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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>CenterPoint Energy Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CENTRUS ENERGY CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CHEESECAKE FACTORY (THE)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CHEFS' WAREHOUSE THE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CIPHER DIGITAL INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CLEANSPARK INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CLOUDFLARE INC</name>
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        <title>Cloudflare Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>COHU INC</name>
        <lei>529900FJPORJ3JJ2XS33</lei>
        <title>Cohu Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
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              <name>Cohu, Inc.</name>
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        <lei>5299003RGB2LAZ65RK73</lei>
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        <fairValLevel>2</fairValLevel>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
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            <dbtSecRefInstrument>
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      <invstOrSec>
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        <lei>H0TWO5VRNEP6CQAWPX27</lei>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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            <currencyInfo convRatio="33.59070000" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>CYBERARK SOFTWARE LTD</name>
        <lei>529900YEXNDM894PWS93</lei>
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        <invCountry>IL</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
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            <dbtSecRefInstrument>
              <name>Palo Alto Networks, Inc.</name>
              <title>Palo Alto Networks, Inc.</title>
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          <currencyInfos>
            <currencyInfo convRatio="4.31610000" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>DIGITALOCEAN HOLDINGS</name>
        <lei>549300EPISPY3RE3DL21</lei>
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          <isin value="US25402DAC65"/>
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        <fairValLevel>2</fairValLevel>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
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            <dbtSecRefInstrument>
              <name>DigitalOcean Holdings, Inc.</name>
              <title>DigitalOcean Holdings, Inc.</title>
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            <currencyInfo convRatio="25.53170000" curCd="USD"/>
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          <delta>XXXX</delta>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EVERGY INC</name>
        <lei>549300PGTHDQY6PSUI61</lei>
        <title>Evergy Inc</title>
        <cusip>30034WAD8</cusip>
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        <balance>247000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>337935.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-15</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Evergy, Inc.</name>
              <title>Evergy, Inc.</title>
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            <currencyInfo convRatio="16.23720000" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>FIRSTENERGY CORP</name>
        <lei>549300SVYJS666PQJH88</lei>
        <title>FirstEnergy Corp</title>
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        <valUSD>317424.96000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
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            <dbtSecRefInstrument>
              <name>FirstEnergy Corp.</name>
              <title>FirstEnergy Corp.</title>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>FIRSTENERGY CORP</name>
        <lei>549300SVYJS666PQJH88</lei>
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        <fairValLevel>2</fairValLevel>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
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              <title>FirstEnergy Corp.</title>
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      <invstOrSec>
        <name>GRANITE CONSTRUCTION INC</name>
        <lei>549300OM4BWMCIXVCZ39</lei>
        <title>Granite Construction Inc</title>
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        <fairValLevel>2</fairValLevel>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
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              <title>Granite Construction, Inc.</title>
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      <invstOrSec>
        <name>GRANITE CONSTRUCTION INC</name>
        <lei>549300OM4BWMCIXVCZ39</lei>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
              <name>Granite Construction, Inc.</name>
              <title>Granite Construction, Inc.</title>
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        <name>GUARDANT HEALTH INC</name>
        <lei>254900M8C3E5VC8BR186</lei>
        <title>Guardant Health Inc</title>
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        <fairValLevel>2</fairValLevel>
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              <title>Guardant Health, Inc.</title>
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      <invstOrSec>
        <name>GUARDANT HEALTH INC</name>
        <lei>254900M8C3E5VC8BR186</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-15</maturityDt>
          <couponKind>None</couponKind>
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              <title>Guardant Health, Inc.</title>
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      <invstOrSec>
        <name>HALOZYME THERAPEUTICS IN</name>
        <lei>529900242I3SV9AGM753</lei>
        <title>Halozyme Therapeutics Inc</title>
        <cusip>40637HAF6</cusip>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
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            <dbtSecRefInstrument>
              <name>Halozyme Therapeutics, Inc.</name>
              <title>Halozyme Therapeutics, Inc.</title>
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                <isin value="US40637H1095"/>
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        <name>HAT HOLDINGS I LLC/HAT</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isContngtConvrtbl>N</isContngtConvrtbl>
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            <dbtSecRefInstrument>
              <name>Hannon Armstrong Sustainable Infrastructure Capital, Inc.</name>
              <title>Hannon Armstrong Sustainable Infrastructure Capital, Inc.</title>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>HP ENTERPRISE CO</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HIMS &amp; HERS HEALTH</name>
        <lei>254900V041EIVTSB6D58</lei>
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          <isin value="US433000AC09"/>
