,029
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">Cash
 provided (used for) financing activites: </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.75pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Cash receipts from borrowings
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:11.66pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">10,000
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Cash payments to reduce borrowings
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:9pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">(12,500)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Cash distributions paid to shareholders
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">(16,003)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Cash provided (used for) financing
activites:</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:9pt;padding-top:1.75pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">(18,503)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Net increase (decrease) in
cash</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:12.34pt;padding-top:1.75pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">(4,474)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:82.22%;">
<DIV style="float:left;">Cash:</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:1.75pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Cash and foreign currency at beginning of
period</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:15.66pt;padding-top:1pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.24%;">7,722
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:8pt;padding-right:5pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Cash and foreign currency at end of
period</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:3pt;padding-left:5pt;padding-top:1.75pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:19.24%;">$
<FONT style="padding-left:6pt;"></FONT> 3,248 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:0pt;padding-right:5pt;padding-top:2pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">Supplemental
 cash flow information: </TD>
<TD style="line-height:8pt;padding-bottom:1pt;padding-top:2pt;text-align:center;vertical-align:bottom;width:19.24%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Reinvestment of dividends and
distributions</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1pt;padding-left:5pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:19.24%;">$
<FONT style="padding-left:12.66pt;"></FONT> 665 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:8pt;padding-right:5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:82.22%;">
<DIV style="float:left;">Cash paid during the period for interest expense on
borrowings</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:5pt;padding-top:1pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:19.24%;">$
<FONT style="padding-left:6.66pt;"></FONT>1,643 </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:96pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:98pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:7.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">34</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">FINANCIAL HIGHLIGHTS</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;text-align:center;text-decoration:none;text-transform:none;">SELECTED PER SHARE DATA AND RATIOS FOR A SHARE OUTSTANDING</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;text-align:center;text-decoration:none;text-transform:none;">THROUGHOUT EACH PERIOD</DIV> </DIV>
<DIV style="margin-top:23pt;width:100%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-bottom:1.38pt;padding-right:6pt;text-align:left;vertical-align:bottom;width:30.93%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:1.38pt;padding-left:6pt;padding-right:6pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:12.54%;" rowspan="2">Period
 Ended<BR> May 31,<BR> 2019<BR> (Unaudited) </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.38pt;padding-right:6pt;text-align:center;vertical-align:top;width:2.00%;" rowspan="2">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:1.38pt;padding-left:6pt;padding-right:6pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.60%;" rowspan="2">Period
 Ended<BR> November 30,<BR> 2018<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.38pt;padding-right:6pt;text-align:center;vertical-align:top;width:2.00%;" rowspan="2">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:1.38pt;padding-left:6pt;padding-right:6pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:39.36%;" colspan="5">Year
 Ended<BR> December 31, </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:left;vertical-align:bottom;width:30.93%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:11.12%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:center;vertical-align:bottom;width:11.12%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">2017
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:0%;">2016
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:0%;">2015
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">PER
 SHARE DATA: </TD>
<TD style="line-height:8pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:12.54%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:13.60%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:11.12%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:11.12%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:13.12%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Net asset value, beginning of
period</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:12.54%;">$
<FONT style="padding-left:8pt;"></FONT>10.54 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.60%;">$
<FONT style="padding-left:8pt;"></FONT>13.05 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:11.12%;">$
<FONT style="padding-left:8pt;"></FONT>12.77 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:11.12%;">$
<FONT style="padding-left:8pt;"></FONT>13.56 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.12%;">$
<FONT style="padding-left:8pt;"></FONT>15.43 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.88pt;padding-left:8pt;padding-right:6pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:30.93%;">Income
 (loss) from investment operations: </TD>
<TD style="line-height:8pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:12.54%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:13.60%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:11.12%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:11.12%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:13.12%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Net investment income
(loss)<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:3.20pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.54%;">0.16
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">0.34
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">0.41
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">0.27
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">0.22
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Net realized and unrealized gain
(loss)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:22pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.54%;">0.11
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:19.34pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">(1.61)
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:22pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">1.71
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:22pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">0.05
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:19.34pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">(1.02)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Total from investment
operations</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:1.5pt;padding-left:22pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.54%;">0.27
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:1.5pt;padding-left:19.34pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">(1.27)
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:1.5pt;padding-left:22pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">2.12
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:1.5pt;padding-left:22pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">0.32
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:1.5pt;padding-left:19.34pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">(0.80)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.88pt;padding-left:8pt;padding-right:6pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:30.93%;">Dividends
 and Distributions to Shareholders: </TD>
<TD style="line-height:8pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:12.54%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:13.60%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:11.12%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:11.12%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:13.12%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Net investment
income</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.54%;">(0.68)
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">(0.37)
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">(0.42)
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">(0.27)
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">(0.26)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Net realized
gains</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.88pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.54%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">(0.05)
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">(1.18)
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">(0.89)
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">(0.85)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Return of
capital</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:1.5pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.54%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:19.34pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">(0.82)
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:19.34pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">(0.26)
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:1.5pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:1.5pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Total dividends and distributions to
shareholders</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:19.34pt;padding-right:6pt; padding-top:1.38pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.54%;">(0.68)
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:19.34pt;padding-right:6pt; padding-top:1.38pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">(1.24)
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:19.34pt;padding-right:6pt; padding-top:1.38pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">(1.86)
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:19.34pt;padding-right:6pt; padding-top:1.38pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">(1.16)
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:19.34pt;padding-right:6pt; padding-top:1.38pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">(1.11)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.88pt;padding-left:8pt;padding-right:6pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:30.93%;">Fund
 Share Transactions (Note 10) </TD>
<TD style="line-height:8pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:12.54%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:13.60%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:11.12%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:11.12%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:13.12%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Anti-dilutive impact of repurchase
plan</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.88pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.54%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.88pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.60%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.88pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.12%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt; line-height:11pt;padding-bottom:0.88pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.12%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">0.04
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Anti-dilutive impact of tender
offers</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:1.5pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.54%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:1.5pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:22pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">0.02
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:22pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">0.05
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:1.5pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">&#8212;
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:0pt;padding-right:6pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Net asset value, end of
period</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:6pt;padding-right:6pt; padding-top:1.38pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:12.54%;">$
<FONT style="padding-left:8pt;"></FONT>10.13 </TD>
<TD style="line-height:0pt;padding-bottom:1.75pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:6pt;padding-right:6pt; padding-top:1.38pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.60%;">$
<FONT style="padding-left:8pt;"></FONT>10.54 </TD>
<TD style="line-height:0pt;padding-bottom:1.75pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:6pt;padding-right:6pt; padding-top:1.38pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:11.12%;">$
<FONT style="padding-left:8pt;"></FONT>13.05 </TD>
<TD style="line-height:0pt;padding-bottom:1.75pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:6pt;padding-right:6pt; padding-top:1.38pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:11.12%;">$
<FONT style="padding-left:8pt;"></FONT>12.77 </TD>
<TD style="line-height:0pt;padding-bottom:1.75pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:6pt;padding-right:6pt; padding-top:1.38pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.12%;">$
<FONT style="padding-left:8pt;"></FONT>13.56 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:0pt;padding-right:6pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Market value, end of
period<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(3)</SUP></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:3.20pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:6pt;padding-right:6pt; padding-top:1.75pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:12.54%;">$
<FONT style="padding-left:8pt;"></FONT>11.11 </TD>
<TD style="line-height:0pt;padding-bottom:1.75pt;padding-right:6pt;padding-top:1.75pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:6pt;padding-right:6pt; padding-top:1.75pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.60%;">$
<FONT style="padding-left:12pt;"></FONT>9.99 </TD>
<TD style="line-height:0pt;padding-bottom:1.75pt;padding-right:6pt;padding-top:1.75pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:6pt;padding-right:6pt; padding-top:1.75pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:11.12%;">$
<FONT style="padding-left:8pt;"></FONT>13.40 </TD>
<TD style="line-height:0pt;padding-bottom:1.75pt;padding-right:6pt;padding-top:1.75pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:6pt;padding-right:6pt; padding-top:1.75pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:11.12%;">$
<FONT style="padding-left:8pt;"></FONT>12.04 </TD>
<TD style="line-height:0pt;padding-bottom:1.75pt;padding-right:6pt;padding-top:1.75pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:6pt;padding-right:6pt; padding-top:1.75pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.12%;">$
<FONT style="padding-left:8pt;"></FONT>12.18 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Total return, net asset
value<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)</SUP></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:3.20pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:1.75pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.54%;">2.93%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(5)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.75pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:1.75pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">(9.67)%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(5)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.75pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:18pt;padding-right:6pt;padding-top:1.75pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">19.02%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.75pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:1.75pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">3.74%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.75pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:1.75pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">(4.17)%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Total return, market
value<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)</SUP></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:3.20pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:18pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.54%;">19.11%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(5)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:15.34pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">(16.62)%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(5)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:18pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">29.62%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">8.90%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">(5.20)%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.88pt;padding-left:8pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-indent:-8pt;text-transform:none;vertical-align:bottom;width:30.93%;">RATIOS/SUPPLEMENTAL
 DATA: </TD>
<TD style="line-height:8pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:bottom;width:12.54%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:bottom;width:13.60%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:bottom;width:11.12%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:bottom;width:11.12%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:bottom;width:13.12%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Ratio of net expenses to average net
assets</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.54%;">2.84%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(6)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">2.53%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(6)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">2.23%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(7)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">1.61%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(8)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">0.98%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Ratio of total expenses after interest expense to average net
assets<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(9)</SUP></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:3.20pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.54%;">2.84%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(6)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">2.62%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(6)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">2.33%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(7)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">1.64%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(8)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">0.98%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Ratio of net investment income (loss) to average net
assets</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.54%;">3.12%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(6)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">3.25%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(6)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">3.20%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(7)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">2.05%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(8)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">1.49%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Portfolio turnover
rate</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.54%;">21%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(5)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">43%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(5)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">44%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:24pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">178%
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(10)</SUP> </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">77%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Net assets, end of period
(000&#8217;s)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.54%;">$249,480
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">$259,013
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">$319,176
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">$345,132
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">$431,263
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Borrowings, end of period
(000&#8217;s)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:12.54%;">$
<FONT style="padding-left:4pt;"></FONT>97,500 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.60%;">$100,000
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">$120,000
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.12%;">$120,000
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:13.12%;">$
<FONT style="padding-left:18pt;"></FONT>&#8212; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:4pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.93%;">
<DIV style="float:left;">Asset coverage, per $1,000 principal amount of
borrowings<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(11)</SUP></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:3.20pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:12.54%;">$
<FONT style="padding-left:8pt;"></FONT>3,559 </TD>
<TD style="line-height:0pt;padding-bottom:4pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:13.60%;">$
<FONT style="padding-left:8pt;"></FONT>3,590 </TD>
<TD style="line-height:0pt;padding-bottom:4pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:11.12%;">$
<FONT style="padding-left:8pt;"></FONT>3,660 </TD>
<TD style="line-height:0pt;padding-bottom:4pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:11.12%;">$
<FONT style="padding-left:8pt;"></FONT>3,876 </TD>
<TD style="line-height:0pt;padding-bottom:4pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:13.12%;">$
<FONT style="padding-left:18pt;"></FONT>&#8212; </TD></TR></TABLE> </DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;</DIV> </DIV>
<DIV style="margin-top:33pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:29pt;text-align:center;text-decoration:none;text-transform:none;">See
Notes to Financial Statements.</DIV> </DIV> <DIV style="margin-top:7.79pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">35</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">FINANCIAL HIGHLIGHTS</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;text-align:center;text-decoration:none;text-transform:none;">SELECTED PER SHARE DATA AND RATIOS FOR A SHARE OUTSTANDING</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;text-align:center;text-decoration:none;text-transform:none;">THROUGHOUT EACH PERIOD</DIV> </DIV>
<DIV style="margin-top:23pt;width:100%;" type="Block"> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-bottom:1.5pt;padding-right:6pt;text-align:left;vertical-align:bottom;width:74.64%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:25.80%;" colspan="3">Year
 Ended<BR> December 31, </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:left;vertical-align:bottom;width:74.64%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">2014
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7pt;font-style:Normal;font-weight:Normal;line-height:10pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:1.38pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">2013
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">PER
 SHARE DATA: </TD>
<TD style="line-height:8pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:10.68%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:13.12%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Net asset value, beginning of
period</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.68%;">$
<FONT style="padding-left:8pt;"></FONT>15.45 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.12%;">$
<FONT style="padding-left:8pt;"></FONT>14.08 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">Income
 (loss) from investment operations: </TD>
<TD style="line-height:8pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:10.68%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:13.12%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Net investment income
(loss)<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:3.20pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">0.25
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">0.29
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Net realized and unrealized gain
(loss)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:22pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">0.78
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:22pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">2.02
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Total from investment
operations</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:1.5pt;padding-left:22pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">1.03
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:1.5pt;padding-left:22pt;padding-right:6pt;padding-top:1.38pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">2.31
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">Dividends
 and Distributions to Shareholders: </TD>
<TD style="line-height:8pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:10.68%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:13.12%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Net investment
income</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">(0.24)
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">(0.27)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Net realized
gains</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">(0.85)
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:19.34pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">(0.70)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Return of
capital</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial Narrow;font-family:Arial Narrow;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal; font-weight:Normal;line-height:11pt;line-height:11pt;padding-bottom:1.5pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;
text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:19.34pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">(0.05)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Total dividends and distributions to
shareholders</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:19.34pt;padding-right:6pt; padding-top:1.38pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">(1.09)
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:19.34pt;padding-right:6pt; padding-top:1.38pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">(1.02)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">Fund
 Share Transactions (Note 10) </TD>
<TD style="line-height:8pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:10.68%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:13.12%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Anti-dilutive impact of repurchase
plan</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:22pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">0.04
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.5pt;padding-left:22pt;padding-right:6pt; padding-top:0.88pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">0.08
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:0pt;padding-right:6pt;padding-top:1.38pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Net asset value, end of
period</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:6pt;padding-right:6pt; padding-top:1.38pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.68%;">$
<FONT style="padding-left:8pt;"></FONT>15.43 </TD>
<TD style="line-height:0pt;padding-bottom:1.75pt;padding-right:6pt;padding-top:1.38pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:6pt;padding-right:6pt; padding-top:1.38pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.12%;">$
<FONT style="padding-left:8pt;"></FONT>15.45 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:0pt;padding-right:6pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Market value, end of
period<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(3)</SUP></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:3.20pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:6pt;padding-right:6pt; padding-top:1.75pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.68%;">$
<FONT style="padding-left:8pt;"></FONT>14.01 </TD>
<TD style="line-height:0pt;padding-bottom:1.75pt;padding-right:6pt;padding-top:1.75pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.75pt;padding-left:6pt;padding-right:6pt; padding-top:1.75pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:13.12%;">$
<FONT style="padding-left:8pt;"></FONT>13.94 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:1.75pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Total return, net asset
value<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)</SUP></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:3.20pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:1.75pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">7.86%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:1.75pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:18pt;padding-right:6pt;padding-top:1.75pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">18.58%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Total return, market
value<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)</SUP></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:3.20pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">8.54%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:18pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">22.37%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">RATIOS/SUPPLEMENTAL
 DATA: </TD>
<TD style="line-height:8pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:bottom;width:10.68%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:bottom;width:13.12%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Ratio of net expenses to average net
assets</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">1.03%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">0.99%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Ratio of total expenses after interest expense to average net
assets<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(9)</SUP></DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:3.20pt;vertical-align:auto;"
noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">1.03%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">1.04%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Ratio of net investment income (loss) to average net
assets</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">1.61%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:22pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">1.97%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Portfolio turnover
rate</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">38%
