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      <invstOrSec>
        <name>Aimco</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Allegro CLO Ltd</name>
        <lei>N/A</lei>
        <title>Allegro CLO V Ltd</title>
        <cusip>01748WAC8</cusip>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>ALLIANT HOLD / CO-ISSUER</name>
        <lei>N/A</lei>
        <title>Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ALTICE FRANCE SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>Altice France SA</title>
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          <isin value="US02090DAA63"/>
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        <curCd>USD</curCd>
        <valUSD>4026403.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AMENTUM HOLDINGS INC</name>
        <lei>2549009FJIBLW40CU216</lei>
        <title>Amentum Holdings Inc</title>
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          <isin value="US02352BAA35"/>
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        <balance>3250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3347461.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>American Axle and Manufacturing, Inc.</name>
        <lei>RY5TAKFOBLDUGX31MS24</lei>
        <title>American Axle and Manufacturing Inc 2025 Incremental Term Loan C</title>
        <cusip>02406MBB2</cusip>
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          <isin value="US02406MBB28"/>
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        <balance>3258750.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3257381.33000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-03</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.92000000</annualizedRt>
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      <invstOrSec>
        <name>Anchorage Capital CLO LTD</name>
        <lei>54930064GO7DB3TVDY21</lei>
        <title>Anchorage Capital CLO 6 Ltd</title>
        <cusip>03328RBA6</cusip>
        <identifiers>
          <isin value="US03328RBA68"/>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>322512.13000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.81000000</annualizedRt>
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      <invstOrSec>
        <name>Anchorage Capital CLO LTD</name>
        <lei>63670045P01T5CDEDN27</lei>
        <title>Anchorage Capital Clo 32 Ltd</title>
        <cusip>03329HAJ9</cusip>
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          <isin value="US03329HAJ95"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>350875.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Anchorage Capital CLO LTD</name>
        <lei>549300JIJ617WYIUFX18</lei>
        <title>Anchorage Capital Clo 18 Ltd</title>
        <cusip>03331ABC4</cusip>
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          <isin value="US03331ABC45"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>450853.65000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2039-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.44000000</annualizedRt>
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        <name>Anchorage Capital CLO LTD</name>
        <lei>549300JIJ617WYIUFX18</lei>
        <title>Anchorage Capital Clo 18 Ltd</title>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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        <name>Anchorage Capital CLO LTD</name>
        <lei>63670045P01T5CDEDN27</lei>
        <title>Anchorage Capital Clo 34 Ltd</title>
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        <fairValLevel>3</fairValLevel>
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        <name>Anchorage Capital CLO LTD</name>
        <lei>636700ZD2WXM90FMIT59</lei>
        <title>Anchorage Capital CLO 36 Ltd</title>
        <cusip>03333RAA0</cusip>
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          <isin value="US03333RAA05"/>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2039-04-15</maturityDt>
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          <annualizedRt>10.24000000</annualizedRt>
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        <name>ARC FALCON I INC/ARCL/HO</name>
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        <title>ARC Falcon I Inc / Arclin USA LLC / New Arclin US Holding Corp</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Heritage Environmental Services, Inc.</name>
        <lei>549300E3IIHNPMXFHC03</lei>
        <title>Heritage Environmental Services Inc 2026 Term Loan B</title>
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        <fairValLevel>3</fairValLevel>
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        <name>ASCENT RESOURCES/ARU FIN</name>
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        <title>Ascent Resources Utica Holdings LLC / ARU Finance Corp</title>
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        <name>ASURION LLC/ASURION CO</name>
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        <title>Asurion LLC/ Asurion Co-Issuer Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Astoria Energy LLC</name>
        <lei>549300BXD26J7I0IPB62</lei>
        <title>Astoria Energy LLC 2025 Term Loan B</title>
        <cusip>04626LAJ8</cusip>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>Avalara Inc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BEP Intermediate Holdco LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bain Capital Credit CLO, Limited</name>
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          <isin value="US05682FAA84"/>
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        <fairValLevel>3</fairValLevel>
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        <name>Bain Capital Credit CLO, Limited</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Bain Capital Credit CLO, Limited</name>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2037-07-15</maturityDt>
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        <name>Ballyrock Ltd</name>
        <lei>254900KWGJ97WUSMSQ74</lei>
        <title>Ballyrock CLO 26 Ltd</title>
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          <isin value="US05876PAA21"/>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2037-07-25</maturityDt>
