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        </identifiers>
        <balance>5340</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39543</valUSD>
        <pctVal>0.03256</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Oxford Lane Capital Corp.</name>
        <lei>N/A</lei>
        <title>Common Equity</title>
        <cusip>691543847</cusip>
        <identifiers>
          <isin value="US6915438476"/>
        </identifiers>
        <balance>91470</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>894577</valUSD>
        <pctVal>0.736609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SI Tickets, Inc.</name>
        <lei>N/A</lei>
        <title>Common Equity</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="SITIX"/>
        </identifiers>
        <balance>120000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>344400</valUSD>
        <pctVal>0.283584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Senior Credit Corp 2022 LLC</name>
        <lei>N/A</lei>
        <title>Common Equity</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="i40LLCEQUITY"/>
        </identifiers>
        <balance>4548434</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4909489</valUSD>
        <pctVal>4.042555</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dawson Rated Fund 5-R1 LP</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class C Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="96524KAC4"/>
        </identifiers>
        <balance>379010</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>380554</valUSD>
        <pctVal>0.313354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>14.219</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>Great Ajax Operating Partnership L.P.</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>38982GAA4</cusip>
        <identifiers>
          <isin value="US38982GAA40"/>
        </identifiers>
        <balance>488000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>487505</valUSD>
        <pctVal>0.401419</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.875</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>North Haven Private Income Fund LLC</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="65539*AD5"/>
        </identifiers>
        <balance>1950000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2022150</valUSD>
        <pctVal>1.665072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.88</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>New Mountain Guardian IV Rated Feeder I, Ltd.</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class B Note</title>
        <cusip>647558AE5</cusip>
        <identifiers>
          <isin value="US647558AE57"/>
        </identifiers>
        <balance>421000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>436081</valUSD>
        <pctVal>0.359076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.87163</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>California Municipal Finance Authority</name>
        <lei>N/A</lei>
        <title>Environmental Improvement Revenue Bonds (Aymium Williams Project), Series 2022A</title>
        <cusip>130488AK5</cusip>
        <identifiers>
          <isin value="US130488AK51"/>
        </identifiers>
        <balance>65122</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62718</valUSD>
        <pctVal>0.051643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.25</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>Braemar Hotels &amp; Resorts Inc.</name>
        <lei>N/A</lei>
        <title>Convertible Senior Unsecured Note</title>
        <cusip>10482BAB7</cusip>
        <identifiers>
          <isin value="US10482BAB71"/>
        </identifiers>
        <balance>220000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>218207</valUSD>
        <pctVal>0.179675</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.5</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>Monroe Capital Income Plus Corporation</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="61035#AA5"/>
        </identifiers>
        <balance>1670000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1768530</valUSD>
        <pctVal>1.456237</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.42</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>California Municipal Finance Authority</name>
        <lei>N/A</lei>
        <title>Environmental Improvement Revenue Bonds (Aymium Williams Project), Series 2022A</title>
        <cusip>130488AJ8</cusip>
        <identifiers>
          <isin value="US130488AJ88"/>
        </identifiers>
        <balance>846590</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>815340</valUSD>
        <pctVal>0.671364</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.25</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>CION Investment Corporation</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="17259UA@4"/>
        </identifiers>
        <balance>5320000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5370540</valUSD>
        <pctVal>4.422193</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.40253</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>Monroe Capital Private Credit Fund 559 LP</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="61035@AA7"/>
        </identifiers>
        <balance>1750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1744792</valUSD>
        <pctVal>1.436691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.625</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>Blue Owl Technology Income Corporation</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="09581*AB4"/>
        </identifiers>
        <balance>3450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3477600</valUSD>
        <pctVal>2.863514</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.42113</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>Guggenheim Investments Private Debt Fund IV Rated Note Feeder, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class C Note</title>
        <cusip>40190AAU7</cusip>
        <identifiers>
          <isin value="US40190AAU79"/>
        </identifiers>
        <balance>1792535.91</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1791998</valUSD>
        <pctVal>1.475561</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.33833</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>Dawson Rated Fund 6-R3 LP</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class C Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="23942MAD6"/>
        </identifiers>
        <balance>208996</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>212507</valUSD>