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:28pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">52%
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Net assets, end of period
(000&#8217;s)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:10.68%;">$500,825
 </TD>
<TD style="line-height:0pt;padding-bottom:0.88pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0.88pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.12%;">$514,350
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:4pt;padding-left:0pt;padding-right:6pt;padding-top:0.88pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.64%;">
<DIV style="float:left;">Borrowings, end of period
(000&#8217;s)</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
 </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:10.68%;">$
<FONT style="padding-left:18pt;"></FONT>&#8212; </TD>
<TD style="line-height:0pt;padding-bottom:4pt;padding-right:6pt;padding-top:0.88pt;text-align:right;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:6pt;padding-top:0.88pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:13.12%;">$
<FONT style="padding-left:18pt;"></FONT>&#8212; </TD></TR></TABLE> </DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:2.48%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:3pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:97.96%;">During
 the period the Fund changed its fiscal year end from December 31 to November 30. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:2.48%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:97.96%;">Calculated
 using average shares outstanding. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:2.48%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(3)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:97.96%;">Closing
 Price &#8211; New York Stock Exchange. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:2.48%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(4)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:97.96%;">Total return
 on market value is calculated assuming a purchase of common shares on the opening of the first day and sale on the closing of the last day of each period reported. Dividends and distributions are assumed, for purposes of this calculation, to be
reinvested at prices obtained under the Fund&#8217;s Automatic Reinvestment and Cash Purchase Plan. Total return on market value is not annualized for periods of less than one year. Brokerage commissions that a shareholder may pay are not reflected.
Total return on market value does not reflect the deduction of taxes that a shareholder may pay on fund distributions or the sale of fund shares. Total return on net asset value uses the same methodology, but with use of net asset value for the
beginning, ending and reinvestment values. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:2.48%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(5)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:97.96%;">Not
annualized. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:2.48%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(6)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;white-space:nowrap;width:97.96%;">Annualized.
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:2.48%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(7)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:97.96%;">The
Fund incurred certain non-recurring tender offer costs in 2017. When excluding these costs the ratio of net expenses to average net assets would be 2.17%, the ratio of total expenses would be 2.27% and the ratio of net investment income (loss) to
average net assets would be 3.26%. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:top;width:2.48%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(8)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:97.96%;">The
 Fund incurred certain non-recurring proxy and tender offer costs in 2016. When excluding these costs, the ratio of net expenses to average net assets would be 1.48%, the ratio of total expenses to average net assets would be 1.51%, and the ratio of
net investment income (loss) to average net assets would be 2.18%. </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:24pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:7.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">36</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">FINANCIAL HIGHLIGHTS (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;text-align:center;text-decoration:none;text-transform:none;">SELECTED PER SHARE DATA AND RATIOS FOR A SHARE OUTSTANDING</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;text-align:center;text-decoration:none;text-transform:none;">THROUGHOUT EACH PERIOD</DIV> </DIV>
<DIV style="margin-top:31pt;width:100%;" type="Block"> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;padding-bottom:3pt;padding-left:0pt;padding-right:1.5pt;padding-top:3pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:top;width:2.48%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(9)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:1.5pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:97.96%;">Ratios
 of total expenses, excluding dividends and interest expense on short sales and borrowings for the fiscal periods ended, as applicable, are as follows: </TD></TR></TABLE> </DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;</DIV> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:82.06%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7.5pt;font-style:Normal;font-weight:bold;line-height:10.5pt;padding-bottom:1.5pt;padding-left:0pt;padding-right:6pt; padding-top:6pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:14.67%;" rowspan="2">Period
 Ended<BR> May 31, 2019 </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;" rowspan="2">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7.5pt;font-style:Normal;font-weight:bold;line-height:10.5pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:6pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:23.31%;" rowspan="2">Period
 Ended<BR> November 30, 2018 </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;" rowspan="2">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7.5pt;font-style:Normal;font-weight:bold;line-height:10.5pt;padding-bottom:1.5pt;padding-left:6pt;padding-top:6pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:58.02%;" colspan="9">Period
 Ended December 31, </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7.5pt;font-style:Normal;font-weight:bold;line-height:10.5pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.60%;">2017
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7.5pt;font-style:Normal;font-weight:bold;line-height:10.5pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.60%;">2016
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7.5pt;font-style:Normal;font-weight:bold;line-height:10.5pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.60%;">2015
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7.5pt;font-style:Normal;font-weight:bold;line-height:10.5pt;padding-bottom:1.5pt;padding-left:6pt;padding-right:6pt; padding-top:1.5pt;text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.60%;">2014
 </TD>
<TD style="line-height:0pt;padding-bottom:1.5pt;padding-right:6pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial Narrow;font-size:7.5pt;font-style:Normal;font-weight:bold;line-height:10.5pt;padding-bottom:1.5pt;padding-left:6pt;padding-top:1.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.60%;">2013
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:0pt;padding-right:6pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:14.67%;">1.52%
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:6pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:6pt;padding-right:6pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:23.31%;">1.49%
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:6pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:6pt;padding-right:6pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.60%;">1.59%
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:6pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:6pt;padding-right:6pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.60%;">1.37%
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:6pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:6pt;padding-right:6pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.60%;">0.98%
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:6pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:6pt;padding-right:6pt;padding-top:1.5pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:9.60%;">0.99%
 </TD>
<TD style="line-height:0pt;padding-bottom:6pt;padding-right:6pt;padding-top:1.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:6pt;padding-top:1.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.60%;">1.02%
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:right;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
<DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:3.35%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(10)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:3pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:97.09%;">The
increase in portfolio turnover rate is due to a change in the investment adviser and the appointment of two new sub-advisers associated with a strategy change on the Fund. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:0pt;padding-right:1.5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:top;width:3.35%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(11)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:97.09%;">Represents
 value of net assets plus the borrowings at the end of the period divided by the borrowings at the end of the period multiplied by $1,000. </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:359pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">See Notes to Financial Statements.</DIV> </DIV>
<DIV style="margin-top:7.79pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">37</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">NOTES TO FINANCIAL STATEMENTS (Unaudited)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:15pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;1.&nbsp;Organization</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">Virtus Global Dividend &amp; Income Fund
Inc. (the &#8220;Fund&#8221;) is a closed-end, diversified management investment company registered under the Investment Company Act of 1940. The Fund was incorporated under the laws of the State of Maryland on July 21, 1988. The Fund&#8217;s
investment objective is to seek total return, consisting of capital appreciation and income. <FONT style="font-style:italic;">There is no guarantee that the Fund will achieve its investment objective.</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;2.&nbsp;Significant Accounting Policies</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">The Fund is an investment company that
follows the accounting and reporting guidance of Accounting Standards Codification (&#8220;ASC&#8221;) Topic 946 applicable to Investment Companies.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">The following is a summary of significant
accounting policies consistently followed by the Fund in the preparation of its financial statements. The preparation of financial statements in conformity with U.S. generally accepted accounting principles (&#8220;U.S. GAAP&#8221;) requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases
in net assets from operations during the reporting period. Actual results could differ from those estimates, and those differences could be significant.</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:4.66%;margin-top:3pt;width:95.34%;" cellpadding="4" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:4.59%;">A.
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Security Valuation </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-bottom:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; width:95.41%;">The Fund
utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The Fund&#8217;s policy is to recognize transfers into and out of Level 3 at the end of the reporting period.
</TD></TR></TABLE> </DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:87.048pt;text-align:left;text-decoration:none;text-indent:-52.452pt; text-transform:none;">&#8226;&nbsp;&nbsp;
&nbsp;&nbsp;Level 1 &#8211; &nbsp;quoted prices in active markets for identical securities (security types generally include listed equities).</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:87.048pt;text-align:left;text-decoration:none;text-indent:-52.452pt; text-transform:none;">&#8226;&nbsp;&nbsp;
&nbsp;&nbsp;Level 2 &#8211; &nbsp;prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:87.048pt;text-align:left;text-decoration:none;text-indent:-52.452pt; text-transform:none;">&#8226;&nbsp;&nbsp;
&nbsp;&nbsp;Level 3 &#8211; &nbsp;prices determined using significant unobservable inputs (including the Valuation Committee&#8217;s own assumptions in determining the fair value of investments).</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:34.596pt;text-align:left;text-decoration:none;text-transform:none;">A description of the valuation techniques
applied to the Fund&#8217;s major categories of assets and liabilities measured at fair value on a recurring basis is as follows:</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:34.596pt;text-align:left;text-decoration:none;text-transform:none;">Equity securities are valued at the
official closing price (typically last sale) on the exchange on which the securities are primarily traded or, if no closing price is available, at the last bid price and are categorized as Level 1 in the hierarchy. Restricted equity securities and
private placements that are illiquid, or are internally fair valued by the Valuation Committee, are generally categorized as Level 3 in the hierarchy.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:34.596pt;text-align:left;text-decoration:none;text-transform:none;">Certain non-U.S. securities may be fair
valued in cases where closing prices are not readily available or are deemed not reflective of readily available market prices. For example, significant events (such as movement in the U.S. securities market, or other regional and local
developments) may occur between the time that non-U.S. markets close (where the security is principally traded) and the time that the Fund calculates its net asset value (&#8220;NAV&#8221;) at the close of regular trading on the New York Stock
Exchange (&#8220;NYSE&#8221;) (generally 4 p.m. Eastern time) that may impact the value of securities traded</DIV> </DIV> <DIV style="margin-top:18pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">38</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
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  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:9.04%;text-align:left;text-decoration:none;text-transform:none;">in
these non-U.S. markets. In such cases, the Fund fair values non-U.S. securities using an independent pricing service which considers the correlation of the trading patterns of the non-U.S. security to the intraday trading in the U.S. markets for
investments such as ADRs, financial futures, exchange-traded funds (&#8220;ETFs&#8221;), and certain indexes, as well as prices for similar securities. Such fair valuations are categorized as Level 2 in the hierarchy. Because the frequency of
significant events is not predictable, fair valuation of certain non-U.S. common stocks may occur on a frequent basis.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:9.04%;text-align:left;text-decoration:none;text-transform:none;">Debt securities, including restricted
securities, are valued based on evaluated quotations received from independent pricing services or from dealers who make markets in such securities. For most bond types, the pricing service utilizes matrix pricing that considers one or more of the
following factors: yield or price of bonds of comparable quality, coupon, maturity, current cash flows, type, and current day trade information, as well as dealer supplied prices. These valuations are generally categorized as Level 2 in the
hierarchy. Structured debt instruments, such as mortgage-backed and asset-backed securities, may also incorporate collateral analysis and utilize cash flow models for valuation and are generally categorized as Level 2 in the hierarchy. Pricing
services do not provide pricing for all securities and therefore indicative bids from dealers are utilized which are based on pricing models used by market makers in the security and are generally categorized as Level 2 in the hierarchy. Debt
securities that are internally fair valued by the Valuation Committee are generally categorized as Level 3 in the hierarchy.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:9.04%;text-align:left;text-decoration:none;text-transform:none;">Listed derivatives, such as options, that
are actively traded are valued based on quoted prices from the exchange and are categorized as Level 1 in the hierarchy. Over-the-counter derivative contracts, which include forward currency contracts and equity-linked instruments, do not require
material subjectivity as pricing inputs are observed from actively quoted markets and are categorized as Level 2 in the hierarchy.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:9.04%;text-align:left;text-decoration:none;text-transform:none;">Investments in open-end mutual funds are
valued at NAV. Investments in closed-end funds and ETFs are valued as of the close of regular trading on the NYSE each business day. Each is categorized as Level 1 in the hierarchy.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:9.04%;text-align:left;text-decoration:none;text-transform:none;">A summary of the inputs used to value the
Fund&#8217;s net assets by each major security type is disclosed at the end of the Schedule of Investments for the Fund. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing
in those securities.</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:4.66%;margin-top:3pt;width:95.34%;" cellpadding="4" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:4.59%;">B.
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Security Transactions and
Investment Income </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Security transactions are
recorded on the trade date. Realized gains and losses from the sale of securities are determined on the identified cost basis. Dividend income is recognized on the ex-dividend date or, in the case of certain foreign securities, as soon as the Fund
is notified. Interest income is recorded on the accrual basis. The Fund amortizes premiums and accretes discounts using the effective interest method. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Any distributions from
underlying funds are recorded in accordance with the character of the distributions as designated by the underlying funds. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-bottom:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; width:95.41%;">Dividend
income from investments in real estate investment trusts (&#8220;REITs&#8221;) is recorded using management&#8217;s estimate of the percentage of income included in distributions received from such investments based on historical information and
other industry sources. The return of capital portion of the estimate is a reduction to investment income and a reduction in the cost basis of each investment which increases net realized gain </TD></TR></TABLE> </DIV> </DIV>
<DIV style="margin-top:20pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">39</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
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  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:4.66%;margin-top:0pt;width:95.34%;" cellpadding="1" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">(loss) and net change in
unrealized appreciation (depreciation). If the return of capital distributions exceed their cost bases, the distributions are treated as realized gains. The actual amounts of income, return of capital, and capital gains are only determined by each
REIT after its fiscal year-end, and may differ from the estimated amounts. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:4.59%;">C.
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Income Taxes </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">The Fund is treated as a
separate taxable entity. It is the Fund&#8217;s intention to comply with the requirements of Subchapter M of the Internal Revenue Code and to distribute substantially all of its taxable income to its shareholders. Therefore, no provision for federal
income taxes or excise taxes has been made. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">The Fund may be subject to
foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. The Fund will accrue such taxes and recoveries as applicable based upon current interpretations of the tax rules and regulations that
exist in the markets in which it invests. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Management of the Fund has
concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. As of May 31, 2019, the tax years that remain subject to examination by the major tax jurisdictions under the statute of
limitations are from the year 2015 forward (with limited exceptions). </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:4.59%;">D.
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Dividends and Distributions to
Shareholders </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Distributions are recorded by
the Fund on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations that may differ from U.S. GAAP. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">The Fund has a Managed
Distribution Plan which currently provides for the Fund to make a monthly distribution of $0.113 per share. Distributions may represent earnings from net investment income, realized capital gains, or, if necessary, return of capital. Shareholders
should not draw any conclusions about the Fund&#8217;s investment performance from the terms of the Fund&#8217;s Managed Distribution Plan. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:4.59%;">E.
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Foreign Currency Transactions
</TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Non-U.S. investment
securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the foreign currency exchange rate effective at the end of the reporting period. Cost of investments is translated at the
currency exchange rate effective at the trade date. The gain or loss resulting from a change in currency exchange rates between the trade and settlement date of a portfolio transaction is treated as a gain or loss on foreign currency. Likewise, the
gain or loss resulting from a change in currency exchange rates between the date income is accrued and the date it is paid is treated as a gain or loss on foreign currency. The Fund does not isolate that portion of the results of operations arising
from changes in foreign exchange rates on investments from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:4.59%;">F.
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">When-issued Purchases and
Forward Commitments (Delayed Delivery) </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-bottom:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; width:95.41%;">The Fund
may engage in when-issued or forward commitment transactions. Securities transactions on a when-issued or forward commitment basis are also known as delayed delivery transactions. Delayed delivery transactions involve a commitment by the Fund to
purchase or sell a security at a future date (ordinarily up to 90 days later). </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:26pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">40</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
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<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:4.66%;margin-top:0pt;width:95.34%;" cellpadding="1" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">When-issued or forward
commitments enable the Fund to lock in what is believed to be an attractive price or yield on a particular security for a period of time, regardless of future changes in interest rates. The Fund records when-issued and forward commitment securities
on the trade date. The Fund maintains collateral for the securities purchased. Securities purchased on a when-issued or forward commitment basis begin earning interest on the settlement date. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:4.59%;">G.
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Leveraged Loans </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">The Fund may invest in direct
debt instruments which are interests in amounts owed by a corporate, governmental, or other borrower to lenders or lending syndicates. Leveraged loans are generally non-investment grade and often involve borrowers that are highly leveraged. The Fund
may invest in obligations of borrowers who are in bankruptcy proceedings. Leveraged loans are typically senior in the corporate capital structure of the borrower. A loan is often administered by a bank or other financial institution (the
&#8220;lender&#8221;) that acts as agent for all holders. The agent administers the terms of the loan, as specified in the loan agreement. The Fund&#8217;s investments in loans may be in the form of participations in loans or assignments of all or a
portion of loans from third parties. When investing in loan participations, the Fund has the right to receive payments of principal, interest and any fees to which it is entitled only from the lender selling the loan participation and only upon
receipt by the lender of payments from the borrower. The Fund generally has no right to enforce compliance with the terms of the loan agreement with the borrower. As a result, the Fund may be subject to the credit risk of both the borrower and the
lender that is selling the loan agreement. When the Fund purchases assignments from lenders it acquires direct rights against the borrower on the loan. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">The Fund may invest in
multiple series or tranches of a loan, which may have varying terms and carry different associated risks. Loan agreements may involve foreign borrowers and investments may be denominated in foreign currencies. Direct indebtedness of emerging
countries involves a risk that the government entities responsible for the repayment of the debt may be unable, or unwilling, to pay the principal and interest when due. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">The leveraged loans have
floating rate loan interests which generally pay interest at rates that are periodically determined by reference to a base lending rate plus a premium. The base lending rates are generally LIBOR, the prime rate offered by one or more U.S. banks or
the certificate of deposit rate. When a leveraged loan is purchased, the Fund may pay an assignment fee. On an ongoing basis, the Fund may receive a commitment fee based on the undrawn portion of the underlying line of credit portion of a leveraged
loan. Prepayment penalty fees are received upon the prepayment of a leveraged loan by a borrower. Prepayment penalty, facility, commitment, consent and amendment fees are recorded to income as earned or paid. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:4.59%;">H.
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;white-space:nowrap; width:95.41%;">Expenses
</TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-bottom:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; width:95.41%;">Expenses
incurred together by the Fund and other affiliated open- and closed-end funds are allocated in proportion to the net assets of each such fund, except where allocation of direct expenses to each fund or an alternative allocation method can be more
appropriately used. </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:42pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">41</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:4.66%;margin-top:0pt;width:95.34%;" cellpadding="1" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%;">In addition to the net annual
operating expenses that the Fund bears directly, the shareholders of the Fund indirectly bear the Fund&#8217;s pro-rata expenses of any underlying mutual funds in which the Fund invests. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:4.59%;">I.
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Regulation S-X </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-bottom:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; width:95.41%;">In August
2018, the Securities and Exchange Commission (&#8220;SEC&#8221;) adopted amendments to Regulation S-X, which are intended to facilitate the disclosure of information to investors and simplify compliance without significantly altering the information
provided to investors. The amendments include eliminating the requirement to: separately state book basis components of net assets on the Statement of Assets &amp; Liabilities; separately state the sources of distributions paid (except tax return of
capital distributions must still be separately disclosed) on the Statements of Changes in Net Assets; and state the book basis amount of undistributed net investment income on the Statements of Changes in Net Assets. Certain prior year amounts have
been reclassified for consistency with the current year presentation (see footnotes on Statements of Changes in Net Assets for separate disclosure). These reclassifications have no effect on total net assets, total distributions, the statement of
operations, financial highlights, net asset value or total return. </TD></TR></TABLE> </DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;3.&nbsp;Derivative Financial Instruments and
Transactions</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:2pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">Disclosures about
derivative instruments and hedging activities are intended to enable investors to understand how and why the Fund uses derivatives, how derivatives are accounted for, and how derivative instruments affect the Fund&#8217;s results of operations and
financial position. Summarized below are such disclosures and accounting policies of each specific type of derivative instrument used by the Fund.</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:4.66%;margin-top:4pt;width:95.34%;" cellpadding="6" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:4.59%;">A.
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Options Contracts </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%;">An options contract provides
the purchaser with the right, but not the obligation, to buy (call option) or sell (put option) a financial instrument at an agreed upon price. The Fund pursues an option income strategy whereby it purchases and sells out-of-the-money puts and
calls, creating an options spread designed to generate a consistent level of option cash flow which should result in additional yield. The Fund is subject to equity price risk in the normal course of pursuing its investment objective. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">When the Fund purchases an
option, it pays a premium and an amount equal to that premium is recorded as an asset. When the Fund writes an option, it receives a premium and an amount equal to that premium is recorded as a liability. The asset or liability is adjusted daily to
reflect the current market value of the option. Holdings of the Fund designated to cover outstanding written options are noted in the Schedule of Investments. Purchased options are reported as an asset within &#8220;Investment in securities at
value&#8221; in the Statement of Assets and Liabilities. Written options are reported as a liability within &#8220;Written options at value.&#8221; Changes in value of the purchased option are included in &#8220;Net change in unrealized appreciation
(depreciation) on investments&#8221; in the Statement of Operations. Changes in value of written options are included in &#8220;Net change in unrealized appreciation (depreciation) on written options&#8221; in the Statement of Operations. </TD></TR>