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        <fairValLevel>2</fairValLevel>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
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            <dbtSecRefInstrument>
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            <currencyInfo convRatio="33.85900000" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>INTERDIGITAL INC</name>
        <lei>N/A</lei>
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          <isin value="US45867GAD34"/>
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        <fairValLevel>2</fairValLevel>
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          <isContngtConvrtbl>N</isContngtConvrtbl>
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            <dbtSecRefInstrument>
              <name>InterDigital, Inc.</name>
              <title>InterDigital, Inc.</title>
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                <cusip value="45867G101"/>
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            <currencyInfo convRatio="13.03510000" curCd="USD"/>
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      <invstOrSec>
        <name>INTUITIVE MACHINES INC</name>
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          <isin value="US46125AAA88"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Intuitive Machines, Inc.</name>
              <title>Intuitive Machines, Inc.</title>
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                <cusip value="46125A100"/>
                <isin value="US46125A1007"/>
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          <currencyInfos>
            <currencyInfo convRatio="76.26310000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>IONIS PHARMACEUTICALS IN</name>
        <lei>549300SI4ZGLG0BLUZ92</lei>
        <title>Ionis Pharmaceuticals Inc</title>
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          <isin value="US462222AF72"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Ionis Pharmaceuticals Inc</name>
              <title>Ionis Pharmaceuticals Inc</title>
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            <currencyInfo convRatio="18.61200000" curCd="USD"/>
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      <invstOrSec>
        <name>KKR &amp; CO INC</name>
        <lei>54930013V5I303TF9571</lei>
        <title>KKR &amp; Co Inc</title>
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        <fairValLevel>1</fairValLevel>
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        <name>LANTHEUS HOLDINGS INC</name>
        <lei>5299005HUB5IOJGO7S39</lei>
        <title>Lantheus Holdings Inc</title>
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        <fairValLevel>2</fairValLevel>
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              <name>Lantheus Holdings, Inc.</name>
              <title>Lantheus Holdings, Inc.</title>
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        <name>LIBERTY LIVE HLDNGS INC</name>
        <lei>N/A</lei>
        <title>Liberty Live Holdings Inc</title>
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        <balance>238000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Live Nation Entertainment, Inc.</name>
              <title>Live Nation Entertainment, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="538034109"/>
                <isin value="US5380341090"/>
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        <name>LIBERTY MEDIA CORP</name>
        <lei>N/A</lei>
        <title>Liberty Media Corp-Liberty Formula One</title>
        <cusip>531229AQ5</cusip>
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        <fairValLevel>2</fairValLevel>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
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              <name>Liberty Media Corp.-Liberty Formula One</name>
              <title>Liberty Media Corp.-Liberty Formula One</title>
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        <name>LIGAND PHARMACEUTICALS I</name>
        <lei>5493008K7TB0IKP37H79</lei>
        <title>Ligand Pharmaceuticals Inc</title>
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        <balance>98000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
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              <name>Ligand Pharmaceuticals, Inc.</name>
              <title>Ligand Pharmaceuticals, Inc.</title>
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      <invstOrSec>
        <name>LIVE NATION ENTERTAINMEN</name>
        <lei>5493007B9BM9ZXJINO78</lei>
        <title>Live Nation Entertainment Inc</title>
        <cusip>538034BA6</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.13000000</annualizedRt>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
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              <name>Live Nation Entertainment, Inc.</name>
              <title>Live Nation Entertainment, Inc.</title>
              <curCd>USD</curCd>
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                <isin value="US5380341090"/>
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          <delta>XXXX</delta>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LUMENTUM HOLDINGS INC</name>
        <lei>549300JLWRRC38DWEF52</lei>
        <title>Lumentum Holdings Inc</title>
        <cusip>55024UAJ8</cusip>
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        <balance>269000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1049048.89000000</valUSD>
        <pctVal>1.706840301821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.38000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Lumentum Holdings Inc</name>
              <title>Lumentum Holdings Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>OSI SYSTEMS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ON SEMICONDUCTOR CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Opendoor Technologies Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Opendoor Technologies Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>Sable Offshore Corp.</title>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>QXO INC</name>
        <lei>549300HDXQWWCBOYXP31</lei>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SNOWFLAKE INC</name>
        <lei>254900CJNSY1K7T53Z16</lei>
        <title>Snowflake Inc</title>
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          <isin value="US833445AB53"/>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
              <name>Snowflake, Inc.</name>
              <title>Snowflake, Inc.</title>
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            <currencyInfo convRatio="6.34920000" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>SNOWFLAKE INC</name>
        <lei>254900CJNSY1K7T53Z16</lei>
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          <isin value="US833445AD10"/>
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        <fairValLevel>2</fairValLevel>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
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            <dbtSecRefInstrument>