        <pctVal>0.174981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.515</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>Dawson Rated Fund 6-R3 LP</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class B Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="23942MAC8"/>
        </identifiers>
        <balance>596225</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>603738</valUSD>
        <pctVal>0.497128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.515</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>California Municipal Finance Authority</name>
        <lei>N/A</lei>
        <title>Environmental Improvement Revenue Bonds (Aymium Williams Project), Series 2022A</title>
        <cusip>130488AH2</cusip>
        <identifiers>
          <isin value="US130488AH23"/>
        </identifiers>
        <balance>180180</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>173529</valUSD>
        <pctVal>0.142886</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.25</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>California Municipal Finance Authority</name>
        <lei>N/A</lei>
        <title>Environmental Improvement Revenue Bonds (Aymium Williams Project), Series 2022A</title>
        <cusip>130488AF6</cusip>
        <identifiers>
          <isin value="US130488AF66"/>
        </identifiers>
        <balance>367568</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>354000</valUSD>
        <pctVal>0.291489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>N/A</lei>
        <title>Environmental Improvement Revenue Bonds (Aymium Williams Project), Series 2022A</title>
        <cusip>130488AE9</cusip>
        <identifiers>
          <isin value="US130488AE91"/>
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        <balance>270270</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>260294</valUSD>
        <pctVal>0.21433</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco CLO Equity Fund 5, L.P.</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="46152#AA3"/>
        </identifiers>
        <balance>3786720</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3682963</valUSD>
        <pctVal>3.032613</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Visio - Beach Point Mortgage Trust, LLC</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Loan</title>
        <cusip>92842BAA2</cusip>
        <identifiers>
          <isin value="US92842BAA26"/>
        </identifiers>
        <balance>3363000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3416808</valUSD>
        <pctVal>2.813457</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Metropolitan Levered Partners Fund VIII LP</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="METROVIII2"/>
        </identifiers>
        <balance>1322524</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1328211</valUSD>
        <pctVal>1.093671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.69961</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>Velocity Commercial Capital, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Note</title>
        <cusip>92259RAC9</cusip>
        <identifiers>
          <isin value="US92259RAC97"/>
        </identifiers>
        <balance>485000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>486805</valUSD>
        <pctVal>0.400843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.875</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>Ready Term Holdings, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="75575@AA3"/>
        </identifiers>
        <balance>1150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1087843</valUSD>
        <pctVal>0.895748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-12</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.16364</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>MGG Offshore Funding IV LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="55428*AA6"/>
        </identifiers>
        <balance>3375000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3273750</valUSD>
        <pctVal>2.69566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.31404</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>MGG Onshore Funding IV LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="55427*AA7"/>
        </identifiers>
        <balance>3375000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3277125</valUSD>
        <pctVal>2.698439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-04</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.31017</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>Brightwood Capital Offshore Fund V-U RN, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class D Loan</title>
        <cusip>10950DAG5</cusip>
        <identifiers>
          <isin value="US10950DAG51"/>
        </identifiers>
        <balance>2158699</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2233426</valUSD>
        <pctVal>1.83904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>13.49038</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brightwood Capital Offshore Fund V-U RN, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class C Loan</title>
        <cusip>10950DAE0</cusip>
        <identifiers>
          <isin value="US10950DAE04"/>
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        <balance>1150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1155351</valUSD>
        <pctVal>0.951335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.33833</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brightwood Capital Offshore Fund V-U RN, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class B Loan</title>
        <cusip>10950DAC4</cusip>
        <identifiers>
          <isin value="US10950DAC48"/>
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        <balance>940000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>953969</valUSD>
        <pctVal>0.785514</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.09038</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BSD Capital Inc.</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>05603CAA1</cusip>
        <identifiers>
          <isin value="US05603CAA18"/>
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        <balance>803000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>743177</valUSD>
        <pctVal>0.611944</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.31166</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Broadmark Realty Capital Inc.</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>11135BAA8</cusip>
        <identifiers>
          <isin value="US11135BAA89"/>
        </identifiers>
        <balance>508000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>493549</valUSD>
