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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ballyrock Ltd</name>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2037-07-25</maturityDt>
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      <invstOrSec>
        <name>BELO CORP</name>
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        <curCd>USD</curCd>
        <valUSD>3344227.25000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
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      <invstOrSec>
        <name>Benefit Street Partners CLO Ltd</name>
        <lei>5493008E17UEFI73RC63</lei>
        <title>Benefit Street Partners CLO XIV Ltd</title>
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          <isin value="US08181NAE31"/>
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        <balance>2750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2712061.00000000</valUSD>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2037-10-20</maturityDt>
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      <invstOrSec>
        <name>Benefit Street Partners CLO Ltd</name>
        <lei>N/A</lei>
        <title>Benefit Street Partners Clo XXXVII Ltd</title>
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          <isin value="US08182VAC81"/>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-25</maturityDt>
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          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Benefit Street Partners CLO Ltd</name>
        <lei>254900U0SNDVHNBLRW07</lei>
        <title>Benefit Street Partners Clo XXXV Ltd</title>
        <cusip>08183CAA3</cusip>
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          <isin value="US08183CAA36"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>736461.00000000</valUSD>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2037-04-25</maturityDt>
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          <annualizedRt>9.77000000</annualizedRt>
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      <invstOrSec>
        <name>Benefit Street Partners CLO Ltd</name>
        <lei>N/A</lei>
        <title>Benefit Street Partners Clo XLV Ltd</title>
        <cusip>08183KAA5</cusip>
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          <isin value="US08183KAA51"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>974213.00000000</valUSD>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-20</maturityDt>
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          <annualizedRt>8.37000000</annualizedRt>
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      <invstOrSec>
        <name>Benefit Street Partners CLO Ltd</name>
        <lei>2549002IHKGRTABCLD52</lei>
        <title>Benefit Street Partners CLO XXI Ltd</title>
        <cusip>08186TAG0</cusip>
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          <isin value="US08186TAG04"/>
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        <balance>260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>256413.82000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.62000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Blackfin Pipeline LLC</name>
        <lei>254900F4BUS186SK8A51</lei>
        <title>Blackfin Pipeline LLC Term Loan B</title>
        <cusip>09231PAB2</cusip>
        <identifiers>
          <isin value="US09231PAB22"/>
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        <balance>1496250.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1502324.78000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-29</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.67000000</annualizedRt>
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      <invstOrSec>
        <name>BLUE RACER MID LLC/FINAN</name>
        <lei>N/A</lei>
        <title>Blue Racer Midstream LLC / Blue Racer Finance Corp</title>
        <cusip>095796AJ7</cusip>
        <identifiers>
          <isin value="US095796AJ72"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1549296.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Blueberry Park CLO</name>
        <lei>N/A</lei>
        <title>Blueberry Park CLO Ltd</title>
        <cusip>09609VAC1</cusip>
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          <isin value="US09609VAC19"/>
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        <balance>1840000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>949285.44000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-20</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Blueberry Park CLO</name>
        <lei>N/A</lei>
        <title>Blueberry Park CLO Ltd</title>
        <cusip>09609VAE7</cusip>
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        <balance>1840000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99475.92000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.13000000</annualizedRt>
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      <invstOrSec>
        <name>BOMBARDIER INC</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>Bombardier Inc</title>
        <cusip>097751CA7</cusip>
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          <isin value="US097751CA78"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
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      <invstOrSec>
        <name>BOMBARDIER INC</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>Bombardier Inc</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Brookhaven Park CLO Ltd</name>
        <lei>N/A</lei>
        <title>Brookhaven Park CLO LTD</title>
        <cusip>113525AA7</cusip>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Brown Group Holding LLC</name>
        <lei>25490094PF4HHK9QS109</lei>
        <title>Brown Group Holding LLC 2022 Incremental Term Loan B2</title>
        <cusip>11565HAD8</cusip>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
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      <invstOrSec>
        <name>BUILDERS FIRSTSOURCE INC</name>
        <lei>549300W0SKP6L3H7DP63</lei>
        <title>Builders FirstSource Inc</title>
        <cusip>12008RAT4</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CCO HLDGS LLC/CAP CORP</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC / CCO Holdings Capital Corp</title>
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        <balance>1200000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.38000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CIFC Funding Ltd</name>
        <lei>2549005S1LQJ8MBPXW05</lei>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>3</fairValLevel>
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        <name>CIFC Funding Ltd</name>
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        <title>CIFC Funding 2021-V Ltd</title>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>CIFC Funding Ltd</name>
        <lei>54930089HD7KU5NUS092</lei>
        <title>CIFC Funding 2021-VII Ltd</title>