<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-bottom:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; width:95.41%;">If an
option expires unexercised, the Fund realizes a gain or loss to the extent of the </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:24pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">42</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
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  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:4.66%;margin-top:0pt;width:95.34%;" cellpadding="4" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">premium received or paid. If
an option is exercised, the premium received or paid is recorded as an adjustment to the proceeds from the sale or the cost basis of the purchase. The difference between the premium and the amount received or paid on effecting a closing purchase or
sale transaction is also treated as a realized gain or loss. Gain or loss on purchased options is included in &#8220;Net realized gain (loss) from investments&#8221; in the Statement of Operations. Gain or loss from written options is presented
separately as &#8220;Net realized gain (loss) from written options&#8221; in the Statement of Operations. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">The risk in writing call
options is that the Fund gives up the opportunity for profit if the market price of the security increases and the option is exercised. The risk in writing put options is that the Fund may incur a loss if the market price of the security decreases
and the option is exercised. The risk in buying options is that the Fund pays a premium whether or not the option is exercised. The use of such instruments may involve certain additional risks as a result of unanticipated movements in the market.
Writers (sellers) of options are normally subject to unlimited risk of loss, as the seller will be obligated to deliver or take delivery of the security at a predetermined price which may, upon exercise of the option, be significantly different from
the then-market value. However, the Fund may limit its risk of loss when writing an option by purchasing an option similar to the one that is sold, except for the fact it is further &#8220;out of the money.&#8221; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">The Fund invested in
derivative instruments during the period in the form of writing put/ call options and buying put/call options on the S&amp;P 500<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">&#174;</SUP> Index. The primary
risk associated with these derivative instruments is equity risk. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-bottom:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; width:95.41%;">The
following is a summary of the Fund&#8217;s options contracts as presented in the Statement of Assets and Liabilities as of May 31, 2019: </TD></TR></TABLE> </DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:80.31%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:31pt;padding-right:6pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:74.79%;">
<DIV style="float:left;">Assets: Purchased options at
value</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:12pt;text-align:center;text-decoration:none;text-transform:none; vertical-align:bottom;width:11.78%;">$<FONT
 style="padding-left:2.66pt;"></FONT>143<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:31pt;padding-right:6pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:74.79%;">
<DIV style="float:left;">Liabilities: Written options at
value</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal; line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:10.45pt;padding-top:1.25pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:11.78%;">(518)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:31pt;padding-right:6pt;padding-top:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:74.79%;">
<DIV style="float:left;">Net asset (liability)
balance</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:6pt;padding-top:2pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:11.78%;">$(375)
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:9.04%;text-align:left;text-decoration:none;text-transform:none;">The following is
a summary of the Fund&#8217;s options contracts as presented in the Statement of Operations as of May 31, 2019:</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:82.25%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:31pt;padding-right:6pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:73.02%;">
<DIV style="float:left;">Net realized gain (loss) from purchased
options</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:10.45pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.87%;">(1,545)
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:31pt;padding-right:6pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:73.02%;">
<DIV style="float:left;">Net realized gain (loss) from written
options</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:10.45pt;padding-top:1.25pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.87%;
">(3,723)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:31pt;padding-right:6pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:73.02%;">
<DIV style="float:left;">Net change in unrealized appreciation (depreciation) on purchased options
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:25.78pt;padding-top:1.25pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.87%;
">293
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(3)</SUP> </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:2.5pt;padding-left:31pt;padding-right:6pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:73.02%;">
<DIV style="float:left;">Net change in unrealized appreciation (depreciation) on written options
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal; line-height:11pt;line-height:11pt;padding-bottom:2.5pt;padding-left:17.12pt;padding-top:1.25pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:13.87%;">(101)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:31pt;padding-right:6pt;padding-top:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:73.02%;">
<DIV style="float:left;">Total realized and unrealized gain (loss) on purchased and written
options</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="border-bottom:medium double #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:6pt;padding-top:2pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:13.87%;">$(5,076)
 </TD></TR></TABLE> </DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:91.84%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:31pt;padding-right:1.5pt;padding-top:3pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:2.70%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(1)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:3pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:96.83%;">Amount
 included in Investment in securities at value. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:31pt;padding-right:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:2.70%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(2)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:96.83%;">Amount
 included in Net realized gain (loss) from investments. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:31pt;padding-right:1.5pt;padding-top:1pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:top;width:2.70%;">
<SUP style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">(3)</SUP> </TD>
<TD style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:3pt;padding-left:1.5pt;padding-top:1pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:96.83%;">Amount
 included in Net change in unrealized appreciation (depreciation) on investments. </TD></TR></TABLE> </DIV> </DIV> <DIV style="margin-top:47pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">43</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:9.04%;text-align:left;text-decoration:none;text-transform:none;">For the period ended May 31, 2019, the
average daily premiums paid by the Fund for purchased options was $210 and the average daily premiums received by the Fund from written options was $401</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;4.&nbsp;Investment Advisory Fees and Other Transactions
with Affiliates</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:2pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:4.66%;margin-top:6pt;width:95.34%;" cellpadding="1" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:4.59%;">A.
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;white-space:nowrap; width:95.41%;">Adviser
</TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Virtus Investment Advisers,
Inc. (the &#8220;Adviser&#8221;), an indirect wholly-owned subsidiary of Virtus Investment Partners, Inc. (&#8220;Virtus&#8221;), is the investment adviser of the Fund. The Adviser manages the Fund&#8217;s investment program and general operations
of the Fund, including oversight of the Fund&#8217;s subadvisers. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%;">As compensation for its
services to the Fund, the Adviser receives a fee at an annual rate of 0.70% of the Fund&#8217;s average daily Managed Assets, which is calculated daily and paid monthly. &#8220;Managed Assets&#8221; is defined as the value of the total assets of the
Fund minus the sum of all accrued liabilities of the Fund (other than the aggregate amount of any outstanding borrowings or other indebtedness, entered into for the purpose of leverage). </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:4.59%;">B.
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;white-space:nowrap; width:95.41%;">Subadvisers
</TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Kayne Anderson Rudnick
Investment Management, LLC (&#8220;KAR&#8221;), an indirect wholly-owned subsidiary of Virtus, is the subadviser of the equity portion of the Fund&#8217;s portfolio, Newfleet Asset Management LLC (&#8220;Newfleet&#8221;), an indirect wholly-owned
subsidiary of Virtus, is the subadviser of the fixed income portion of the Fund&#8217;s portfolio and Rampart Investment Management Company, LLC (&#8220;Rampart&#8221;), an indirect wholly-owned subsidiary of Virtus, is the subadviser of the
Fund&#8217;s options overlay strategy. These three subadvisers are, in the aggregate, responsible for the day-to-day portfolio management of the Fund for which they are each paid a fee by the Adviser. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:4.59%;">C.
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Administration Services
</TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Virtus Fund Services, LLC
(&#8220;VFS&#8221;), an indirect wholly-owned subsidiary of Virtus, serves as administrator to the Fund. For the services provided by the administrator under the Administration Agreement, the Fund pays the administrator an asset-based fee of 0.10%
per annum calculated on the Fund&#8217;s average daily Managed Assets. This fee is calculated daily and paid monthly. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">For the period ended May 31,
2019, the Fund incurred administration fees totaling $171 which are included in the Statement of Operations within the line item &#8220;Administration and accounting fees.&#8221; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">For the period ended May 31,
2019, the Fund waived administration fees totaling $1 as reported in the Statement of Operations for a waiver which expired December 2, 2018. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:4.59%;">D.
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:95.41%; ">Directors&#8217; Fees
</TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="line-height:0pt;padding-bottom:0pt;padding-left:0pt;padding-right:2pt;text-align:left;vertical-align:top;width:4.59%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:0pt;padding-left:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; width:95.41%;">For the
period ended May 31, 2019, the Fund incurred Directors&#8217; fees totaling $156 which are included in the Statement of Operations within the line item &#8220;Directors&#8217; fees and expenses.&#8221; </TD></TR></TABLE> </DIV> </DIV>
<DIV style="margin-top:56pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">44</DIV> </DIV>
</DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:15pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;5.&nbsp;Purchases and Sales of Securities</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:2pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">($ reported in thousands)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">Purchases and sales of securities (excluding
U.S. Government and agency securities, and short term investments) during the period ended May 31, 2019, were as follows:</DIV> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:23.99%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:2.5pt;padding-left:48pt;padding-right:6pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:48.30%;">Purchases
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:2.5pt;padding-left:6pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:49.70%;">Sales
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:12pt;padding-left:48pt;padding-right:6pt;padding-top:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:48.30%;">$51,618
 </TD>
<TD style="line-height:0pt;padding-bottom:12pt;padding-right:6pt;padding-top:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:12pt;padding-left:6pt;padding-top:2pt;text-align:center;text-decoration:none;text-transform:none; vertical-align:bottom;width:49.70%;">$72,135
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">Purchases and
sales of long-term U.S. Government and agency securities during the period ended May 31, 2019, were as follows:</DIV> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:23.99%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:2.5pt;padding-left:48pt;padding-right:6pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:48.30%;">Purchases
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:2.5pt;padding-left:6pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:49.70%;">Sales
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:12pt;padding-left:48pt;padding-right:6pt;padding-top:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:48.30%;">$17,977
 </TD>
<TD style="line-height:0pt;padding-bottom:12pt;padding-right:6pt;padding-top:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:12pt;padding-left:6pt;padding-top:2pt;text-align:center;text-decoration:none;text-transform:none; vertical-align:bottom;width:49.70%;">$16,249
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;6.&nbsp;Federal Income Tax
Information</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:2pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">($ reported in
thousands)</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">At May 31, 2019, federal
tax cost and aggregate gross unrealized appreciation (depreciation) of securities held by the Fund were as follows:</DIV> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:88.96%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-bottom:2.5pt;padding-right:6pt;text-align:center;vertical-align:bottom;width:28.01%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:2.5pt;padding-left:6pt;padding-right:6pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:12.86%;">Federal
<BR> Tax Cost </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:2.5pt;padding-left:6pt;padding-right:6pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:15.95%;">Unrealized
<BR> Appreciation </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:2.5pt;padding-left:6pt;padding-right:6pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:17.35%;">Unrealized
<BR> (Depreciation) </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:2.5pt;padding-left:6pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:19.83%;">Net
 Unrealized<BR> Appreciation<BR> (Depreciation) </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:15.5pt;padding-right:6pt;padding-top:2pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:28.01%;">Investments
 (including<BR> &#8195;Purchased Options) </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:6pt;padding-top:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:12.86%;">$335,004
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:6pt;padding-top:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:6pt;padding-top:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:15.95%;">$21,273
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:6pt;padding-top:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:6pt;padding-top:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:17.35%;">$(12,515)
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:6pt;padding-top:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-top:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:19.83%;">$8,758
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:12pt;padding-left:15.5pt;padding-right:6pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:28.01%;">Written
 Options </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:12pt;padding-left:23.35pt;padding-right:6pt;padding-top:1.25pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:12.86%;">(518)
 </TD>
<TD style="line-height:0pt;padding-bottom:12pt;padding-right:6pt;padding-top:1.25pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:12pt;padding-left:26.90pt;padding-right:6pt;padding-top:1.25pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:15.95%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:12pt;padding-right:6pt;padding-top:1.25pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:12pt;padding-left:29.56pt;padding-right:6pt;padding-top:1.25pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;
width:17.35%;">&#8212;
 </TD>
<TD style="line-height:0pt;padding-bottom:12pt;padding-right:6pt;padding-top:1.25pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:12pt;padding-left:22.45pt;padding-top:1.25pt;text-align:center;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:19.83%;
">&#8212;
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">For the fiscal
period ended November 30, 2018, the Fund had capital loss carryovers available to offset future realized gains as follows:</DIV> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:38.52%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:2.5pt;padding-left:15.5pt;padding-right:6pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:67.04%;" colspan="3">No
 Expiration </TD>
<TD style="border-bottom:0.5pt solid #000000;line-height:0pt;padding-bottom:2.5pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:2.5pt;padding-left:15.5pt;padding-right:6pt;padding-top:2pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:30.69%;">Short-Term
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:6pt;padding-top:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:2.5pt;padding-left:6pt;padding-right:6pt;padding-top:2pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:34.35%;">Long-Term
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:6pt;padding-top:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:2.5pt;padding-left:6pt;padding-top:2pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:30.96%;">Total
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:12pt;padding-left:15.5pt;padding-right:6pt;padding-top:2pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:30.69%;">$9,625
 </TD>
<TD style="line-height:0pt;padding-bottom:12pt;padding-right:6pt;padding-top:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:12pt;padding-left:6pt;padding-right:6pt;padding-top:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:34.35%;">$5,794
 </TD>
<TD style="line-height:0pt;padding-bottom:12pt;padding-right:6pt;padding-top:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:12pt;padding-left:6pt;padding-top:2pt;text-align:center;text-decoration:none;text-transform:none; vertical-align:bottom;width:30.96%;">$15,419
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">Under the
Regulated Investment Company Modernization Act of 2010, net capital losses recognized for tax years beginning after December 22, 2010, may be carried forward indefinitely, and their character is retained as short-term and/or long-term losses.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;7.&nbsp;Credit and Sector Risk</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">In countries with limited or developing
markets, investments may present greater risks than in more developed markets and the prices of such investments may be volatile. The consequences of political, social or economic changes in these markets may have disruptive effects on the market
prices of these investments and the income they generate, as well as the Fund&#8217;s ability to repatriate such amounts.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">High-yield/high risk securities typically
entail greater price volatility and/or principal and interest rate risk. There is a greater chance that an issuer will not be able to make principal and interest payments on time. Analysis of the creditworthiness of issuers of high-yield/high</DIV>
</DIV> <DIV style="margin-top:21pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">45</DIV>
</DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">risk
securities may be complex, and as a result, it may be more difficult for the Adviser and/ or subadviser to accurately predict risk.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">The Fund may invest a high percentage of its