        <pctVal>0.406396</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ready Capital Corporation</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>75574UAB7</cusip>
        <identifiers>
          <isin value="US75574UAB70"/>
        </identifiers>
        <balance>406000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>314775</valUSD>
        <pctVal>0.259191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Mountain Guardian IV Rated Feeder III Ltd.</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class B Note</title>
        <cusip>647907AG9</cusip>
        <identifiers>
          <isin value="US647907AG95"/>
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        <balance>970000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>992483</valUSD>
        <pctVal>0.817227</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.42299</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Mountain Guardian IV Rated Feeder III Ltd.</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class C Note</title>
        <cusip>647907AJ3</cusip>
        <identifiers>
          <isin value="US647907AJ35"/>
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        <balance>1582000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1576563</valUSD>
        <pctVal>1.298168</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.82299</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>Vista Credit Partners Fund IV-B, L.P.</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class B-2 Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="92841UAE3"/>
        </identifiers>
        <balance>299000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>298992</valUSD>
        <pctVal>0.246195</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.95234</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>New Mountain Guardian IV Rated Feeder III Ltd.</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class D Note</title>
        <cusip>647907AL8</cusip>
        <identifiers>
          <isin value="US647907AL80"/>
        </identifiers>
        <balance>2314000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2269148</valUSD>
        <pctVal>1.868454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.34299</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>Vista Credit Partners Fund IV-B, L.P.</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class B-1 Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="92841UAC7"/>
        </identifiers>
        <balance>2953531</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2953609</valUSD>
        <pctVal>2.432051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.95234</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>Vista Credit Partners Fund IV-B, L.P.</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class A-2 Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="92841UAD5"/>
        </identifiers>
        <balance>902000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>901991</valUSD>
        <pctVal>0.742714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.82734</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>Dawson Rated Fund 6-R2 LP</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class B Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="23942LAC0"/>
        </identifiers>
        <balance>816277.5309</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>849010</valUSD>
        <pctVal>0.699089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.53</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>Ready Capital Corporation</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>75574U838</cusip>
        <identifiers>
          <isin value="US75574U8383"/>
        </identifiers>
        <balance>72898</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1355903</valUSD>
        <pctVal>1.116473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9</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>Dawson Rated Fund 6-R2 LP</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class C Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="23942LAD8"/>
        </identifiers>
        <balance>1636559</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1690238</valUSD>
        <pctVal>1.39177</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.68</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>ALP CFO 2024, L.P.</name>
        <lei>N/A</lei>
        <title>Senior Secured CFO Debt, Class B Note</title>
        <cusip>00165VAC6</cusip>
        <identifiers>
          <isin value="US00165VAC63"/>
        </identifiers>
        <balance>1788000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1825012</valUSD>
        <pctVal>1.502745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.036</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>Glendower Capital Secondaries CFO, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured CFO Debt, Class C Loan</title>
        <cusip>378654AE7</cusip>
        <identifiers>
          <isin value="US378654AE78"/>
        </identifiers>
        <balance>343499</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>354355</valUSD>
        <pctVal>0.291781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>14.5</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>GCM Grosvenor Credit Secondaries Structured Note 2025, LP</name>
        <lei>N/A</lei>
        <title>Senior Secured CFO Debt, Class C Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="36164SAC8"/>
        </identifiers>
        <balance>569100</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>566816</valUSD>
        <pctVal>0.466725</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.99009</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>NB Blueprint 2025 LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured CFO Class B Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="62879VAC3"/>
        </identifiers>
        <balance>1986000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1998069</valUSD>
        <pctVal>1.645243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.738</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>ALP CFO 2025, L.P.</name>
        <lei>N/A</lei>
        <title>Senior Secured CFO Debt, Class M Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="020529AD5M"/>
        </identifiers>
        <balance>1033000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1056196</valUSD>
        <pctVal>0.869689</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>14</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>ALP CFO 2024, L.P.</name>
        <lei>N/A</lei>
        <title>Senior Secured CFO Debt, Class C Note</title>
        <cusip>00165VAE2</cusip>