              <name>Snowflake, Inc.</name>
              <title>Snowflake, Inc.</title>
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            <currencyInfo convRatio="6.34920000" curCd="USD"/>
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      <invstOrSec>
        <name>SOFI TECHNOLOGIES INC</name>
        <lei>549300SW81JCMVZDDY09</lei>
        <title>SoFi Technologies Inc</title>
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        <fairValLevel>2</fairValLevel>
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              <name>SoFi Technologies, Inc.</name>
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        <name>SOLARIS ENERGY INFRASTRU</name>
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        <title>Solaris Energy Infrastructure Inc</title>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>Solaris Energy Infrastructure Inc</title>
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            <currencyInfo convRatio="17.48250000" curCd="USD"/>
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        <name>SOUTHERN CO</name>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
              <name>Southern Co.</name>
              <title>Southern Co.</title>
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        <name>STRIDE INC</name>
        <lei>254900BRWS3AFONWU277</lei>
        <title>Stride Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SUPER MICRO COMPUTER INC</name>
        <lei>54930022CZO1N2UGVW07</lei>
        <title>Super Micro Computer Inc</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SYNAPTICS INC</name>
        <lei>549300AJ3LI4FWNRQX29</lei>
        <title>Synaptics Inc</title>
        <cusip>87157DAJ8</cusip>
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        <fairValLevel>2</fairValLevel>
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              <name>Synaptics, Inc.</name>
              <title>Synaptics, Inc.</title>
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          <delta>XXXX</delta>
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        <name>TERAWULF INC</name>
        <lei>254900CVMW1SX2T78A64</lei>
        <title>Terawulf Inc</title>
        <cusip>88080TAB0</cusip>
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        <balance>107000.00000000</balance>
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        <valUSD>243283.76000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
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            <dbtSecRefInstrument>
              <name>Terawulf, Inc.</name>
              <title>Terawulf, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
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                <isin value="US88080T1043"/>
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          <currencyInfos>
            <currencyInfo convRatio="117.92450000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TERAWULF INC</name>
        <lei>254900CVMW1SX2T78A64</lei>
        <title>Terawulf Inc</title>
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        <fairValLevel>1</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>WESTERN DIGITAL CORP</name>
        <lei>549300QQXOOYEF89IC56</lei>
        <title>Western Digital Corp</title>
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        <fairValLevel>2</fairValLevel>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Western Digital Corp.</name>
              <title>Western Digital Corp.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="958102105"/>
                <isin value="US9581021055"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="26.49500000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WHIRLPOOL CORP</name>
        <lei>WHENKOULSSK7WUM60H03</lei>
        <title>Whirlpool Corp</title>
        <cusip>963320205</cusip>
        <identifiers>
          <isin value="US9633202059"/>
        </identifiers>
        <balance>2311.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>76840.75000000</valUSD>
        <pctVal>0.125022665933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wolfspeed Inc</name>
        <lei>549300OGU88P3AW3TO93</lei>
        <title>Wolfspeed Inc</title>
        <cusip>97785W106</cusip>
        <identifiers>
          <isin value="US97785W1062"/>
        </identifiers>
        <balance>3754.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>88669.48000000</valUSD>
        <pctVal>0.144268435387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="88669.48000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WORLD KINECT GROUP</name>
        <lei>D3W7PCXCBRQLL17DZ313</lei>
        <title>World Kinect Corp</title>
        <cusip>98149GAB6</cusip>
        <identifiers>
          <isin value="US98149GAB68"/>
        </identifiers>
        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>111768.00000000</valUSD>
        <pctVal>0.181850558799</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>World Kinect Corp.</name>
              <title>World Kinect Corp.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="981475106"/>
                <isin value="US9814751064"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="35.61030000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XOMETRY INC</name>
        <lei>5493006JFRGU7YRRXE44</lei>
        <title>Xometry Inc</title>
        <cusip>98423FAD1</cusip>
        <identifiers>
          <isin value="US98423FAD15"/>
        </identifiers>
        <balance>53000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>106742.00000000</valUSD>
        <pctVal>0.173673075901</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Xometry, Inc.</name>
              <title>Xometry, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="98423F109"/>
                <isin value="US98423F1093"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="21.24950000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street Global Advisors</name>
        <lei>5493008BJIBKQ5KTIF74</lei>
        <title>State Street Navigator Securities Lending Government Money Market Portfolio</title>
        <cusip>857509301</cusip>
        <identifiers>
          <isin value="US8575093013"/>
        </identifiers>
        <balance>3248612.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3248612.00000000</valUSD>
        <pctVal>5.285608649356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="3248612.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jazz Pharmaceuticals PLC</name>
        <lei>635400GAUMJCLEZRRV50</lei>
        <title>Jazz Pharmaceuticals PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00B4Q5ZN47"/>
        </identifiers>
        <balance>1156.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>292306.16000000</valUSD>
        <pctVal>0.475592643121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-08-18</ncom:dateSigned>
      <ncom:nameOfApplicant>Calamos ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Stephen Atkins</ncom:signature>
      <ncom:signerName>Stephen Atkins</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