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      <invstOrSec>
        <name>BELO CORP</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
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      <invstOrSec>
        <name>Benefit Street Partners CLO Ltd</name>
        <lei>5493008E17UEFI73RC63</lei>
        <title>Benefit Street Partners CLO XIV Ltd</title>
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        <fairValLevel>3</fairValLevel>
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        <name>Benefit Street Partners CLO Ltd</name>
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        <title>Benefit Street Partners Clo XXXVII Ltd</title>
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        <fairValLevel>3</fairValLevel>
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        <title>Benefit Street Partners Clo XLV Ltd</title>
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        <fairValLevel>3</fairValLevel>
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        <name>Benefit Street Partners CLO Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Blueberry Park CLO</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Blueberry Park CLO</name>
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        <fairValLevel>3</fairValLevel>
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        <name>BOMBARDIER INC</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>Bombardier Inc</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BOMBARDIER INC</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>Bombardier Inc</title>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Databricks Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Diameter Capital CLO</name>
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        <fairValLevel>3</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Dryden Senior Loan Fund</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Dryden Senior Loan Fund</name>
        <lei>254900XN9Y85HJGYJ219</lei>
        <title>Dryden 115 CLO Ltd</title>
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        <fairValLevel>3</fairValLevel>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Dryden Senior Loan Fund</name>
        <lei>549300KI3ILQQHC87U86</lei>
        <title>Dryden 104 CLO Ltd</title>
        <cusip>26253DAE0</cusip>
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          <isin value="US26253DAE04"/>
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        <balance>2878000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2889155.13000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.04000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>DCP MIDSTREAM OPERATING</name>
        <lei>549300Y6CTBSE0QIPL28</lei>
        <title>DCP Midstream Operating LP</title>
        <cusip>26439XAC7</cusip>
        <identifiers>
          <isin value="US26439XAC74"/>
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        <balance>3330000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3746017.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.13000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>ECI Macola Max Holding LLC</name>
        <lei>549300MZ2LKM75L5EI42</lei>
        <title>ECI Macola Max Holding LLC 2025 Term Loan</title>
        <cusip>26825UAN1</cusip>
        <identifiers>
          <isin value="US26825UAN19"/>
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        <balance>1985000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1880787.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.48000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Elmwood CLO VIII Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO VIII Ltd</title>
        <cusip>290021AL8</cusip>
        <identifiers>
          <isin value="US290021AL80"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>486737.50000000</valUSD>
        <pctVal>0.151233320026</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.93000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Elmwood CLO IV Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO IV Ltd</title>
        <cusip>29002KAE2</cusip>
        <identifiers>
          <isin value="US29002KAE29"/>
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        <balance>1369000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1358947.43000000</valUSD>
        <pctVal>0.422236075051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.83000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Elmwood CLO XI Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO XI Ltd</title>
        <cusip>29002MAC2</cusip>
        <identifiers>
          <isin value="US29002MAC29"/>
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        <balance>1280000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>783406.08000000</valUSD>
        <pctVal>0.243410672913</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-20</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>18.99000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Elmwood CLO 28 Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO 28 Ltd</title>
        <cusip>29003PAA8</cusip>
        <identifiers>
          <isin value="US29003PAA84"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>505688.00000000</valUSD>
        <pctVal>0.157121395285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.68000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Elmwood CLO 26 Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO 26 Ltd</title>
        <cusip>29004DAC0</cusip>
        <identifiers>
          <isin value="US29004DAC02"/>
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        <balance>540541.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>320677.03000000</valUSD>
        <pctVal>0.099636974556</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-18</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Elmwood CLO 32 Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO 32 Ltd</title>
        <cusip>29004EAC8</cusip>
        <identifiers>
          <isin value="US29004EAC84"/>
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        <balance>1770000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1111237.86000000</valUSD>