        <cusip>12567KAE5</cusip>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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        <name>CIFC Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>CIFC Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>CIFC Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>CIFC Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>CNT Holdings I Corp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CQP HOLDCO LP/BIP-V CHIN</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Captree Park CLO Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Databricks Inc</name>
        <lei>984500FEDAC7FBD96273</lei>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Databricks Inc</name>
        <lei>984500FEDAC7FBD96273</lei>
        <title>Databricks Inc 2025 1st Amendment Delayed Draw Term Loan</title>
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          <isin value="US23803RAF82"/>
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        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
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        <assetCat>LON</assetCat>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-05</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>DELL INT LLC / EMC CORP</name>
        <lei>254900ZARLSVK41DKO78</lei>
        <title>Dell International LLC / EMC Corp</title>
        <cusip>24703TAF3</cusip>
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          <isin value="US24703TAF30"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1528163.46000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Delta TopCo Inc</name>
        <lei>N/A</lei>
        <title>Delta TopCo Inc 2025 Term Loan B</title>
        <cusip>24780DAJ6</cusip>
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          <isin value="US24780DAJ63"/>
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        <balance>2000000.21000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1931560.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Diameter Capital CLO</name>
        <lei>N/A</lei>
        <title>Diameter Capital CLO 9 Ltd</title>
        <cusip>25254BAA3</cusip>
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          <isin value="US25254BAA35"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>186623.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Diameter Capital CLO</name>
        <lei>254900L1QJX98W5ORK78</lei>
        <title>Diameter Capital Clo 3 Ltd</title>
        <cusip>25255KAC8</cusip>
        <identifiers>
          <isin value="US25255KAC80"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>168690.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2122-04-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>DIEBOLD NIXDORF INC</name>
        <lei>549300XZK6EWDBAZSY16</lei>
        <title>Diebold Nixdorf Inc</title>
        <cusip>253651AK9</cusip>
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          <isin value="US253651AK94"/>
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        <balance>2250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2339151.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Dryden Senior Loan Fund</name>
        <lei>N/A</lei>
        <title>Dryden 98 CLO Ltd</title>
        <cusip>26248CAC4</cusip>
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          <isin value="US26248CAC47"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>311048.10000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>20.89000000</annualizedRt>
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      <invstOrSec>
        <name>Dryden Senior Loan Fund</name>
        <lei>N/A</lei>
        <title>Dryden 115 CLO Ltd</title>
        <cusip>26248HAA7</cusip>
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          <isin value="US26248HAA77"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>JE</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2037-04-18</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Dryden Senior Loan Fund</name>
        <lei>N/A</lei>
        <title>Dryden 104 CLO Ltd</title>
        <cusip>26253DAE0</cusip>
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          <isin value="US26253DAE04"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-20</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>DCP MIDSTREAM OPERATING</name>
        <lei>549300Y6CTBSE0QIPL28</lei>
        <title>DCP Midstream Operating LP</title>
        <cusip>26439XAC7</cusip>
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          <isin value="US26439XAC74"/>
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        <balance>3330000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>ECI Macola Max Holding LLC</name>
        <lei>549300MZ2LKM75L5EI42</lei>
        <title>ECI Macola Max Holding LLC 2025 Term Loan</title>
        <cusip>26825UAN1</cusip>
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          <isin value="US26825UAN19"/>
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        <balance>1990000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>EG AMERICA LLC</name>
        <lei>549300BY1CRYVPEG9R57</lei>
        <title>EG America LLC 2026 Term Loan B</title>
        <cusip>28228QAB5</cusip>
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          <isin value="US28228QAB59"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Elmwood CLO VIII Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO VIII Ltd</title>
        <cusip>290021AL8</cusip>
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          <isin value="US290021AL80"/>
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        <balance>500000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-20</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Elmwood CLO IV Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO IV Ltd</title>
        <cusip>29002KAE2</cusip>
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        <balance>1369000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.82000000</annualizedRt>
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      <invstOrSec>
        <name>Elmwood CLO XI Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO XI Ltd</title>
        <cusip>29002MAC2</cusip>
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        <balance>1280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>732623.36000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-20</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>18.99000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Elmwood CLO 28 Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO 28 Ltd</title>
        <cusip>29003PAA8</cusip>
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          <isin value="US29003PAA84"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>490893.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
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          <couponKind>Floating</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Elmwood CLO 26 Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO 26 Ltd</title>