assets in specific sectors of the market in the pursuit of its investment objective. Fluctuations in these sectors may have a greater impact on the Fund, positive or negative, than if the Fund did not invest in such sectors.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">The Fund borrows through its line of credit
for the purpose of leveraging its portfolio. While leverage presents opportunities for increasing the Fund&#8217;s total return, it also has the effect of potentially increasing losses. Accordingly, any event which adversely affects the value of an
investment held by the Fund would be magnified to the extent the Fund is leveraged.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;8.&nbsp;Borrowings</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:2pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">($ reported in thousands)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">On December 14, 2018, the Fund amended its
Credit Agreement (the &#8220;Agreement&#8221;) with a commercial bank (the &#8220;Bank&#8221;) that allows the Fund to borrow cash from the Bank, up to a limit of $155,000 (&#8220;Commitment Amount&#8221;). Borrowings under the Agreement are
collateralized by investments of the Fund. The Agreement results in the Fund being subject to certain covenants including asset coverage and portfolio composition (among others). If the Fund fails to meet or maintain certain covenants as required
under the Agreement, the Fund may be required to repay immediately, in part or in full, the loan balance outstanding under the Agreement, necessitating the sale of securities at potentially inopportune times. Interest is charged at LIBOR plus an
additional percentage rate on the amount borrowed. Commitment fees are charged on the undrawn balance, if less than 75% of the Commitment Amount is outstanding as a loan to the Fund. Total commitment fees accrued for the period ended May 31, 2019
were $78, and are included in the &#8220;Interest expense on borrowings&#8221; line of the Statement of Operations. The Agreement has a term that extends until the 179<SUP
 style="font-size:85%;font-style:Normal;text-transform:none;vertical-align:text-top;">th</SUP> day after the date that the lender delivers a &#8220;notice of termination&#8221; to the Fund. The Bank has the ability to require repayment of
outstanding borrowings under the Agreement upon certain circumstances such as an event of default.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">For the period ended May 31, 2019, the
average daily borrowings under the Agreement and the weighted daily average interest rate were $93,148 and 3.326%, respectively. At May 31, 2019, the amount of such outstanding borrowings was as follows:</DIV> <DIV style="text-align:center;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-right:auto;margin-top:0pt;width:24.63%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:2.5pt;padding-left:15.5pt;padding-right:6pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;width:53.88%;">Outstanding
<BR> Borrowings </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-bottom:2.5pt;padding-left:6pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:44.12%;">Interest
<BR> Rate </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:12pt;padding-left:15.5pt;padding-right:6pt;padding-top:2pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:53.88%;">$97,500
 </TD>
<TD style="line-height:0pt;padding-bottom:12pt;padding-right:6pt;padding-top:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:12pt;padding-left:6pt;padding-top:2pt;text-align:center;text-decoration:none;text-transform:none; vertical-align:bottom;white-space:nowrap;width:44.12%;">3.29%
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;9.&nbsp;
Indemnifications</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">Under the
Fund&#8217;s organizational documents, its Directors and officers are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In addition, in the normal course of business, the Fund enters into contracts
that provide a variety of indemnifications to other parties. The Fund&#8217;s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and that have not occurred. However, the Fund
has not had prior claims or losses pursuant to these arrangements and expects the risk of loss to be remote.</DIV> </DIV> <DIV style="margin-top:40pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">46</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:15pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;10.&nbsp;Capital Stock and Reinvestment Plan;
Reinvestment Program; Dividend Distributions; Tender Offers</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">At May 31, 2019, the Fund had one class of
common stock, par value $0.001 per share, of which 500,000,000 shares are authorized and 24,632,494 shares are outstanding.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">Registered shareholders may elect to have
all distributions paid by check mailed directly to the shareholder by Computershare as dividend paying agent. Pursuant to the Automatic Reinvestment and Cash Purchase Plan (the &#8220;Plan&#8221;), shareholders not making such election will have all
such amounts automatically reinvested by Computershare, as the Plan agent, in whole or fractional shares of the Fund, as the case may be. During the periods ended May 31, 2019, November 30, 2018, and December 31, 2017, 64,418, 100,956, and 78,042
shares were issued, respectively.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">Pursuant to the Board-approved stock
repurchase program, the Fund may repurchase up to 20% of its outstanding shares in the open market at a discount to NAV. The Fund started its buyback of shares on April 11, 2012. During the periods ended May 31, 2019, November 30, 2018, and December
31, 2017, there were no repurchases.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">On March 20, 2017, the Fund announced the
commencement of a 5% tender offer (1,283,636 shares) at price equal to 98% of the Fund&#8217;s NAV per share on the expiration date of the offer. The tender offer expired on June 23, 2017. The Fund purchased the maximum number of shares covered by
the offer price of $12.67 per share, which represented a price equal to 98% of the NAV per share as of the close of trading on the NYSE on June 23, 2017. As a result of the tender offer, $16,265 (reported in thousands) was distributed to
shareholders and an accretion of $0.01 to the NAV per share of all the outstanding shares after close of the tender offer.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">On June 20, 2019, the Fund paid a
distribution of $0.113 to shareholders of record on June 13, 2019. The distribution had an ex-dividend date of June 12, 2019.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">On July 18, 2019, the Fund paid a
distribution of $0.113 to shareholders of record on July 11, 2019. The distribution had an ex-dividend date of July 10, 2019.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;11.&nbsp;Regulatory Matters and Litigation</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">From time to time, the Adviser, KAR,
Newfleet, Rampart and/or their respective affiliates may be involved in litigation and arbitration as well as examinations and investigations by various regulatory bodies, including the SEC, involving compliance with, among other things, securities
laws, client investment guidelines, laws governing the activities of broker-dealers and other laws and regulations affecting their products and other activities. At this time, the Adviser believes that the outcomes of such matters are not likely,
either individually or in the aggregate, to be material to these financial statements.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;12.&nbsp;Recent Accounting Pronouncements</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">In March 2017, the Financial Accounting
Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;), ASU 2017-08, Receivables &#8211; Nonrefundable Fees and Other Costs (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities which
amends the amortization period for certain purchased callable debt securities held at a premium, shortening such period to the earliest call date. This ASU does not require any accounting change for debt securities held at a discount; the discount
continues to be amortized to maturity. This ASU is effective for fiscal years, and interim periods within those</DIV> </DIV> <DIV style="margin-top:22pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">47</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
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  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:uppercase;">May 31, 2019</DIV> </DIV>
<DIV style="margin-top:14pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">fiscal years, beginning after December 15, 2018. At this
time, management is evaluating the implications of these changes on the financial statements.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">In August 2018, the FASB issued ASU No.
2018-13, which changes certain fair value measurement disclosure requirements. This ASU, in addition to other modifications and additions, removes the requirement to disclose the amount and reasons for transfers between Level 1 and Level 2 of the
fair value hierarchy, the policy for the timing of transfers between levels and the valuation process for Level 3 fair value measurements. For public companies, the amendments are effective for financial statements issued for fiscal years beginning
after December 15, 2019, and interim periods within those fiscal years. Management has evaluated the implications of certain provisions of ASU No. 2018-13 and has determined to early adopt all aspects related to the removal and modification of
certain fair value measurement disclosures under the ASU effective immediately.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:7pt;text-align:left;text-decoration:none;text-transform:none;">Note&nbsp;13.&nbsp;Subsequent Events</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">Management has evaluated the impact of all
subsequent events on the Fund through the date the financial statements were available for issuance, and has determined that the following subsequent events require recognition or disclosure in these financial statements.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:4pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">On July 3, 2019, the Board of Directors of
the Fund announced via press release that the Fund will hold a joint special meeting of shareholders on November 1, 2019. At the joint special meeting of the Fund and Virtus Total Return Fund Inc. (ZF), shareholders of ZF will be asked to approve
the reorganization of ZF into the Fund, and shareholders of the Fund will be asked to approve the issuance of additional shares of common stock to effect the proposed reorganization. The reorganized fund will be named Virtus Total Return Fund
Inc.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">In addition, shareholders of the Fund will be
asked to approve Duff &amp; Phelps Investment Management Co., a current subadviser to ZF, as the subadviser on the equity portfolio of the Fund&#8217;s portfolio. Newfleet Asset Management and Rampart investment Management will continue as
subadvisers on the Fund.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">Finally, shareholders will
be asked to elect the following new directors: Donald C. Burke and Sidney E. Harris as Class I directors; John R. Mallin as a Class II director; and Connie D. McDaniel and Geraldine M. McNamara as Class III directors. Also, Thomas J. Brown, Hassell
H. McClellan and Richard E. Segerson were appointed, effective as of January 1, 2020, as Advisory Board Members to serve as the members the Fund&#8217;s Advisory Board. Messrs. Brown and McClellan were appointed to terms that expire on January 1,
2021, and Mr. Segerson was appointed to a term that expires in January 1, 2022. Advisory Board Members are not voting members of any of the Funds&#8217; Boards of Directors and they provide advice to the Boards, as requested. Each of these nominees
and advisory directors currently serves on the board of the Virtus open-end funds. If the nominated directors are elected, the Fund&#8217;s total annual operating expense ratio and individual share of directors&#8217; expenses are expected to
decrease as a result of director expenses being shared with other Virtus funds that the directors will also oversee.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">A joint proxy/registration statement for ZF and the Fund
was filed with the SEC on July 2, 2019 and is subject to the SEC&#8217;s review.</DIV> </DIV> <DIV style="margin-top:42pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">48</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
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<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:18pt;text-align:center;text-decoration:none;text-transform:none;">CERTIFICATION</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:12pt;text-align:left;text-decoration:none;text-indent:4.66%;text-transform:none;">The Fund&#8217;s Chief Executive Officer
(&#8220;CEO&#8221;) will file the required annual CEO certification regarding compliance with the NYSE&#8217;s listing standards no more than 30 days after the Fund&#8217;s annual shareholder meeting. The Fund has included the certifications of the
Fund&#8217;s CEO and Principal Financial Officer required by Section 302 of the Sarbanes-Oxley Act in the Fund&#8217;s Form N-CSR filed with the SEC for the period of this report.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:18pt;text-align:center;text-decoration:none;text-transform:none;">KEY INFORMATION</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:12pt;text-align:left;text-decoration:none;text-transform:none;">Shareholder Relations: 1-866-270-7788</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-indent:4.66%;text-transform:none;">For general information and literature, as well as updates
on net asset value, share price, major industry groups and other key information.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:18pt;text-align:center;text-decoration:none;text-transform:none;">REINVESTMENT PLAN</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:12pt;text-align:left;text-decoration:none;text-indent:4.66%;text-transform:none;">The Automatic Reinvestment and Cash Purchase
Plan (the &#8220;Plan&#8221;) offers shareholders a convenient way to acquire additional shares of the Fund. Registered holders will be automatically placed in the Plan. If shares are held at a brokerage firm, contact your broker about participation
in the Plan.</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:18pt;text-align:center;text-decoration:none;text-transform:none;">REPURCHASE OF SECURITIES</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:12pt;text-align:left;text-decoration:none;text-indent:4.66%;text-transform:none;">Notice is hereby given in accordance with
Section 23(c) of the 1940 Act that the Fund may from time to time purchase its shares of common stock in the open market when Fund shares are trading at a discount from their net asset value.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:18pt;text-align:center;text-decoration:none;text-transform:none;">PROXY VOTING INFORMATION (FORM N-PX)</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:12pt;text-align:left;text-decoration:none;text-indent:4.66%;text-transform:none;">The Adviser and subadvisers vote proxies
relating to portfolio securities in accordance with procedures that have been approved by the Fund&#8217;s Board. You may obtain a description of these procedures, along with information regarding how the Fund voted proxies during the most recent
12-month period ended June 30, free of charge, by calling toll-free 1-866-270-7788. This information is also available through the SEC&#8217;s website at <FONT style="font-style:italic;text-decoration:underline;">https://www.sec.gov</FONT><FONT
 style="font-style:italic;">.</FONT></DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:18pt;text-align:center;text-decoration:none;text-transform:none;">PORTFOLIO HOLDINGS
INFORMATION</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:12pt;text-align:left;text-decoration:none;text-indent:4.66%;text-transform:none;">For periods prior to the
quarter ending August 31, 2019, the Fund has filed a complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Fund&#8217;s Form N-Q is available on the SEC&#8217;s website at <FONT
 style="font-style:italic;text-decoration:underline;">https://www.sec.gov</FONT><FONT style="font-style:italic;">.</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:12pt;text-align:left;text-decoration:none;text-indent:4.66%;text-transform:none;">Effective August 31, 2019, the Fund will
file a complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. Form N-PORT will be available on the SEC&#8217;s website at <FONT
 style="font-style:italic;text-decoration:underline;">https://www.sec.gov</FONT><FONT style="font-style:italic;">.</FONT></DIV> </DIV> <DIV style="margin-top:61pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">49</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
</DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
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  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:18pt;text-align:center;text-decoration:none;text-transform:none;">Report on Annual Meeting of Shareholders</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:12pt;text-align:left;text-decoration:none;text-indent:4.66%;text-transform:none;">The Annual Meeting of Shareholders of Virtus
Global Dividend &amp; Income Fund Inc. was held on May 21, 2019. The meeting was held for purposes of electing three (3) nominees to the Board of Directors for a three-year term, or until a successor has been duly elected and qualified.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:12pt;padding-left:4.66%;text-align:left;text-decoration:none;text-transform:none;">The results were as follows:</DIV>
<DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:0pt;padding-right:6pt;padding-top:6pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:top;width:64.44%;">Election
 of Directors </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:6pt;padding-top:6pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:9.72pt;padding-right:6pt;padding-top:6pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:top;width:13.17%;">Votes&#8201;For
 </TD>
<TD style="line-height:0pt;padding-bottom:2.5pt;padding-right:6pt;padding-top:6pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:6pt;padding-top:6pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:top;width:20.15%;">Votes&#8201;Withheld
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:6pt;padding-top:2pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:64.44%;">
<DIV style="float:left;">George R. Aylward
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:6pt;padding-top:2pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:6pt;padding-top:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:top;white-space:nowrap;width:13.17%;">20,976,191
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:6pt;padding-top:2pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:34.20pt;padding-top:2pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:top;white-space:nowrap;width:20.15%;">884,163
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:0pt;padding-right:6pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:top;width:64.44%;">
<DIV style="float:left;">Philip R. McLoughlin
</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade"> </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:6pt;padding-top:1.25pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:6pt;padding-top:1.25pt;text-align:center; text-decoration:none;text-transform:none;vertical-align:top;white-space:nowrap;width:13.17%;">20,896,231
 </TD>
<TD style="line-height:0pt;padding-bottom:1.25pt;padding-right:6pt;padding-top:1.25pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:34.20pt;padding-top:1.25pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:top;white-space:nowrap;width:20.15%;">964,123
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:6pt;padding-top:1.25pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:64.44%;">
<DIV style="float:left;">William R.
Moyer</DIV><HR style="background-color:transparent;border-bottom:dotted medium Black;border-left:transparent;border-right:transparent;border-top:transparent;margin-bottom:-4pt;margin-top:4pt;padding-top:2pt;vertical-align:auto;" noshade="noshade">
</TD>
<TD style="line-height:0pt;padding-right:6pt;padding-top:1.25pt;text-align:left;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:6pt;padding-right:6pt;padding-top:1.25pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:top;white-space:nowrap;width:13.17%;">20,868,645
 </TD>
<TD style="line-height:0pt;padding-right:6pt;padding-top:1.25pt;text-align:center;vertical-align:top;width:2.00%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:34.20pt;padding-top:1.25pt;text-align:center;text-decoration:none;text-transform:none; vertical-align:top;white-space:nowrap;width:20.15%;">991,708
 </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:12pt;text-align:left;text-decoration:none;text-indent:4.66%;text-transform:none;">Based on the