        <pctVal>0.345270686780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-18</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Elmwood CLO 35 Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO 35 Ltd</title>
        <cusip>29004RAC9</cusip>
        <identifiers>
          <isin value="US29004RAC97"/>
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        <balance>1020000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>668527.38000000</valUSD>
        <pctVal>0.207716921761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-18</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Elmwood CLO 44 Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO 44 Ltd</title>
        <cusip>29004XAA0</cusip>
        <identifiers>
          <isin value="US29004XAA00"/>
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        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>702287.60000000</valUSD>
        <pctVal>0.218206498084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.38000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Elmwood CLO 46 Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO 46 Ltd</title>
        <cusip>29005HAA4</cusip>
        <identifiers>
          <isin value="US29005HAA41"/>
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        <balance>870000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>875065.14000000</valUSD>
        <pctVal>0.271889892111</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.68000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENSEMBLE RCM LLC</name>
        <lei>254900PDXJVVI20WAQ37</lei>
        <title>Ensemble RCM LLC 2026 Term Loan B</title>
        <cusip>29359BAH4</cusip>
        <identifiers>
          <isin value="US29359BAH42"/>
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        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3485125.00000000</valUSD>
        <pctVal>1.082856826230</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.66000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fertitta Entertainment LLC</name>
        <lei>984500A0805D8V551D35</lei>
        <title>Fertitta Entertainment LLC 2022 Term Loan B</title>
        <cusip>31556PAB3</cusip>
        <identifiers>
          <isin value="US31556PAB31"/>
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        <balance>2968992.24000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2964479.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.87000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FIRST QUANTUM MINERALS L</name>
        <lei>549300I7UVBGWRYMYZ18</lei>
        <title>First Quantum Minerals Ltd</title>
        <cusip>335934AX3</cusip>
        <identifiers>
          <isin value="US335934AX36"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2051028.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Flatiron CLO Ltd</name>
        <lei>254900DN5GP1YLQEIW03</lei>
        <title>Flatiron CLO 21 Ltd</title>
        <cusip>33883TAE9</cusip>
        <identifiers>
          <isin value="US33883TAE91"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>241346.50000000</valUSD>
        <pctVal>0.074988330407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.58000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FORD MOTOR CREDIT CO LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co LLC</title>
        <cusip>345397C35</cusip>
        <identifiers>
          <isin value="US345397C353"/>
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        <balance>1465000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1505565.51000000</valUSD>
        <pctVal>0.467791511019</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.35000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>INSIGHT ENTERPRS</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Invesco CLO LTD</name>
        <lei>54930008KRIBK4JIR608</lei>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>IQVIA INC</name>
        <lei>549300PLWY28YB00C717</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IRON MOUNTAIN INC</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain Inc</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>iSolved Inc</name>
        <lei>N/A</lei>
        <title>iSolved Inc 2025 Term Loan</title>
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          <isin value="US46488HAF38"/>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
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      <invstOrSec>
        <name>KKR Financial CLO Ltd</name>
        <lei>254900X4SZ7MY83NGT93</lei>
        <title>KKR CLO 50 Ltd</title>
        <cusip>481953AE7</cusip>
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          <isin value="US481953AE78"/>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-20</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KKR Financial CLO Ltd</name>
        <lei>2549008R44IN2IU2DG62</lei>
        <title>KKR CLO 46 Ltd</title>
        <cusip>48255WAE0</cusip>
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          <isin value="US48255WAE03"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>238652.25000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-20</maturityDt>
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      <invstOrSec>
        <name>KKR Financial CLO Ltd</name>
        <lei>2549008R44IN2IU2DG62</lei>
        <title>KKR CLO 58 Ltd</title>
        <cusip>48257JAA5</cusip>
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          <isin value="US48257JAA51"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-15</maturityDt>
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      <invstOrSec>
        <name>KKR Financial CLO Ltd</name>
        <lei>254900974UU3OEPQ5P61</lei>
        <title>KKR CLO 59 Ltd</title>
        <cusip>48257LAA0</cusip>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2039-01-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Kaman Corporation</name>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>KAMAN CORPORATION</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ADVANCION SCIENCES INC</name>
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        <title>Advancion Sciences Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>KODIAK GAS SERVICES LLC</name>