        <cusip>29004DAC0</cusip>
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          <isin value="US29004DAC02"/>
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        <balance>540541.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>268861.31000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-18</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Elmwood CLO 32 Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO 32 Ltd</title>
        <cusip>29004EAC8</cusip>
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          <isin value="US29004EAC84"/>
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        <balance>1770000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>972848.64000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-18</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Elmwood CLO 35 Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO 35 Ltd</title>
        <cusip>29004RAC9</cusip>
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          <isin value="US29004RAC97"/>
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        <balance>1020000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>670787.70000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-18</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Elmwood CLO 44 Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO 44 Ltd</title>
        <cusip>29004XAA0</cusip>
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          <isin value="US29004XAA00"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>690321.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.37000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Elmwood CLO 46 Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO 46 Ltd</title>
        <cusip>29005HAA4</cusip>
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          <isin value="US29005HAA41"/>
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        <balance>870000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>857527.68000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.68000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ENSEMBLE RCM LLC</name>
        <lei>254900PDXJVVI20WAQ37</lei>
        <title>Ensemble RCM LLC 2026 Term Loan B</title>
        <cusip>29359BAH4</cusip>
        <identifiers>
          <isin value="US29359BAH42"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3455515.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.66000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fertitta Entertainment LLC</name>
        <lei>984500A0805D8V551D35</lei>
        <title>Fertitta Entertainment LLC 2022 Term Loan B</title>
        <cusip>31556PAB3</cusip>
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          <isin value="US31556PAB31"/>
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        <balance>2976744.18000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2914619.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-27</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FIRST QUANTUM MINERALS L</name>
        <lei>549300I7UVBGWRYMYZ18</lei>
        <title>First Quantum Minerals Ltd</title>
        <cusip>335934AX3</cusip>
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          <isin value="US335934AX36"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2035824.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Flatiron CLO Ltd</name>
        <lei>N/A</lei>
        <title>Flatiron CLO 21 Ltd</title>
        <cusip>33883TAE9</cusip>
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          <isin value="US33883TAE91"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>231665.25000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-19</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>FORD MOTOR CREDIT CO LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co LLC</title>
        <cusip>345397C35</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-04</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FORD MOTOR CREDIT CO LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co LLC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FORD MOTOR CREDIT CO LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co LLC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FOX CORP</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>Fox Corp</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FREEPORT LNG INVESTMENTS LLLP</name>
        <lei>549300LR5YVRZH4YPQ33</lei>
        <title>Freeport LNG Investments LLLP 2026 Term Loan B</title>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>GGAM FINANCE LTD</name>
        <lei>254900X2QXEN0FVXRF65</lei>
        <title>GGAM Finance Ltd</title>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ALLY FINANCIAL INC</name>
        <lei>549300JBN1OSM8YNAI90</lei>
        <title>Ally Financial Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-01</maturityDt>
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      <invstOrSec>
        <name>GFL Environmental Inc</name>
        <lei>254900PGDQWC19PRP053</lei>
        <title>GFL Environmental Inc 2025 Term Loan B</title>
        <cusip>36257SAB8</cusip>
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        <balance>3294256.75000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3292214.31000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-03</maturityDt>
          <couponKind>Floating</couponKind>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>Genmab AS</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>GoldenTree Loan Management US CLO1, LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>Gray Television, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RR Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ILIAD HOLDING SAS</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>iSolved Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KKR Financial CLO Ltd</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>KKR Financial CLO Ltd</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>KKR Financial CLO Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>KKR Financial CLO Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Kaman Corporation</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ADVANCION SCIENCES INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kodiak Building Partners Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KODIAK GAS SERVICES LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LCM Ltd Partnership</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Darktrace PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LEVEL 3 FINANCING INC</name>
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        <title>Level 3 Financing Inc</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LIVE NATION ENTERTAINMEN</name>
        <lei>5493007B9BM9ZXJINO78</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MGM RESORTS INTL</name>
