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        <name>SEALED AIR CORPORATION</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ADOBE INC.</name>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <name>REYNOLDS CONSUMER PRODUCTS INC.</name>
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        <name>OKTA, INC.</name>
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        <name>SEALED AIR CORPORATION</name>
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        <name>CITADEL SECURITIES LLC</name>
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        <name>WORKDAY, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Teck Resources Limited</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>DAIWA CAPITAL MARKETS AMERICA INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <name>KENNEDY-WILSON HOLDINGS, INC.</name>
        <lei>549300MOI1T78144X610</lei>
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        <name>Brookfield Renewable Partners L.P.</name>
        <lei>VA8DFMRI2GY8Y7V79H93</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>DIGITALBRIDGE GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CSG SYSTEMS INTERNATIONAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TRI POINTE HOMES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Atrium Therapeutics Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HOLOGIC, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BRIGHTHOUSE FINANCIAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>WORKIVA INC.</name>
        <lei>529900RTOQ8GRWHY1O58</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CANTOR FITZGERALD SECURITIES</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>RBC DOMINION SECURITIES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>WARNER BROS. DISCOVERY, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>THE MIDDLEBY CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ELECTRONIC ARTS INC.</name>
        <lei>549300O7A67PUEYKDL45</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Kyivstar Group Ltd</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>AIR LEASE CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Fermi Inc</name>
        <lei>529900TSHBYBCFMYZ228</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>TXNM Energy, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SOTERA HEALTH COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PROASSURANCE CORPORATION</name>
        <lei>54930015E5J57R675E89</lei>
        <title>PROASSURANCE CORP COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>WARNER BROS. DISCOVERY, INC.</name>
        <lei>5493006ZCRFWKF6B1K26</lei>
        <title>WBD US 07/17/26 P28 LONG</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SELECT MEDICAL HOLDINGS CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>JAMES HARDIE INDUSTRIES PUBLIC LIMITED COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>INDIE SEMICONDUCTOR, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>GitLab Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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          <isin value="US2825591033"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
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        <name>PRIMO BRANDS CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>DIGITALBRIDGE GROUP, INC.</name>
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          <ticker value="DBRG US 04/17/26 C16 Equity"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CSX Corporation</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>RINGCENTRAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>GENUINE PARTS COMPANY</name>
        <lei>549300D46DQVEU651W04</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FORTUNE BRANDS INNOVATIONS, INC.</name>
        <lei>54930032LHW54PQUJD44</lei>
        <title>FORTUNE BRANDS INNOVATIONS I COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>NOVARTIS AG - CVR</name>
        <lei>N/A</lei>
        <title>NOVARTIS AG - CVR 1 SHARE OF 66987VCVR AND 40 USD PER KDNY</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
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        <name>1RT Acquisition Corp</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>LIONSGATE STUDIOS CORP.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <title>PARATEK PHARMACEUTICALS INC CONTINGENT VALUE RIGHT - PRTK US</title>
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        <name>CATERPILLAR INC.</name>
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        <name>WARNER BROS. DISCOVERY, INC.</name>
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        <name>SMURFIT WESTROCK PUBLIC LIMITED COMPANY</name>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CITIGROUP GLOBAL MARKETS INC</name>
        <lei>N/A</lei>
        <title>CITIGROUP GLOBAL MARKETS INC. SLRPA 3.660% 04/01/2026</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.66</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="N/A" name="N/A"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>3.66</repurchaseRt>
          <maturityDt>2026-04-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>54699</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>54699</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCatConditional desc="Other" invstCat="Other instrument"/>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="54699" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA SECURITIES INTERNATIONAL INC</name>
        <lei>N/A</lei>
        <title>Nomura Securities Intl, Inc. SLRPD 3.670% 04/01/2026</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="NMRA"/>
        </identifiers>
        <balance>30375</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30375</valUSD>
        <pctVal>0.038465970286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.67</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="N/A" name="N/A"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>3.67</repurchaseRt>
          <maturityDt>2026-04-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>30375</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>30375</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCatConditional desc="Other" invstCat="Other instrument"/>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="30375" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAIWA CAPITAL MARKETS AMERICA INC</name>
        <lei>N/A</lei>
        <title>DAIWA CAPITAL MARKETS AMERICA INC. SLRPD 3.670% 04/01/2026</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="DAIW"/>
        </identifiers>
        <balance>262960</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>262960</valUSD>
        <pctVal>0.333004495362</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.67</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="N/A" name="N/A"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>3.67</repurchaseRt>
          <maturityDt>2026-04-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>262960</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>262960</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCatConditional desc="Other" invstCat="Other instrument"/>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="262960" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="The presentation of the Class A returns in Item B.5.a, includes the sales load associated with the share class. " noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-03-31</ncom:dateSigned>
      <ncom:nameOfApplicant>NexPoint Funds I</ncom:nameOfApplicant>
      <ncom:signature>Stephanie Vitiello</ncom:signature>
      <ncom:signerName>Stephanie Vitiello</ncom:signerName>
      <ncom:title>CCO</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