        <identifiers>
          <isin value="US00165VAE20"/>
        </identifiers>
        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2035013</valUSD>
        <pctVal>1.675663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.881</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>Ares Secondaries PBN Finance CO IV LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured CFO Debt, Class C Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="04010*AC4"/>
        </identifiers>
        <balance>342452.71</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>340854</valUSD>
        <pctVal>0.280664</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.48525</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>CVC Structured Solutions 2, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured CFO Debt, Class C Loan</title>
        <cusip>12690KAC9</cusip>
        <identifiers>
          <isin value="US12690KAC99"/>
        </identifiers>
        <balance>274832</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>275469</valUSD>
        <pctVal>0.226825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-03</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.49</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>MOPAC Issuer, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured CFO Debt, Class C Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="55433@AD1"/>
        </identifiers>
        <balance>2430428</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2270620</valUSD>
        <pctVal>1.869666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.81</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>ALP CFO 2025, L.P.</name>
        <lei>N/A</lei>
        <title>Senior Secured CFO Debt, Class C Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="020529AC7"/>
        </identifiers>
        <balance>917000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>916465</valUSD>
        <pctVal>0.754632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.244</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>Nexus Apex Holdings, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan, Tranche B-2</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="ApexDDTLB2"/>
        </identifiers>
        <balance>1450211</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1627862</valUSD>
        <pctVal>1.340409</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>14.69961</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Galway Sustainable Capital, Inc.</name>
        <lei>N/A</lei>
        <title>Senior Secured Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="GALWAY"/>
        </identifiers>
        <balance>1684363</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1650676</valUSD>
        <pctVal>1.359194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.5</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>Glendower Capital Secondaries CFO, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured CFO Debt, Class B Loan</title>
        <cusip>378654AC1</cusip>
        <identifiers>
          <isin value="US378654AC13"/>
        </identifiers>
        <balance>750164</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>765895</valUSD>
        <pctVal>0.63065</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.5</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>Ares PBN Finance Co V LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured CFO Debt, Class C Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="04019*AC5"/>
        </identifiers>
        <balance>131510</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>130734</valUSD>
        <pctVal>0.107648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.1632</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>Nexus Apex Holdings, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan, Tranche B-3</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="ApexDDTLB3"/>
        </identifiers>
        <balance>844026</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>947419</valUSD>
        <pctVal>0.78012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>14.69961</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nexus Apex Holdings, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan, Tranche B-1</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="ApexDDTLB1"/>
        </identifiers>
        <balance>7063824</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7929143</valUSD>
        <pctVal>6.528989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>14.69961</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Velocity Commercial Capital LLC</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>92259RAE5</cusip>
        <identifiers>
          <isin value="US92259RAE53"/>
        </identifiers>
        <balance>546000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>546285</valUSD>
        <pctVal>0.44982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.375</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>Arbor Realty SR Inc.</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>03881NAJ6</cusip>
        <identifiers>
          <isin value="US03881NAJ63"/>
        </identifiers>
        <balance>1075000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>994715</valUSD>
        <pctVal>0.819065</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.875</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>Adamas Trust Inc.</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>00547J108</cusip>
        <identifiers>
          <isin value="US00547J1088"/>
        </identifiers>
        <balance>1551</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37906</valUSD>
        <pctVal>0.031212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25</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>Heritage Energy Holdings, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="HERITAGETL"/>
        </identifiers>
        <balance>1239848</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1215051</valUSD>
        <pctVal>1.000493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>15</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pasadena Private Lending, Inc.</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="PASADENATL"/>
        </identifiers>
        <balance>1878000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1803819</valUSD>
        <pctVal>1.485294</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>14.69961</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BP LPI A-1/A-2 LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="05661@AA5"/>
        </identifiers>