foregoing, George R. Aylward, Philip R. McLoughlin, and William R. Moyer were re-elected to the Board of Directors. The Fund&#8217;s other Directors who continue in office are James M. Oates, James B. Rogers, Jr., R. Keith Walton, and Brian T.
Zino.</DIV> </DIV> <DIV style="margin-top:392pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:center;text-decoration:none;text-transform:none;">50</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;">
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<DIV style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">THIS PAGE INTENTIONALLY BLANK.</DIV> </DIV> </DIV>
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<DIV style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;margin-top:6pt;text-align:center;text-decoration:none;text-transform:none;">THIS PAGE INTENTIONALLY BLANK.</DIV>
<DIV style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:center;text-decoration:none;text-transform:none;">THIS PAGE INTENTIONALLY BLANK.</DIV> </DIV> </DIV>
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<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:left;text-decoration:none;text-transform:uppercase;">VIRTUS GLOBAL DIVIDEND &amp; INCOME FUND INC.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">101 Munson Street</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:Normal;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">Greenfield, MA 01301-9668</DIV> </DIV> <DIV style="margin-top:30pt;">
<DIV style="float:left;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Board of Directors</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">George R. Aylward</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Philip R. McLoughlin, Chairman</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">William R. Moyer</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">James M. Oates</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">James B. Rogers, Jr.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">R. Keith Walton</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Brian T. Zino</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">William H. Wright II, Advisory Member</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Officers</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:12.6184pt;text-align:left;text-decoration:none;text-indent:-12.6184pt;text-transform:none; ">George R. Aylward, President
and Chief Executive Officer</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Francis G. Waltman, Executive Vice
President</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:12.6184pt;text-align:left;text-decoration:none;text-indent:-12.6184pt;text-transform:none;">W. Patrick
Bradley, Executive Vice President, Chief Financial Officer, and Treasurer</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:12.6184pt;text-align:left;text-decoration:none;text-indent:-12.6184pt;text-transform:none;">Nancy J. Engberg, Senior Vice
President and Chief Compliance Officer</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Julia R. Short, Senior Vice
President</DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Peter Batchelar, Senior Vice President</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:12.6184pt;text-align:left;text-decoration:none;text-indent:-12.6184pt;text-transform:none; ">William Renahan, Vice
President, Chief Legal Officer, and Secretary</DIV> </DIV> <DIV style="float:right;overflow:hidden;position:relative;width:48%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Investment Adviser</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Virtus Investment Advisers, Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">One Financial Plaza</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Hartford, CT 06103-2608</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Administrator</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Virtus Fund Services, LLC</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">One Financial Plaza</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Hartford, CT 06103</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Custodian</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">The Bank of New York Mellon</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">240 Greenwich Street</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">New York, NY 10286-1048</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Transfer Agent</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Computershare Trust Company NA</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">P.O. Box 43078</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Providence, RI 02940-3078</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">Fund Counsel</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Sullivan &amp; Worcester LLP</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">1666 K Street, NW</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">7th Floor</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Washington, DC 20006</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:8pt;text-align:left;text-decoration:none;text-transform:none;">How to Contact Us</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:2pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:2pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; width:42.84%;">Shareholder
Services </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:2.00pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:57.16%;">1-866-270-7788
 </TD></TR></TABLE> </DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:2pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:4pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:53.02%;">Website
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-left:0.00pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:46.98%;">www.Virtus.com
 </TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;">&nbsp; </DIV> <DIV style="border:1pt solid black;margin-top:138pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;margin-top:12pt;padding-left:1.46%;text-align:left;text-decoration:none;text-transform:none;">Important Notice to Shareholders<BR> <FONT
 style="font-weight:Normal;">The Securities and Exchange Commission has modified mailing regulations for semiannual and annual shareholder fund reports to allow mutual fund companies to send a single copy of these reports to shareholders who share
the same mailing address. If you would like additional copies, please call Mutual Fund Services at 1-866-270-7788.</FONT></DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  <DIV style="width:100%;"> <DIV style="float:right;overflow:hidden;position:relative;width:21.16%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Virtus Global Dividend &amp; Income Fund Inc.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">c/o Computershare Investor Services</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">P.O. Box 43078</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">Providence, RI 02940</DIV> </DIV>
<DIV style="float:left;overflow:hidden;position:relative;width:30%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:Normal;line-height:12pt;text-align:left;text-decoration:none;text-transform:none;">For more information about<BR> Virtus Closed-End Funds, please<BR> contact us
at <FONT style="font-weight:bold;">1-866-270-7788<BR> </FONT>or <FONT style="font-weight:bold;">closedendfunds@virtus.com<BR> </FONT>or visit <FONT style="font-weight:bold;">Virtus.com</FONT>.</DIV> </DIV>
<DIV style="background-color:#000000;float:left;height:388pt;margin-top:11pt;position:relative;width:.17%;z-index:-1;" type="Block"> </DIV> <DIV style="width:37.69%;" type="Block"> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:4pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; white-space:nowrap;width:85.86%;">8643
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top;white-space:nowrap; width:14.14%;">07-19
</TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV>
<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left"><B>Item&nbsp;2.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>Code of Ethics. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Response not required for semi-annual report. </P> <P STYLE="font-size:26pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left"><B>Item&nbsp;3.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>Audit Committee Financial Expert. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Response not required for semi-annual report. </P> <P STYLE="font-size:26pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left"><B>Item&nbsp;4.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>Principal Accountant Fees and Services. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Response not required for semi-annual report. </P> <P STYLE="font-size:26pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>Audit Committee of Listed Registrants. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Response not required for semi-annual report. </P> <P STYLE="font-size:26pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left"><B>Item&nbsp;6.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>Investments. </B></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is
included as part of the report to shareholders filed under Item 1 of this form. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Not applicable. </P></TD></TR></TABLE> <P STYLE="font-size:26pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left"><B>Item&nbsp;7.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>Disclosure of Proxy Voting Policies and Procedures for <FONT STYLE="white-space:nowrap">Closed-End</FONT>
Management Investment Companies. </B></P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Response not required for semi-annual report. </P>
<P STYLE="font-size:26pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left"><B>Item&nbsp;8.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>Portfolio Managers of <FONT STYLE="white-space:nowrap">Closed-End</FONT> Management Investment Companies.
</B></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Response not required for semi-annual report. </P></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">There has been no change, as of the date of this filing, in any of the portfolio managers identified in
response to paragraph (a)(1) of this Item in the registrant&#146;s most recently filed annual report on Form <FONT STYLE="white-space:nowrap">N-CSR.</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:26pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>Purchases of Equity Securities by <FONT STYLE="white-space:nowrap">Closed-End</FONT> Management Investment
Company and Affiliated Purchasers. </B></P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>REGISTRANT PURCHASES OF EQUITY SECURITIES </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="9%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="15%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #a0a0a0; BORDER-TOP:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Period</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-TOP:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(a)&nbsp;Total&nbsp;Number&nbsp;&nbsp;&nbsp;&nbsp;<BR>of Shares (or&nbsp;&nbsp;&nbsp;&nbsp;<BR>Units)
Purchased&nbsp;&nbsp;&nbsp;&nbsp;</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-TOP:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(b)&nbsp;Average&nbsp;&nbsp;&nbsp;&nbsp;<BR>Price&nbsp;Paid&nbsp;per&nbsp;&nbsp;&nbsp;&nbsp;<BR>Share&nbsp;(or&nbsp;Unit)&nbsp;&nbsp;&nbsp;
&nbsp;</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-TOP:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(c)&nbsp;Total&nbsp;Number&nbsp;of&nbsp;Shares&nbsp;&nbsp;&nbsp;&nbsp;<BR>(or&nbsp;Units)&nbsp;Purchased&nbsp;as&nbsp;Part&nbsp;&nbsp;&nbsp;
&nbsp;<BR>of&nbsp;Publicly&nbsp;Announced&nbsp;Plans&nbsp;&nbsp;&nbsp;&nbsp;<BR>or Programs&nbsp;&nbsp;&nbsp;&nbsp;</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-TOP:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #a0a0a0; BORDER-RIGHT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(d)&nbsp;Maximum&nbsp;Number&nbsp;(or&nbsp;&nbsp;&nbsp;&nbsp;<BR>Approximate&nbsp;Dollar&nbsp;Value)&nbsp;of&nbsp;Shares&nbsp;&nbsp;&nbsp;
&nbsp;<BR>(or&nbsp;Units)&nbsp;that&nbsp;May&nbsp;Yet&nbsp;Be&nbsp;Purchased&nbsp;&nbsp;&nbsp;&nbsp;<BR>Under the Plans or Programs&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:-0.60em; font-size:10pt; font-family:Times New Roman">December&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:-0.60em; font-size:10pt; font-family:Times New Roman">2018</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">0</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">$0.00</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">0</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-right:2pt">2,654,033</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:-0.60em; font-size:10pt; font-family:Times New Roman">January&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:-0.60em; font-size:10pt; font-family:Times New Roman">2019</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">0</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">$0.00</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">0</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-right:2pt">2,654,033</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:-0.60em; font-size:10pt; font-family:Times New Roman">February&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:-0.60em; font-size:10pt; font-family:Times New Roman">2019</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">0</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">$0.00</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">0</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-right:2pt">2,654,033</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:-0.60em; font-size:10pt; font-family:Times New Roman">March&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:-0.60em; font-size:10pt; font-family:Times New Roman">2019</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">0</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">$0.00</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">0</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-right:2pt">2,654,033</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:-0.60em; font-size:10pt; font-family:Times New Roman">April&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:-0.60em; font-size:10pt; font-family:Times New Roman">2019</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">0</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">$0.00</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">0</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-right:2pt">2,654,033</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:-0.60em; font-size:10pt; font-family:Times New Roman">May&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:-0.60em; font-size:10pt; font-family:Times New Roman">2019</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">0</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">$0.00</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #a0a0a0">0</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-right:2pt">2,654,033</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:-0.60em; font-size:10pt; font-family:Times New Roman">Total&nbsp;&nbsp;&nbsp;&nbsp;</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #a0a0a0"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">0</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #a0a0a0"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$0.00</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #a0a0a0"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">0</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #a0a0a0; BORDER-BOTTOM:1px solid #a0a0a0; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2,654,033</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left">a.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The date each plan or program was announced: 3/13/12 and expanded 9/19/12 and 2/10/14 </P></TD>
<TD WIDTH="7%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left">b.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The dollar amount (or share or unit amount) approved: 6,884,886 shares </P></TD>
<TD WIDTH="7%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left">c.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The expiration date (if any) of each plan or program: none </P></TD>
<TD WIDTH="7%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left">d.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Each plan or program that has expired during the period covered by the table: none </P></TD>
<TD WIDTH="7%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left">e.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Each plan or program the registrant has determined to terminate prior to expiration, or under which the
registrant does not intend to make further purchases: none </P></TD>
<TD WIDTH="7%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:26pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left"><B>Item&nbsp;10.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>&nbsp;Submission of Matters to a Vote of Security Holders. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant&#146;s board of
trustees, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-</P>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">
K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR <FONT STYLE="white-space:nowrap">240.14a-101)),</FONT> or this Item. [In addition, there are no newly identified
portfolio managers as the date of this filing.] </P> <P STYLE="font-size:26pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left"><B>Item&nbsp;11.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>&nbsp;Controls and Procedures. </B></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The registrant&#146;s principal executive and principal financial officers, or persons performing similar
functions, have concluded that the registrant&#146;s disclosure controls and procedures (as defined in Rule <FONT STYLE="white-space:nowrap">30a-3(c)</FONT> under the Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;) (17 CFR <FONT
STYLE="white-space:nowrap">270.30a-3(c)))</FONT> are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required
by Rule <FONT STYLE="white-space:nowrap">30a-3(b)</FONT> under the 1940 Act (17 CFR <FONT STYLE="white-space:nowrap">270.30a-3(b))</FONT> and Rules <FONT STYLE="white-space:nowrap">13a-15(b)</FONT> or
<FONT STYLE="white-space:nowrap">15d-15(b)</FONT> under the Securities Exchange Act of 1934, as amended (17 CFR <FONT STYLE="white-space:nowrap">240.13a-15(b)</FONT> or <FONT STYLE="white-space:nowrap">240.15d-15(b)).</FONT> </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">There were no changes in the registrant&#146;s internal control over financial reporting (as defined in Rule
<FONT STYLE="white-space:nowrap">30a-3(d)</FONT> under the 1940 Act (17 CFR <FONT STYLE="white-space:nowrap">270.30a-3(d)))</FONT> that occurred during the registrant&#146;s last fiscal quarter that has materially affected, or is reasonably likely
to materially affect, the registrant&#146;s internal control over financial reporting. </P></TD></TR></TABLE> <P STYLE="font-size:26pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left"><B>Item&nbsp;12.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>&nbsp;Disclosure of Securities Lending Activities for <FONT STYLE="white-space:nowrap">Closed-End</FONT>
Management Investment Companies. </B></P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Not applicable. </P>
<P STYLE="font-size:26pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left"><B>Item&nbsp;13.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>&nbsp;Exhibits. </B></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="8%" VALIGN="top" ALIGN="left">(a)(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Code of ethics, or any amendment thereto, that is the subject of disclosure required by Item 2 is attached
hereto. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="8%" VALIGN="top" ALIGN="left">(a)(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Certifications pursuant to Rule <FONT STYLE="white-space:nowrap">30a-2(a)</FONT> under the 1940 Act and
Section&nbsp;302 of the Sarbanes-Oxley Act of 2002 are attached hereto. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="8%" VALIGN="top" ALIGN="left">(a)(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Not applicable. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="8%" VALIGN="top" ALIGN="left">(a)(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Not applicable. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="8%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Certifications pursuant to Rule <FONT STYLE="white-space:nowrap">30a-2(b)</FONT> under the 1940 Act and
Section&nbsp;906 of the Sarbanes-Oxley Act of 2002 are attached hereto. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="8%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">A copy of the Registrant&#146;s notice to shareholders pursuant to Rule 19(a) under the 1940 Act which
accompanied distributions paid during the period ended May&nbsp;31, 2019 pursuant to the Registrant&#146;s Managed Distribution Plan are filed herewith as required by the terms of the Registrant&#146;s exemptive order issued on November&nbsp;17,
2008. </P></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt">