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        <title>Kodiak Gas Services LLC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LCM Ltd Partnership</name>
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        <title>LCM XV LP</title>
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        <fairValLevel>3</fairValLevel>
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        <name>Darktrace PLC</name>
        <lei>N/A</lei>
        <title>Darktrace PLC 1st Lien Term Loan</title>
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        <fairValLevel>2</fairValLevel>
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        <name>LEVEL 3 FINANCING INC</name>
        <lei>254900AE5FEFIJOXWL19</lei>
        <title>Level 3 Financing Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>LIGHT &amp; WONDER INTL INC</name>
        <lei>RLTHESQ0RNFQJWPBJN60</lei>
        <title>Light &amp; Wonder International Inc</title>
        <cusip>531968AA3</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>LIGHT &amp; WONDER INTL INC</name>
        <lei>RLTHESQ0RNFQJWPBJN60</lei>
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        <curCd>USD</curCd>
        <valUSD>2735095.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LIVE NATION ENTERTAINMEN</name>
        <lei>5493007B9BM9ZXJINO78</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MGM RESORTS INTL</name>
        <lei>54930066VBP7DZEGGJ87</lei>
        <title>MGM Resorts International</title>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Madison Park Funding Ltd</name>
        <lei>254900PB1ZVJO7PYBX29</lei>
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          <isin value="US55790AAE55"/>
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        <balance>560000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>359596.16000000</valUSD>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-21</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Atrium CDO Corp</name>
        <lei>N/A</lei>
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          <isin value="US557912AA04"/>
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        <balance>2800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2518289.20000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.18000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Madison Park Funding Ltd</name>
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        <title>Madison Park Funding XXXII Ltd</title>
        <cusip>55817CAC4</cusip>
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          <isin value="US55817CAC47"/>
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        <curCd>USD</curCd>
        <valUSD>606452.79000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-22</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Madison Park Funding Ltd</name>
        <lei>254900PB1ZVJO7PYBX29</lei>
        <title>Madison Park Funding XXXII Ltd</title>
        <cusip>55817CAG5</cusip>
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          <isin value="US55817CAG50"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2690304.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>5.28000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Madison Park Funding Ltd</name>
        <lei>254900PB1ZVJO7PYBX29</lei>
        <title>Madison Park Funding XXXVII Ltd</title>
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          <isin value="US55817FAG81"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.27000000</annualizedRt>
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      <invstOrSec>
        <name>Madison Park Funding Ltd</name>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Madison Park Funding Ltd</name>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Madison Park Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Madison Park Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Madison Park Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Madison Park Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Madison Park Funding Ltd</name>
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        <title>Madison Park Funding LIII Ltd</title>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Madison Park Funding Ltd</name>
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        <title>Madison Park Funding XXXIV Ltd</title>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Madison Park Funding Ltd</name>
        <lei>549300XQII222AK58E79</lei>
        <title>Madison Park Funding LXIII Ltd</title>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-21</maturityDt>
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        <fairValLevel>2</fairValLevel>
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        <name>Oak Hill Credit</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>Oak Hill Credit</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Pye-Barker Fire &amp; Safety, LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>PAR PETROLEUM LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Paysafe Holdings (US) Corp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pinnacle Buyer LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Project Ruby Ultimate Parent Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PROOFPOINT INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>QXO BUILDING PRODUCTS</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>RR Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Spa Holdings 3 Oy</name>
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        <name>Serenity-Peace Park CLO LTD</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Signal Peak CLO, LLC</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>SIX FLAGS/CAN WON/MILLEN</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sixth Street CLO LTD.</name>
        <lei>2549009LM706L5P4IH84</lei>
        <title>Sixth Street CLO XIX Ltd</title>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Sixth Street CLO LTD.</name>
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          <isin value="US83011UAE64"/>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Sixth Street CLO LTD.</name>
        <lei>2549009LM706L5P4IH84</lei>
