Instuitional Investor - One William Street Capital Management, L.p.

Filing Period:
No. Security Ticker Shares Value % Port
1.
Ishares Tr - IBOXX HI YD ETFPUTPUT
1,500,000 $119,955,000 49.47%
2.
Ishares Tr - IBOXX HI YD ETFCALLCALL
900,000 $71,973,000 29.68%
3.
Invesco Exch Traded Fd Tr Ii - SR LN ETF
770,977 $15,704,801 6.48%
4. TRTX 1,070,000 $8,955,900 3.69%
5. IEF 27,500 $8,262,375 3.41%