        <balance>4137021</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4021184</valUSD>
        <pctVal>3.31111</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.42306</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>BP LPI A-1/A-2 LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="05661@AJ6"/>
        </identifiers>
        <balance>1411964</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1400669</valUSD>
        <pctVal>1.153334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>13.67306</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>Ready Capital Corporation</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>75574U408</cusip>
        <identifiers>
          <isin value="US75574U4085"/>
        </identifiers>
        <balance>12376</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>311999</valUSD>
        <pctVal>0.256905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.2</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>Circular Services Organics, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="CircularTL"/>
        </identifiers>
        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2444250</valUSD>
        <pctVal>2.012636</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.66774</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>Metropolitan Leverage Partners Fund VII LP</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan, Tranche 1</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="METROVIIDDTL"/>
        </identifiers>
        <balance>5280973</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5280973</valUSD>
        <pctVal>4.348442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.69961</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>SI Tickets, Inc.</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="SITIXWCTL"/>
        </identifiers>
        <balance>659402</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>743146</valUSD>
        <pctVal>0.611918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FinAccel Pte Ltd</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan, Class C Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="FinAccelCNotes"/>
        </identifiers>
        <balance>1871174.5</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1880530</valUSD>
        <pctVal>1.54846</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>20</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>Axar Master Fund Ltd.</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan</title>
        <cusip>05457*AA5</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="AxarDDTL"/>
        </identifiers>
        <balance>1391864</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1350804</valUSD>
        <pctVal>1.112274</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11</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>Logan Ridge Finance Corporation</name>
        <lei>N/A</lei>
        <title>Convertible Senior Unsecured Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="LRFC2032Convert"/>
        </identifiers>
        <balance>160625</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>158489</valUSD>
        <pctVal>0.130502</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</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>Steeprock Real Estate Yield Investors LLC</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>85833DAA3</cusip>
        <identifiers>
          <isin value="US85833DAA37"/>
        </identifiers>
        <balance>2388000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2371284</valUSD>
        <pctVal>1.952555</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.19961</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>ReadyCap Holdings LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Note</title>
        <cusip>755763AC3</cusip>
        <identifiers>
          <isin value="US755763AC36"/>
        </identifiers>
        <balance>219000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>214175</valUSD>
        <pctVal>0.176355</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.5</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>Waterfall Eden Master Fund LTD</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan, Tranche 2</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="WFALLADDON"/>
        </identifiers>
        <balance>4877383</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4862751</valUSD>
        <pctVal>4.004071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.27461</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>Ready Capital Corporation</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="75574UAD3"/>
        </identifiers>
        <balance>245000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>235480</valUSD>
        <pctVal>0.193898</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.375</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>Metropolitan Financing VII LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="59190#AA0"/>
        </identifiers>
        <balance>2336728</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2336728</valUSD>
        <pctVal>1.924101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-12</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.17194</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>Integrated Modular Data Centers, LLC</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="IMDCDDTL"/>
        </identifiers>
        <balance>1834676</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1979615</valUSD>
        <pctVal>1.630048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Horizon Technology Finance Corporation</name>
        <lei>N/A</lei>
        <title>Convertible Senior Unsecured Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="HRZNCNVPFD2"/>
        </identifiers>
        <balance>798060</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>713386</valUSD>
        <pctVal>0.587414</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5</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>Metropolitan Leverage Partners Fund VII LP</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan, Tranche 2</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="METROVIIDDTL2"/>
        </identifiers>
        <balance>1189693</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1189693</valUSD>
        <pctVal>0.979613</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.69961</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>Senior Credit Corp 2022 LLC</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="i40LLCNOTES"/>
        </identifiers>
        <balance>10613013</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10613013</valUSD>