        <title>Sixth Street CLO 32 Ltd</title>
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          <isin value="US83013EAA82"/>
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        <valUSD>1019611.00000000</valUSD>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Sixth Street CLO LTD.</name>
        <lei>2549009LM706L5P4IH84</lei>
        <title>Sixth Street CLO 31 Ltd</title>
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          <isin value="US83014AAA51"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2039-01-17</maturityDt>
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      <invstOrSec>
        <name>SKYSHIELD US BIDCO LTD</name>
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          <isin value="US83087DAB91"/>
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        <curCd>USD</curCd>
        <valUSD>1498125.00000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-02</maturityDt>
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      <invstOrSec>
        <name>South Field LLC</name>
        <lei>549300M3RBW5ZIH20760</lei>
        <title>South Field LLC 2025 1st Lien Term Loan C</title>
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          <isin value="US83783XAF33"/>
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        <balance>191031.40000000</balance>
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        <curCd>USD</curCd>
        <valUSD>190951.17000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>South Field LLC</name>
        <lei>549300M3RBW5ZIH20760</lei>
        <title>South Field LLC 2025 1st Lien Term Loan B</title>
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          <isin value="US83783XAG16"/>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Specialty Building Products Holdings LLC</name>
        <lei>549300ICFD46O3KMJC06</lei>
        <title>Specialty Building Products Holdings LLC 2021 Term Loan B</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>STANDARD BUILDING SOLUTI</name>
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        <fairValLevel>2</fairValLevel>
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        <name>STATION CASINOS LLC</name>
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        <title>Station Casinos LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SUMMIT MIDSTREAM HOLDING</name>
        <lei>N/A</lei>
        <title>Summit Midstream Holdings LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SUNOCO LP</name>
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        <title>Sunoco LP</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SUNOCO LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TALLGRASS NRG PRTNR/FIN</name>
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        <title>Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tenneco Inc</name>
        <lei>549300U0EXXFAQFAD785</lei>
        <title>Tenneco Inc 2022 Term Loan A</title>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>Tenneco Inc</name>
        <lei>549300U0EXXFAQFAD785</lei>
        <title>Tenneco Inc 2022 Term Loan B</title>
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        <balance>3000000.00000000</balance>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Traverse Midstream Partners LLC</name>
        <lei>549300DHTM8B2X5QMJ22</lei>
        <title>Traverse Midstream Partners LLC 2017 Term Loan</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Trimaran CAVU Ltd</name>
        <lei>254900IFDJE1IJQ1HT84</lei>
        <title>Trimaran CAVU 2025-3 Ltd</title>
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        <fairValLevel>3</fairValLevel>
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        <name>TRIDENT TPI HOLDINGS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Trimaran CAVU Ltd</name>
        <lei>254900IFDJE1IJQ1HT84</lei>
        <title>Trimaran Cavu 2021-1 Ltd</title>
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        <fairValLevel>3</fairValLevel>
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        <name>PRIMO BRANDS CORPORATION</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITED RENTALS NORTH AM</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VENTURE GLOBAL PLAQUE</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>VENTURE GLOBAL LNG INC</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Voya CLO Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Voya CLO Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Voya CLO Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>WR Grace &amp; Co-Conn</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wand NewCo 3 Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Wash Multifamily Parent Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wehle Park CLO Ltd.</name>
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        <fairValLevel>3</fairValLevel>
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        <name>WHIRLPOOL CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>White Cap Buyer LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Wilsonart LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WILSONART LLC</name>
        <lei>549300SAZRUMYKDJBY14</lei>
        <title>Wilsonart LLC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>XPO INC</name>
        <lei>54930096DB9LCLPN7H13</lei>
        <title>XPO Inc</title>
        <cusip>98379KAA0</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>ZF NA CAPITAL</name>
        <lei>529900JYGMS9CW9IQX78</lei>
        <title>ZF North America Capital Inc</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Goldman Sachs &amp; Co. LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
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        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Goldman Sachs &amp; Co. LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
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        <fairValLevel>2</fairValLevel>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>KAPLA HOLDING SAS</name>
        <lei>894500PJ28XTH66K4X83</lei>
        <title>Kapla Holding SAS</title>
        <cusip>000000000</cusip>
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          <isin value="XS3356049463"/>