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        <title>MGM Resorts International</title>
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          <isin value="US552953CJ87"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Madison IAQ LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Madison Park Funding Ltd</name>
        <lei>N/A</lei>
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          <isin value="US55790AAE55"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-21</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Atrium CDO Corp</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Madison Park Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Madison Park Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Madison Park Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Madison Park Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Madison Park Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Madison Park Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Madison Park Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Madison Park Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Madison Park Funding Ltd</name>
        <lei>254900YXXBTCF4NGD347</lei>
        <title>Madison Park Funding XXII Ltd</title>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>Magnetite CLO Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Magnetite CLO Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>ELECTRONIC ARTS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>OPEN TEXT CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Pasadena Performance Products, LLC</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Paysafe Holdings (US) Corp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pinnacle Buyer LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PINNACLE BUYER LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PRAIRIE ECI ACQUIROR LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Precision Medicine Group LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Project Ruby Ultimate Parent Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PROOFPOINT INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>QXO BUILDING PRODUCTS</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>RR Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>RR Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>RR Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Rithum Holdings Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>RR Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>SGH2 LLC</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Spa Holdings 3 Oy</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LEIDOS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Serenity-Peace Park CLO LTD</name>
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        <fairValLevel>3</fairValLevel>
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        <name>SHIFT4 PAYMENTS LLC/FIN</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Signal Peak CLO, LLC</name>
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        <fairValLevel>3</fairValLevel>
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        <name>SIX FLAGS/CAN WON/MILLEN</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sixth Street CLO XVI, LTD.</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Sixth Street CLO XVI, LTD.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Sixth Street CLO XVI, LTD.</name>
        <lei>N/A</lei>
        <title>Sixth Street CLO 31 Ltd</title>
        <cusip>83014AAA5</cusip>
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          <isin value="US83014AAA51"/>
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        <curCd>USD</curCd>
        <valUSD>973263.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>South Field LLC</name>
        <lei>549300M3RBW5ZIH20760</lei>
        <title>South Field LLC 2025 1st Lien Term Loan C</title>
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        <curCd>USD</curCd>
        <valUSD>191151.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>South Field LLC</name>
        <lei>549300M3RBW5ZIH20760</lei>
        <title>South Field LLC 2025 1st Lien Term Loan B</title>
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          <isin value="US83783XAG16"/>
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        <balance>3054771.46000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3056695.97000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-29</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>STANDARD BUILDING SOLUTI</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Building Solutions Inc</title>
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          <isin value="US853191AA25"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3000819.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>STATION CASINOS LLC</name>
        <lei>5493004E7Q60TX54WL62</lei>
        <title>Station Casinos LLC</title>
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          <isin value="US857691AJ89"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.63000000</annualizedRt>
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      <invstOrSec>
        <name>SUMMIT MIDSTREAM HOLDING</name>
        <lei>N/A</lei>
        <title>Summit Midstream Holdings LLC</title>
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          <isin value="US86614JAA34"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.63000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SUNOCO LP</name>
        <lei>54930001NJU8E40NQ561</lei>
        <title>Sunoco LP</title>
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          <isin value="US86765KAC36"/>
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        <balance>3125000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SUNOCO LP</name>
        <lei>54930001NJU8E40NQ561</lei>
        <title>Sunoco LP</title>
        <cusip>86765KAL3</cusip>
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          <isin value="US86765KAL35"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2031136.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.63000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>TALLGRASS NRG PRTNR/FIN</name>
        <lei>N/A</lei>
        <title>Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp</title>
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          <isin value="US87470LAL53"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Tenneco Inc</name>
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        <title>Tenneco Inc 2022 Term Loan A</title>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tenneco Inc</name>
        <lei>549300U0EXXFAQFAD785</lei>
        <title>Tenneco Inc 2022 Term Loan B</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>TransDigm Inc</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm Inc 2023 Term Loan J</title>