        <pctVal>8.738933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.5</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>SI Tickets, Inc.</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="SITIXDDTL"/>
        </identifiers>
        <balance>1298803</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1233863</valUSD>
        <pctVal>1.015983</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10</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>SI Tickets, Inc.</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="SITIXTL"/>
        </identifiers>
        <balance>1736911</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1650065</valUSD>
        <pctVal>1.358691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.5</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>Sachem Capital Corp.</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>78590A802</cusip>
        <identifiers>
          <isin value="US78590A8027"/>
        </identifiers>
        <balance>5562</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>131263</valUSD>
        <pctVal>0.108084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.125</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>Sachem Capital Corp.</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>78590A604</cusip>
        <identifiers>
          <isin value="US78590A6047"/>
        </identifiers>
        <balance>14511</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>354068</valUSD>
        <pctVal>0.291545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</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>Sachem Capital Corp.</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>78590A877</cusip>
        <identifiers>
          <isin value="US78590A8779"/>
        </identifiers>
        <balance>2715</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>64508</valUSD>
        <pctVal>0.053116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8</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>Sachem Capital Corp.</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note</title>
        <cusip>78590A703</cusip>
        <identifiers>
          <isin value="US78590A7037"/>
        </identifiers>
        <balance>8595</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>205077</valUSD>
        <pctVal>0.168863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</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>Metropolitan Levered Partners Fund VIII LP</name>
        <lei>N/A</lei>
        <title>Senior Secured Loan, Tranche 1</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="59220*AA8"/>
        </identifiers>
        <balance>6305137</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6332249</valUSD>
        <pctVal>5.21408</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.69961</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>ASPF II 2022-I, L.P.</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class B-2 Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="00218FAF1"/>
        </identifiers>
        <balance>5420178</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5522370</valUSD>
        <pctVal>4.547212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.35</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>ASPF II 2022-I, L.P.</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class C-2B Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="00218FAG9"/>
        </identifiers>
        <balance>2981098</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3078847</valUSD>
        <pctVal>2.535174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>15.6</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>Steeprock Real Estate Yield Investors LLC</name>
        <lei>N/A</lei>
        <title>Senior Unsecured Note, Tranche B</title>
        <cusip>85833DAB1</cusip>
        <identifiers>
          <isin value="US85833DAB10"/>
        </identifiers>
        <balance>2284000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2290852</valUSD>
        <pctVal>1.886326</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.19961</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>Dawson Rated Fund 5-R1 LP</name>
        <lei>N/A</lei>
        <title>Senior Secured Rated Feeder Fund Debt, Class B-1 Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="96524KAB6"/>
        </identifiers>
        <balance>135107</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>137941</valUSD>
        <pctVal>0.113582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.819</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>IQHQ, Inc.</name>
        <lei>N/A</lei>
        <title>Preferred Stock, Series D-1</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="44988Q403"/>
        </identifiers>
        <balance>4000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3933000</valUSD>
        <pctVal>3.238498</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rithm Property Trust Inc.</name>
        <lei>N/A</lei>
        <title>Preferred Stock</title>
        <cusip>38983D862</cusip>
        <identifiers>
          <isin value="US38983D8627"/>
        </identifiers>
        <balance>62576</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1557830</valUSD>
        <pctVal>1.282743</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pasadena Private Lending, Inc.</name>
        <lei>N/A</lei>
        <title>Preferred Stock, Class D</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="PASADENAPREFD"/>
        </identifiers>
        <balance>960</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>903831</valUSD>
        <pctVal>0.744229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>15</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pasadena Private Lending, Inc.</name>
        <lei>N/A</lei>
        <title>Preferred Stock, Class C-2</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="PASADENAC-2"/>
        </identifiers>
        <balance>5340</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>173855</valUSD>
        <pctVal>0.143155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10</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>KKR Real Estate Finance Trust Inc.</name>
        <lei>N/A</lei>
        <title>Preferred Stock</title>
        <cusip>48251K209</cusip>
        <identifiers>
          <isin value="US48251K2096"/>
        </identifiers>
        <balance>2532</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43753</valUSD>
        <pctVal>0.036026</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>National Healthcare Properties, Inc.</name>
        <lei>N/A</lei>
        <title>Preferred Stock</title>
        <cusip>42226B204</cusip>