<TR>

<TD WIDTH="38%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="59%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">(Registrant)<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Virtus Global Dividend&nbsp;&amp; Income Fund
Inc.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">By (Signature and Title)*<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ George R.
Aylward&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3">
<P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;George R. Aylward, President</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3">
<P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(principal executive officer)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">Date<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8/5/19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="32" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940,
this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="32" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">By (Signature and Title)*<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ George R.
Aylward&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3">
<P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;George R. Aylward, President</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3">
<P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(principal executive officer)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">Date<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8/5/19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="32" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">By (Signature and Title)*<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ W. Patrick
Bradley&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3">
<P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;W. Patrick Bradley, Executive Vice President,</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3">
<P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer, and Treasurer</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3">
<P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(principal financial officer)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="32" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">Date<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8/5/19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P></TD></TR>
</TABLE> <P STYLE="margin-top:36pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><SUP STYLE="font-size:85%; vertical-align:top">*</SUP>&nbsp;Print the name and title of each signing officer
under his or her signature. </P>
</BODY></HTML>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>d690452dex99cert.htm
<DESCRIPTION>CERTIFICATION PURSUANT TO SECTION 302
<TEXT>
<HTML><HEAD>
<TITLE>Certification Pursuant to Section 302</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Certification Pursuant to Rule <FONT STYLE="white-space:nowrap">30a-2(a)</FONT> under the 1940
Act and Section&nbsp;302 of the Sarbanes-Oxley Act </B></P> <P STYLE="margin-top:36pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">I, George R. Aylward, certify that: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">I have reviewed this report on Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> of Virtus Global
Dividend&nbsp;&amp; Income Fund Inc.; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule <FONT STYLE="white-space:nowrap">30a-3(c)</FONT> under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule
<FONT STYLE="white-space:nowrap">30a-3(d)</FONT> under the Investment Company Act of 1940) for the registrant and have: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and presented in
this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that
occurred during the registrant&#146;s most recent fiscal quarter that has </P></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">
materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and
the audit committee of the registrant&#146;s board of directors (or persons performing the equivalent functions): </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant&#146;s ability to record, process, summarize, and report financial information; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Any fraud, whether or not material, that involves management or other employees who have a significant role
in the registrant&#146;s internal control over financial reporting. </P></TD></TR></TABLE> <P STYLE="font-size:36pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt">


<TR>

<TD WIDTH="24%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="47%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top">
<P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">Date:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8/5/19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;</U></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><U>/s/ George R.
Aylward&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">George R. Aylward, President</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">(principal executive officer)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Certification Pursuant to Rule <FONT STYLE="white-space:nowrap">30a-2(a)</FONT> under the 1940
Act and Section&nbsp;302 of the Sarbanes-Oxley Act </B></P> <P STYLE="margin-top:36pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">I, W. Patrick Bradley, certify that: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">I have reviewed this report on Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> of Virtus Global
Dividend&nbsp;&amp; Income Fund Inc.; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule <FONT STYLE="white-space:nowrap">30a-3(c)</FONT> under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule
<FONT STYLE="white-space:nowrap">30a-3(d)</FONT> under the Investment Company Act of 1940) for the registrant and have: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and presented in
this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that
occurred during the registrant&#146;s most recent fiscal quarter that has </P></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">
materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and
the audit committee of the registrant&#146;s board of directors (or persons performing the equivalent functions): </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant&#146;s ability to record, process, summarize, and report financial information; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">Any fraud, whether or not material, that involves management or other employees who have a significant role
in the registrant&#146;s internal control over financial reporting. </P></TD></TR></TABLE> <P STYLE="font-size:36pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt">