        <cusip>89364MCA0</cusip>
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          <isin value="US89364MCA09"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-28</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>TransMontaigne Operating Company LP</name>
        <lei>549300V4T155OZCUJ734</lei>
        <title>TransMontaigne Operating Company LP Term Loan B</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TRANSMONTAIGNE PARTNERS</name>
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          <isin value="US89377AAA34"/>
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        <fairValLevel>2</fairValLevel>
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        <name>TRANSOCEAN INTERNTNL LTD</name>
        <lei>DOL4HJ22ADYSIWES4H94</lei>
        <title>Transocean International Ltd</title>
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          <isin value="US893814AA10"/>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>TRANSOCEAN INTERNTNL LTD</name>
        <lei>DOL4HJ22ADYSIWES4H94</lei>
        <title>Transocean International Ltd</title>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Traverse Midstream Partners LLC</name>
        <lei>549300DHTM8B2X5QMJ22</lei>
        <title>Traverse Midstream Partners LLC 2017 Term Loan</title>
        <cusip>89435TAB0</cusip>
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        <balance>2747164.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2744883.85000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-16</maturityDt>
          <couponKind>Floating</couponKind>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Wash Multifamily Parent Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wehle Park CLO Ltd.</name>
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        <fairValLevel>3</fairValLevel>
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        <name>White Cap Buyer LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WILLIAMS COMPANIES INC</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Wilsonart LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ZF NA CAPITAL</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>QUALITYTECH LP</name>
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        <fairValLevel>3</fairValLevel>
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        <name>DATABRICKS INC</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Hamilton Projects Acquiror, LLC</name>
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        <name>Motogp Sports Entertainment Group, S.L.</name>
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        <name>Athena Holdco SAS</name>
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        <name>ARGENT BIDCO SAS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ALKERMES INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SIACI SAINT HONORE</name>
        <lei>N/A</lei>
        <title>Siaci Saint Honore 2026 EUR Term Loan B</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX284432"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86606300"/>
        <valUSD>2281312.10000000</valUSD>
        <pctVal>0.712284626628</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-26</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.38000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INDECK NILES LLC</name>
        <lei>5493003HISDK37Z6Q008</lei>
        <title>INDECK NILES LLC TERM LOAN B</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX285160"/>
        </identifiers>
        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3995000.00000000</valUSD>
        <pctVal>1.247342300678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.42000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRIMO BRANDS CORPORATION</name>
        <lei>254900J0WS4AXV2LAX55</lei>
        <title>PRIMO BRANDS CORPORATION 2026 TERM LOAN B</title>
        <cusip>89678QAF3</cusip>
        <identifiers>
          <isin value="US89678QAF37"/>
        </identifiers>
        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3503815.00000000</valUSD>
        <pctVal>1.093981642866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bausch &amp; Lomb Corporation</name>
        <lei>549300NY6OZM39SO6475</lei>
        <title>Bausch &amp; Lomb Corporation 2025 Repriced Term Loan</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XAC0787FAL67"/>
        </identifiers>
        <balance>1955000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1957443.75000000</valUSD>
        <pctVal>0.611164553335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.42000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bausch Health Companies Inc</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Companies Inc 2025 Term Loan B</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XAC6903HAB06"/>
        </identifiers>
        <balance>1989987.44000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1917571.80000000</valUSD>
        <pctVal>0.598715499556</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.92000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Clarios Global LP</name>
        <lei>549300474L1ZLXZY2P98</lei>
        <title>Clarios Global LP 2024 USD Term Loan B</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XAC8000CAM55"/>
        </identifiers>
        <balance>2770400.40000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2759152.57000000</valUSD>
        <pctVal>0.861478777117</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.17000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OHA Credit Partners Ltd</name>
        <lei>549300OYGEU6QQMCEG78</lei>
        <title>OHA Credit Partners XI Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="USG67217AC63"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>171688.40000000</valUSD>
        <pctVal>0.053605557911</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-20</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Virgin Media Bristol LLC</name>
        <lei>213800IQ982XX69LE276</lei>
        <title>Virgin Media Bristol LLC 2023 USD Term Loan Y</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XAG9368PBH64"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2728140.00000000</valUSD>
        <pctVal>0.851795850856</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Peer Holding III BV</name>
        <lei>7245002S0K5Q59JCVQ03</lei>
        <title>Peer Holding III BV 2025 USD Term Loan B4B</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XAN6872NAM82"/>
        </identifiers>
        <balance>4912405.05000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4900124.04000000</valUSD>
        <pctVal>1.529945430203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Ares Dynamic Credit Allocation Fund, Inc.</ncom:nameOfApplicant>
      <ncom:signature>Paul Cho</ncom:signature>
      <ncom:signerName>Paul Cho</ncom:signerName>
      <ncom:title>Chief Accounting Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