        <identifiers>
          <isin value="US42226B2043"/>
        </identifiers>
        <balance>493</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9367</valUSD>
        <pctVal>0.007712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ready Capital Corporation</name>
        <lei>N/A</lei>
        <title>Preferred Stock, Series E</title>
        <cusip>75574U887</cusip>
        <identifiers>
          <isin value="US75574U8870"/>
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        <balance>8211</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>83177</valUSD>
        <pctVal>0.068489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco Senior Secured Management</name>
        <lei>N/A</lei>
        <title>Preferred Stock</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="INVS61521"/>
        </identifiers>
        <balance>4846902</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4844963</valUSD>
        <pctVal>3.989424</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8</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>Adamas Trust Inc.</name>
        <lei>N/A</lei>
        <title>Preferred Stock, Series F</title>
        <cusip>649604865</cusip>
        <identifiers>
          <isin value="US6496048652"/>
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        <balance>13897</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>326302</valUSD>
        <pctVal>0.268682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>National Healthcare Properties, Inc.</name>
        <lei>N/A</lei>
        <title>Preferred Stock, Series B</title>
        <cusip>42226B303</cusip>
        <identifiers>
          <isin value="US42226B3033"/>
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        <balance>5556</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>103453</valUSD>
        <pctVal>0.085184</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Arbor Realty Trust Inc.</name>
        <lei>N/A</lei>
        <title>Preferred Stock, Series F</title>
        <cusip>038923850</cusip>
        <identifiers>
          <isin value="US0389238504"/>
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        <balance>23791</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>518406</valUSD>
        <pctVal>0.426864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Granite Point Mortgage Trust Inc.</name>
        <lei>N/A</lei>
        <title>Preferred Stock</title>
        <cusip>38741L305</cusip>
        <identifiers>
          <isin value="US38741L3050"/>
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        <balance>241240</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4378506</valUSD>
        <pctVal>3.605335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sachem Capital Corp.</name>
        <lei>N/A</lei>
        <title>Preferred Stock, Series A</title>
        <cusip>78590A505</cusip>
        <identifiers>
          <isin value="US78590A5056"/>
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        <balance>133</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2328</valUSD>
        <pctVal>0.001916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Adamas Trust Inc.</name>
        <lei>N/A</lei>
        <title>Preferred Stock, Series M</title>
        <cusip>649604873</cusip>
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          <isin value="US6496048736"/>
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        <balance>3371</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>82455</valUSD>
        <pctVal>0.067894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FinAccel Pte Ltd</name>
        <lei>N/A</lei>
        <title>FinAccel C Note Warrants</title>
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          <other otherDesc="Other Identifier" value="FinAccelCWarrants"/>
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        <balance>3471</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>128250</valUSD>
        <pctVal>0.105603</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
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              <counterpartyName>FinAccel Pte Ltd</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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              <otherRefInst>
                <issuerName>FinAccel Pte Ltd</issuerName>
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            <shareNo>3471</shareNo>
            <exercisePrice>0.01</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2029-03-12</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>45848</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pasadena Private Lending, Inc.</name>
        <lei>N/A</lei>
        <title>Warrants</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="PasadenaW"/>
        </identifiers>
        <balance>12400</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>91760</valUSD>
        <pctVal>0.075556</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>Pasadena Private Lending, Inc.</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Pasadena Private Lending, Inc.</issuerName>
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                  <ticker value="PasadenaW"/>
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            <shareNo>12400</shareNo>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>N/A</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-24087</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FinAccel Pte Ltd</name>
        <lei>N/A</lei>
        <title>FinAccel C Note PIK Warrants</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Other Identifier" value="FinAccelCPIKWarrant"/>
        </identifiers>
        <balance>12235</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>574653</valUSD>
        <pctVal>0.473178</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>FinAccel Pte Ltd</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>FinAccel Pte Ltd</issuerName>
                <issueTitle>FinAccelCPIKWarrant</issueTitle>
                <identifiers>
                  <ticker value="FinAccelCPIK"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>12235</shareNo>
            <exercisePrice>0.01</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2030-06-30</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>71065</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-05-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Eagle Point Defensive Income Trust</ncom:nameOfApplicant>
      <ncom:signature>Thomas P. Majewski</ncom:signature>
      <ncom:signerName>Thomas P. Majewski</ncom:signerName>
      <ncom:title>Chief Executive Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