<TR>

<TD WIDTH="24%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="47%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top">
<P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">Date:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8/5/19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;</U></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><U>/s/ W. Patrick
Bradley&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">W. Patrick Bradley, Executive Vice President,</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Chief Financial Officer, and Treasurer</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">(principal financial officer)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.906CERT
<SEQUENCE>3
<FILENAME>d690452dex99906cert.htm
<DESCRIPTION>CERTIFICATION PURSUANT TO SECTION 906
<TEXT>
<HTML><HEAD>
<TITLE>Certification Pursuant to Section 906</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Certification Pursuant to Rule <FONT STYLE="white-space:nowrap">30a-2(b)</FONT> under the 1940
Act and Section&nbsp;906 of the Sarbanes-Oxley Act </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">I, George R. Aylward, President of Virtus Global Dividend&nbsp;&amp; Income Fund
Inc. (the &#147;Registrant&#148;), certify that: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> of the Registrant containing the financial statements
(the &#147;Report&#148;) fully complies with the requirements of Section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Registrant. </P></TD></TR></TABLE> <P STYLE="font-size:36pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt">


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<TD WIDTH="11%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top">Date:<U>&nbsp;&nbsp;&nbsp;8/5/19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP><U>/s/ George R.
Aylward&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">George R. Aylward, President</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">(principal executive officer)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">I, W. Patrick Bradley, Executive Vice President, Chief Financial Officer, and Treasurer of Virtus Global
Dividend&nbsp;&amp; Income Fund Inc. (the &#147;Registrant&#148;), certify that: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> of the Registrant containing the financial statements
(the &#147;Report&#148;) fully complies with the requirements of Section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Registrant. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt">


<TR>

<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="36%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top">Date:<U>&nbsp;&nbsp;&nbsp;8/5/19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><U>/s/ W. Patrick
Bradley&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>W. Patrick Bradley, Executive Vice President,</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Chief Financial Officer, and Treasurer</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">(principal financial officer)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.13(C)
<SEQUENCE>4
<FILENAME>d690452dex9913c.htm
<DESCRIPTION>19(A) NOTICES
<TEXT>
<HTML><HEAD>
<TITLE>19(a) Notices</TITLE>
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 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g690452g0731101615143.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:52pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>SECTION 19(a) NOTICE </B></P>
<P STYLE="margin-top:30pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman"><B>Hartford, CT, December</B><B></B><B>&nbsp;20, 2018 </B>--
<FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>Virtus Global Dividend&nbsp;&amp; Income Fund Inc.</U></FONT><FONT STYLE="font-family:Times New Roman"> (NYSE: ZTR) declared a distribution of $0.113 per share to shareholders of record at
the close of business on December&nbsp;13, 2018 (ex-date December 12, 2018). </FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The following table sets forth the
estimated amounts of the most current distribution and the cumulative distributions paid this fiscal year to date from the following sources. All amounts are expressed based on U.S. generally accepted accounting principles which may differ from
federal income tax regulations. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt">


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<TD></TD>
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<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><B>Distribution Estimates</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" COLSPAN="9" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000"><B>November&nbsp;2018&nbsp;(MTD)</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" COLSPAN="9" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Year-to-date&nbsp;(YTD)&nbsp;</FONT></FONT></B><SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP><B></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">(Sources)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="top" COLSPAN="4" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Per&nbsp;Share</I><B></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Amount</I><B></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B></B><I>Percentage<BR>of Current<BR>Distribution</I><B></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="top" COLSPAN="4" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Per&nbsp;Share</I><B></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Amount</I><B></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000"><B></B><I>Percentage<BR>of Current<BR>Distribution</I><B></B></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net
Investment Income</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">$0.027</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">23.9%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">$0.339</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">27.2%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
Foreign Currency Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
<FONT STYLE="white-space:nowrap">Short-Term</FONT> Capital Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
<FONT STYLE="white-space:nowrap">Long-Term</FONT> Capital Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Return of
Capital (or other Capital Source)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.086</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">76.1%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.904</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">72.8%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><B>Total Distribution</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>$0.113</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>100.0%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>$1.243</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>100.0%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD January 10, 2018 to November 30, 2018. (The distribution paid on January 9, 2018 was reportable for tax on
Form 1099 in 2017. The Fund changed its fiscal year-end to November 30 in 2018.) </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt">


<TR>

<TD WIDTH="88%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><B>November 30, 2018</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>Average Annual Total Return on NAV for the 5-year period
<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">3.23%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>Current Fiscal YTD Annualized Distribution Rate
<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">11.79%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>YTD Cumulative Total Return on NAV <SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right"><FONT STYLE="white-space:nowrap">-9.67%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>YTD Cumulative Distribution Rate <SUP
STYLE="font-size:85%; vertical-align:top">(5)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.79%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">Average Annual Total Return on NAV is the annual compound return for the five-year period. It reflects the
change in the fund&#146;s NAV and reinvestment of all distributions. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">Current Fiscal YTD Annualized Distribution Rate is the current distribution rate (excluding the supplemental
gain) annualized as a percentage of the fund&#146;s NAV at month end. The rate represents an 11 month period due to the Fund&#146;s year-end change in 2018. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD Cumulative Total Return on NAV is the percentage change in the fund&#146;s NAV from the first day of the
year to this month end, including distributions paid and assuming reinvestment of those distributions. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the year to this
month end as a percentage of the fund&#146;s NAV at month end. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">Under the terms of its managed distribution plan, the fund will seek to maintain a
consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. You should not draw any conclusions about the fund&#146;s investment performance
</P>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">
from the amount of this distribution or from the terms of the fund&#146;s managed distribution plan. Shareholders should note, however, that if the fund&#146;s aggregate net investment income and
net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the fund&#146;s assets and will constitute a return of the shareholder&#146;s capital. </P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your
distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the fund is paid back to you. A return of capital distribution does not necessarily reflect the fund&#146;s
investment performance and should not be confused with &#147;yield&#148; or &#147;income.&#148; </P> <P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The amounts and
sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions will depend on the fund&#146;s investment experience during the remainder
of its fiscal year and may be subject to changes based on tax regulations. The fund or your broker will send you a Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for the calendar year that will tell you how to report these distributions for
federal income tax purposes. </P> <P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">For more information on
<FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>Virtus Global Dividend&nbsp;&amp; Income Fund Inc.</U></FONT><FONT STYLE="font-family:Times New Roman">, contact shareholder services at (866) 270-7788, by email at </FONT><FONT
STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>closedendfunds@virtus.com</U></FONT><FONT STYLE="font-family:Times New Roman">, or through the </FONT><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>closed end fund</U></FONT><FONT
STYLE="font-family:Times New Roman"> section on the web at </FONT><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>www.virtus.com</U></FONT><FONT STYLE="font-family:Times New Roman">. </FONT></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; margin-right:7%; font-size:11pt; font-family:Times New Roman" ALIGN="right">Cusip: 92835W107 </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"># # # </P>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g690452g0731101615346.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:52pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>SECTION 19(a) NOTICE </B></P>
<P STYLE="margin-top:30pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman"><B>Hartford, CT, January 9, 2019 </B>-- <FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>Virtus Global
Dividend&nbsp;&amp; Income Fund Inc.</U></FONT><FONT STYLE="font-family:Times New Roman"> (NYSE: ZTR) declared a distribution of $0.113 per share to shareholders of record at the close of business on December 31, 2018 (ex-date January 4, 2019).
</FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The following table sets forth the estimated amounts of the most current distribution and the cumulative
distributions paid this fiscal year to date from the following sources. All amounts are expressed based on U.S. generally accepted accounting principles which may differ from federal income tax regulations. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt">


<TR>

<TD WIDTH="58%"></TD>

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<TD></TD>
<TD></TD>
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<TD></TD>
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<TD nowrap style="width:9pt"></TD>
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<TD VALIGN="bottom" WIDTH="0%"></TD>
<TD nowrap style="width:9pt"></TD>
<TD></TD>
<TD></TD>
<TD nowrap style="width:9pt"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><B>Distribution Estimates</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" COLSPAN="9" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000"><B>&nbsp;&nbsp;December&nbsp;2018&nbsp;(MTD)&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" COLSPAN="9" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&nbsp;&nbsp;Year-to-date&nbsp;(YTD)&nbsp;</FONT></FONT></B><SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">(Sources)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="top" COLSPAN="4" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Per&nbsp;Share</I><B></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Amount</I><B></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B></B><I>Percentage<BR>of Current<BR>Distribution</I><B></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="top" COLSPAN="4" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Per&nbsp;Share</I><B></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Amount</I><B></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000"><B></B><I>Percentage<BR>of Current<BR>Distribution</I><B></B></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net
Investment Income</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">$0.014</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">12.5%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">$0.014</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">12.5%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
Foreign Currency Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
<FONT STYLE="white-space:nowrap">Short-Term</FONT> Capital Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
<FONT STYLE="white-space:nowrap">Long-Term</FONT> Capital Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Return of
Capital (or other Capital Source)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.099</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">87.5%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.099</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">87.5%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><B>Total Distribution</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>$0.113</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>100.0%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>$0.113</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>100.0%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD December 1, 2018 to November 30, 2019. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt">


<TR>

<TD WIDTH="89%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><B>December 31, 2018</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>Average Annual Total Return on NAV for the <FONT STYLE="white-space:nowrap">5-year</FONT> period <SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">1.39%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>Current Fiscal YTD Annualized Distribution Rate
<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">14.02%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>YTD Cumulative Total Return on NAV <SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-7.05%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>YTD Cumulative Distribution Rate <SUP
STYLE="font-size:85%; vertical-align:top">(5)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.17%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">Average Annual Total Return on NAV is the annual compound return for the five-year period. It reflects the
change in the fund&#146;s NAV and reinvestment of all distributions. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">Current Fiscal YTD Annualized Distribution Rate is the current distribution rate (excluding the supplemental
gain) annualized as a percentage of the fund&#146;s NAV at month end. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD Cumulative Total Return on NAV is the percentage change in the fund&#146;s NAV from the first day of the
year to this month end, including distributions paid and assuming reinvestment of those distributions. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the year to this
month end as a percentage of the fund&#146;s NAV at month end. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">Under the terms of its managed distribution plan, the fund will seek to maintain a
consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. You should not draw any conclusions about the fund&#146;s investment performance
</P>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">
from the amount of this distribution or from the terms of the fund&#146;s managed distribution plan. Shareholders should note, however, that if the fund&#146;s aggregate net investment income and
net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the fund&#146;s assets and will constitute a return of the shareholder&#146;s capital. </P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your
distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the fund is paid back to you. A return of capital distribution does not necessarily reflect the fund&#146;s
investment performance and should not be confused with &#147;yield&#148; or &#147;income.&#148; </P> <P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The amounts and
sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions will depend on the fund&#146;s investment experience during the remainder
of its fiscal year and may be subject to changes based on tax regulations. The fund or your broker will send you a Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for the calendar year that will tell you how to report these distributions for
federal income tax purposes. </P> <P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">For more information on
<FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>Virtus Global Dividend &amp; Income Fund Inc.</U></FONT><FONT STYLE="font-family:Times New Roman">, contact shareholder services at (866) 270-7788, by email at </FONT><FONT
STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>closedendfunds@virtus.com</U></FONT><FONT STYLE="font-family:Times New Roman">, or through the </FONT><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>closed end fund</U></FONT><FONT
STYLE="font-family:Times New Roman"> section on the web at www.virtus.com. </FONT></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; margin-right:7%; font-size:11pt; font-family:Times New Roman" ALIGN="right">Cusip: 92835W107 </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"># # # </P>

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<IMG SRC="g690452g0731101615346.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:52pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>SECTION 19(a) NOTICE </B></P>
<P STYLE="margin-top:30pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman"><B>Hartford, CT, February</B><B></B><B>&nbsp;19, 2019 </B>--
<FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>Virtus Global Dividend&nbsp;&amp; Income Fund Inc.</U></FONT><FONT STYLE="font-family:Times New Roman"> (NYSE: ZTR) declared a distribution of $0.113 per share to shareholders of record at
the close of business on February 11, 2019 (ex-date February 8, 2019). </FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The following table sets forth the
estimated amounts of the most current distribution and the cumulative distributions paid this fiscal year to date from the following sources. All amounts are expressed based on U.S. generally accepted accounting principles which may differ from
federal income tax regulations. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt">


<TR>

<TD WIDTH="62%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><B>Distribution Estimates</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B>January&nbsp;2019&nbsp;(MTD)</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Year-to-date&nbsp;(YTD)&nbsp;
</FONT></FONT></B><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">(Sources)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Per&nbsp;Share</I><B></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Amount</I><B></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B></B><I>Percentage<BR>of Current<BR>Distribution</I><B></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Per&nbsp;Share</I><B></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Amount</I><B></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B></B><I>Percentage<BR>of Current<BR>Distribution</I><B></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net
Investment Income</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">$0.012</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">10.8%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">$0.026</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">11.7%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
Foreign Currency Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
<FONT STYLE="white-space:nowrap">Short-Term</FONT> Capital Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
<FONT STYLE="white-space:nowrap">Long-Term</FONT> Capital Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Return of
Capital (or other Capital Source)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.101</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">89.2%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.200</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">88.3%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><B>Total Distribution</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>$0.113</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>100.0%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>$0.226</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>100.0%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"><B>&nbsp;</B></TD></TR>
</TABLE></DIV> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD December 1, 2018 to November 30, 2019. </P></TD></TR></TABLE>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt">