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        <balance>857000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>QUALITYTECH LP</name>
        <lei>549300GWD2FYVWRWCZ90</lei>
        <title>QualityTech LP Term Loan B</title>
        <cusip>74758JAB3</cusip>
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          <isin value="US74758JAB35"/>
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        <balance>2468750.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hamilton Projects Acquiror, LLC</name>
        <lei>5493005K6XILIQ2EZY52</lei>
        <title>Hamilton Projects Acquiror LLC 2025 Repriced Term Loan B</title>
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          <other otherDesc="LoanX ID" value="LX264640"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Athena Holdco SAS</name>
        <lei>2549000RJO0263KQGB75</lei>
        <title>Athena Holdco SAS 2025 EUR Repriced Term Loan</title>
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        <fairValLevel>2</fairValLevel>
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        <name>ARGENT BIDCO SAS</name>
        <lei>969500EUACKHJGAJ8J38</lei>
        <title>Argent Bidco SAS EUR Term Loan B</title>
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        <fairValLevel>2</fairValLevel>
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        <name>ALKERMES INC</name>
        <lei>549300YHRMYLL071E243</lei>
        <title>Alkermes Inc 2026 Term Loan B</title>
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        <fairValLevel>2</fairValLevel>
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        <name>INDECK NILES LLC</name>
        <lei>5493003HISDK37Z6Q008</lei>
        <title>Indeck Niles LLC Term Loan B</title>
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        <fairValLevel>3</fairValLevel>
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        <name>TRAVERSE MIDSTREAM PRTNERS LLC</name>
        <lei>549300DHTM8B2X5QMJ22</lei>
        <title>TRAVERSE MIDSTREAM PRTNERS LLC 2026 TERM LOAN B</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BASF COATINGS</name>
        <lei>254900KMOLWUGX29DB02</lei>
        <title>BASF COATINGS TERM LOAN B</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>PIONEER OPCO LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ADI GLOBAL DISTRIB FNDNG LLC</name>
        <lei>N/A</lei>
        <title>ADI GLOBAL DISTRIB FNDNG LLC TERM LOAN B</title>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1501875.00000000</valUSD>
        <pctVal>0.466644839394</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AI AQUA MERGER SUB INC</name>
        <lei>5493005QMH1D47U26R45</lei>
        <title>AI AQUA MERGER SUB INC 2026 USD TERM LOAN B</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX292759"/>
        </identifiers>
        <balance>4018412.73000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4013912.11000000</valUSD>
        <pctVal>1.247155303813</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bausch &amp; Lomb Corporation</name>
        <lei>549300NY6OZM39SO6475</lei>
        <title>Bausch &amp; Lomb Corporation 2025 Repriced Term Loan</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XAC0787FAL67"/>
        </identifiers>
        <balance>1950112.50000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1952550.14000000</valUSD>
        <pctVal>0.606673289381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.39000000</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>Ontario Gaming GTA LP</name>
        <lei>894500EC9KLZLOC3V025</lei>
        <title>Ontario Gaming GTA LP Term Loan B</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XAC6907UAB70"/>
        </identifiers>
        <balance>994890.94000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>945335.42000000</valUSD>
        <pctVal>0.293723442523</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.98000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Clarios Global LP</name>
        <lei>549300474L1ZLXZY2P98</lei>
        <title>Clarios Global LP 2024 USD Term Loan B</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XAC8000CAM55"/>
        </identifiers>
        <balance>2259036.76000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2259036.76000000</valUSD>
        <pctVal>0.701901187553</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.14000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OHA Credit Partners Ltd</name>
        <lei>549300OYGEU6QQMCEG78</lei>
        <title>OHA Credit Partners XI Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="USG67217AC63"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>180665.20000000</valUSD>
        <pctVal>0.056134154465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-20</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Virgin Media Bristol LLC</name>
        <lei>213800IQ982XX69LE276</lei>
        <title>Virgin Media Bristol LLC 2023 USD Term Loan Y</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XAG9368PBH64"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2650410.00000000</valUSD>
        <pctVal>0.823504052454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.97000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Peer Holding III BV</name>
        <lei>7245002S0K5Q59JCVQ03</lei>
        <title>Peer Holding III BV 2025 USD Term Loan B4B</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XAN6872NAM82"/>
        </identifiers>
        <balance>4899873.40000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4905998.24000000</valUSD>
        <pctVal>1.524333756654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.23000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
      <explntrNote note="Please see notes to financial statements or N-PORT part F for a glossary of swap paid and received terms." noteItem="C.11.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-07-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Ares Dynamic Credit Allocation Fund, Inc.</ncom:nameOfApplicant>
      <ncom:signature>Paul Cho</ncom:signature>
      <ncom:signerName>Paul Cho</ncom:signerName>
      <ncom:title>Chief Accounting Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