<TR>

<TD WIDTH="87%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><B>January 31, 2019</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>Average Annual Total Return on NAV for the <FONT STYLE="white-space:nowrap">5-year</FONT> period <SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">3.00%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>Current Fiscal YTD Annualized Distribution Rate
<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">13.40%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>YTD Cumulative Total Return on NAV <SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-1.55%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>YTD Cumulative Distribution Rate <SUP
STYLE="font-size:85%; vertical-align:top">(5)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right">2.23%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE></DIV> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">Average Annual Total Return on NAV is the annual compound return for the five-year period. It reflects the
change in the fund&#146;s NAV and reinvestment of all distributions. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">Current Fiscal YTD Annualized Distribution Rate is the current distribution rate (excluding the supplemental
gain) annualized as a percentage of the fund&#146;s NAV at month end. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD Cumulative Total Return on NAV is the percentage change in the fund&#146;s NAV from the first day of the
year to this month end, including distributions paid and assuming reinvestment of those distributions. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the year to this
month end as a percentage of the fund&#146;s NAV at month end. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">Under the terms of its managed
distribution plan, the fund will seek to maintain a consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. You should not draw any conclusions about the
fund&#146;s investment performance </P>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">
from the amount of this distribution or from the terms of the fund&#146;s managed distribution plan. Shareholders should note, however, that if the fund&#146;s aggregate net investment income and
net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the fund&#146;s assets and will constitute a return of the shareholder&#146;s capital. </P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your
distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the fund is paid back to you. A return of capital distribution does not necessarily reflect the fund&#146;s
investment performance and should not be confused with &#147;yield&#148; or &#147;income.&#148; </P> <P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The amounts and
sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions will depend on the fund&#146;s investment experience during the remainder
of its fiscal year and may be subject to changes based on tax regulations. The fund or your broker will send you a Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for the calendar year that will tell you how to report these distributions for
federal income tax purposes. </P> <P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">For more information on
<FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>Virtus Global Dividend&nbsp;&amp; Income Fund Inc.</U></FONT><FONT STYLE="font-family:Times New Roman">, contact shareholder services at (866) 270-7788, by email at </FONT><FONT
STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>closedendfunds@virtus.com</U></FONT><FONT STYLE="font-family:Times New Roman">, or through the </FONT><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>closed end fund</U></FONT><FONT
STYLE="font-family:Times New Roman"> section on the web at </FONT><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>www.virtus.com</U></FONT><FONT STYLE="font-family:Times New Roman">. </FONT></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; margin-right:7%; font-size:11pt; font-family:Times New Roman" ALIGN="right">Cusip: 92835W107 </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"># # # </P>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g690452g0731101615580.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:52pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>SECTION 19(a) NOTICE </B></P>
<P STYLE="margin-top:30pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman"><B>Hartford, CT, March 18, 2019 </B>-- <FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>Virtus Global
Dividend&nbsp;&amp; Income Fund Inc.</U></FONT><FONT STYLE="font-family:Times New Roman"> (NYSE: ZTR) declared a distribution of $0.113 per share to shareholders of record at the close of business on March 11, 2019 (ex-date March 8, 2019).
</FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The following table sets forth the estimated amounts of the most current distribution and the cumulative
distributions paid this fiscal year to date from the following sources. All amounts are expressed based on U.S. generally accepted accounting principles which may differ from federal income tax regulations. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt">


<TR>

<TD WIDTH="62%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><B>Distribution Estimates</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B>February 2019 (MTD)</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Year-to-date&nbsp;(YTD)&nbsp;
</FONT></FONT></B><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">(Sources)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Per&nbsp;Share</I></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Amount</I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Percentage</I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>of Current</I></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Distribution</I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Per&nbsp;Share</I></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Amount</I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Percentage</I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>of Current</I></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Distribution</I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net
Investment Income</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">$0.015</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">13.5%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">$0.042</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">12.3%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
Foreign Currency Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
Short-Term Capital Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
Long-Term Capital Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Return of
Capital (or other Capital Source)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.098</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">86.5%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.297</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">87.7%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><B>Total Distribution</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>$0.113</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>100.0%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>$0.339</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>100.0%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD December 1, 2018 to November 30, 2019. </P></TD></TR></TABLE>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt">


<TR>

<TD WIDTH="88%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><B>February
28, 2019</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>Average
Annual Total Return on NAV for the 5-year period <SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">2.63%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>Current
Fiscal YTD Annualized Distribution Rate <SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">13.31%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>YTD
Cumulative Total Return on NAV <SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.23%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>YTD Cumulative Distribution Rate <SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right">3.33%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">Average Annual Total Return on NAV is the annual compound return for the five-year period. It reflects the
change in the fund&#146;s NAV and reinvestment of all distributions. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">Current Fiscal YTD Annualized Distribution Rate is the current distribution rate (excluding the supplemental
gain) annualized as a percentage of the fund&#146;s NAV at month end. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD Cumulative Total Return on NAV is the percentage change in the fund&#146;s NAV from the first day of the
year to this month end, including distributions paid and assuming reinvestment of those distributions. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the year to this
month end as a percentage of the fund&#146;s NAV at month end. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">Under the terms of its managed distribution plan, the fund will seek to maintain a
consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. You should not draw any conclusions about the fund&#146;s investment performance
</P>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">
from the amount of this distribution or from the terms of the fund&#146;s managed distribution plan. Shareholders should note, however, that if the fund&#146;s aggregate net investment income and
net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the fund&#146;s assets and will constitute a return of the shareholder&#146;s capital. </P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your
distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the fund is paid back to you. A return of capital distribution does not necessarily reflect the fund&#146;s
investment performance and should not be confused with &#147;yield&#148; or &#147;income.&#148; </P> <P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The amounts and
sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions will depend on the fund&#146;s investment experience during the remainder
of its fiscal year and may be subject to changes based on tax regulations. The fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. </P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">For more information on <FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>Virtus Global Dividend&nbsp;&amp;
Income Fund Inc.</U></FONT><FONT STYLE="font-family:Times New Roman">, contact shareholder services at (866) 270-7788, by email at </FONT><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>closedendfunds@virtus.com</U></FONT><FONT
STYLE="font-family:Times New Roman">, or through the </FONT><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>closed end fund</U></FONT><FONT STYLE="font-family:Times New Roman"> section on the web at </FONT><FONT
STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>www.virtus.com</U>.</FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; margin-right:7%; font-size:11pt; font-family:Times New Roman" ALIGN="right">Cusip: 92835W107 </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"># # # </P>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g690452g0731101615580.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:52pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>SECTION 19(a) NOTICE </B></P>
<P STYLE="margin-top:30pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman"><B>Hartford, CT, April 18, 2019 </B>-- <FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>Virtus Global
Dividend&nbsp;&amp; Income Fund Inc.</U></FONT><FONT STYLE="font-family:Times New Roman"> (NYSE: ZTR) declared a distribution of $0.113 per share to shareholders of record at the close of business on April 11, 2019 (ex-date April 10, 2019).
</FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The following table sets forth the estimated amounts of the most current distribution and the cumulative
distributions paid this fiscal year to date from the following sources. All amounts are expressed based on U.S. generally accepted accounting principles which may differ from federal income tax regulations. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt">


<TR>

<TD WIDTH="62%"></TD>

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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><B>Distribution Estimates</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" COLSPAN="9" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000"><B>March 2019 (MTD)</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" COLSPAN="9" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Year-to-date&nbsp;(YTD)&nbsp;</FONT></FONT></B><SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP><B></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">(Sources)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="top" COLSPAN="4" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Per&nbsp;Share</I><B></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Amount</I><B></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B></B><I>Percentage<BR>of Current<BR>Distribution</I><B></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="top" COLSPAN="4" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Per&nbsp;Share</I><B></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B></B><I>Amount</I><B></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000"><B></B><I>Percentage<BR>of Current<BR>Distribution</I><B></B></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net
Investment Income</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">$0.046</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">41.1%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">$0.088</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">19.5%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
Foreign Currency Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
Short-Term Capital Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
Long-Term Capital Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Return of
Capital (or other Capital Source)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.067</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">58.9%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.364</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">80.5%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><B>Total Distribution</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>$0.113</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>100.0%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>$0.452</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>100.0%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD December 1, 2018 to November 30, 2019. </P></TD></TR></TABLE>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt">


<TR>

<TD WIDTH="89%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><B>March 29, 2019</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>Average Annual Total Return on NAV for the 5-year period
<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">2.98%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>Current Fiscal YTD Annualized Distribution Rate
<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">13.10%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>YTD Cumulative Total Return on NAV <SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">2.93%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>YTD Cumulative Distribution Rate <SUP
STYLE="font-size:85%; vertical-align:top">(5)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.37%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">Average Annual Total Return on NAV is the annual compound return for the five-year period. It reflects the
change in the fund&#146;s NAV and reinvestment of all distributions. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">Current Fiscal YTD Annualized Distribution Rate is the current distribution rate (excluding the supplemental
gain) annualized as a percentage of the fund&#146;s NAV at month end. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD Cumulative Total Return on NAV is the percentage change in the fund&#146;s NAV from the first day of the
year to this month end, including distributions paid and assuming reinvestment of those distributions. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the year to this
month end as a percentage of the fund&#146;s NAV at month end. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">Under the terms of its managed distribution plan, the fund will seek to maintain a
consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the fund&#146;s aggregate net investment
</P>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">
income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the fund&#146;s assets and will constitute a return of the
shareholder&#146;s capital. You should not draw any conclusions about the fund&#146;s investment performance from the amount of this distribution or from the terms of the fund&#146;s managed distribution plan. </P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your
distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the fund is paid back to you. A return of capital distribution does not necessarily reflect the fund&#146;s
investment performance and should not be confused with &#147;yield&#148; or &#147;income.&#148; </P> <P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The amounts and
sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions will depend on the fund&#146;s investment experience during the remainder
of its fiscal year and may be subject to changes based on tax regulations. The fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. </P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">For more information on <FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>Virtus Global Dividend&nbsp;&amp;
Income Fund Inc.</U></FONT><FONT STYLE="font-family:Times New Roman">, contact shareholder services at (866) 270-7788, by email at </FONT><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>closedendfunds@virtus.com</U></FONT><FONT
STYLE="font-family:Times New Roman">, or through the </FONT><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>closed end fund</U></FONT><FONT STYLE="font-family:Times New Roman"> section on the web at </FONT><FONT
STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>www.virtus.com</U></FONT><FONT STYLE="font-family:Times New Roman">. </FONT></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; margin-right:7%; font-size:11pt; font-family:Times New Roman" ALIGN="right">Cusip: 92835W107 </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"># # # </P>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g690452g0731101615580.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:60pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>SECTION 19(a) NOTICE </B></P>
<P STYLE="margin-top:30pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman"><B>Hartford, CT, May 20, 2019 </B>-- <U><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff">Virtus Global
Dividend&nbsp;&amp; Income Fund Inc.</FONT></U><FONT STYLE="font-family:Times New Roman"> (NYSE: ZTR) declared a distribution of $0.113 per share to shareholders of record at the close of business on May 13, 2019 (ex-date May 10, 2019). </FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The following table sets forth the estimated amounts of the most current distribution and the cumulative distributions paid
this fiscal year to date from the following sources. All amounts are expressed based on U.S. generally accepted accounting principles which may differ from federal income tax regulations. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>

<TD WIDTH="62%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"><B>Distribution Estimates</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B>April 2019 (MTD)</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Year-to-date&nbsp;(YTD)&nbsp;
</FONT></FONT></B><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">(Sources)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Per&nbsp;Share</I></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Amount</I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Percentage</I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>of Current</I></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Distribution</I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="2" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Per&nbsp;Share</I></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Amount</I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Percentage</I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>of Current</I></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><I>Distribution</I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net
Investment Income</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">$0.047</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">41.8%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">$0.135</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">24.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
Foreign Currency Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
Short-Term Capital Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Net Realized
Long-Term Capital Gains</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Return of
Capital (or other Capital Source)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.066</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">58.2%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">0.430</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">76.0%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><B>Total Distribution</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>$0.113</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>100.0%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>$0.565</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>100.0%</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD December 1, 2018 to November 30, 2019. </P></TD></TR></TABLE>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt">


<TR>

<TD WIDTH="90%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><B>April 30, 2019</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>Average Annual Total Return on NAV for the 5-year period
<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.29%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>Current Fiscal YTD Annualized Distribution Rate
<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">13.01%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>YTD Cumulative Total Return on NAV <SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">4.75%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman"><I>YTD Cumulative Distribution Rate <SUP STYLE="font-size:85%; vertical-align:top">(5)</SUP></I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">5.42%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">Average Annual Total Return on NAV is the annual compound return for the five-year period. It reflects the
change in the Fund&#146;s NAV and reinvestment of all distributions. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">Current Fiscal YTD Annualized Distribution Rate is the current distribution rate (excluding the supplemental
gain) annualized as a percentage of the Fund&#146;s NAV at month end. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD Cumulative Total Return on NAV is the percentage change in the Fund&#146;s NAV from the first day of the
year to this month end, including distributions paid and assuming reinvestment of those distributions. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the year to this
month end as a percentage of the Fund&#146;s NAV at month end. </P></TD>
<TD WIDTH="4%">&nbsp;</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a
consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund&#146;s aggregate net investment
</P>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">
income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund&#146;s assets and will constitute a return of the
shareholder&#146;s capital. You should not draw any conclusions about the Fund&#146;s investment performance from the amount of this distribution or from the terms of the Fund&#146;s Managed Distribution Plan. </P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your
distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund&#146;s
investment performance and should not be confused with &#147;yield&#148; or &#147;income.&#148; </P> <P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">The amounts and
sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions will depend on the Fund&#146;s investment experience during the remainder
of its fiscal year and may be subject to changes based on tax regulations. The Fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. </P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; text-indent:4%; line-height:15.0pt; font-size:11pt; font-family:Times New Roman">For more information on <U><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff">Virtus Global Dividend&nbsp;&amp;
Income Fund Inc.</FONT></U><FONT STYLE="font-family:Times New Roman">, contact shareholder services at (866) 270-7788, by email at <U><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff">closedendfunds@virtus.com</FONT></U><FONT
STYLE="font-family:Times New Roman">, or through the <U><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff">closed end fund</FONT></U><FONT STYLE="font-family:Times New Roman"> section on the web at </FONT><FONT
STYLE="font-family:Times New Roman" COLOR="#0000ff"><U>www.virtus.com</U></FONT><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff">.</FONT><FONT STYLE="font-family:Times New Roman"> </FONT></FONT></FONT></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; margin-right:7%; font-size:11pt; font-family:Times New Roman" ALIGN="right">Cusip: 92835W107 </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"># # # </P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
