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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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      <invstOrSec>
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        <title>SPDR SERIES TRUST STATE STREET SPDR NUVEEN ICE MUNICIPAL BOND ETF</title>
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          <ticker value="TFI"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Voya Asia Pacific High Dividend Equity Income Fund</name>
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        <title>VOYA ASIA PACIFIC HIGH DIVIDEND EQUITY INCOME FUND</title>
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          <ticker value="IAE"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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        <title>PIMCO GLOBAL STOCKPLUS &amp; INCOME FUND COM</title>
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        <units>NS</units>
        <curCd>USD</curCd>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>ABERDEEN MULTI-MARKET INCOME FUND</name>
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        <title>ABERDEEN MULTI-MARKET INCOME FUND SH BEN INT</title>
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          <ticker value="MMT"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>MASTERBRAND INC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Western Asset High Income Opportunity Fund Inc.</name>
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        <title>Western Asset High Income Opportunity Fund Inc.</title>
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      <invstOrSec>
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      <invstOrSec>
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        <name>EATON VANCE TAX MANAGED GLOBAL BUY WRITE OPPORTUNITIES FUND</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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      <invstOrSec>
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        <lei>4PRDF8Q9TDHRVZKZSZ47</lei>
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        <curCd>USD</curCd>
        <valUSD>201949.44000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <derivativeInfo>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <identifiers>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-14416.29000000</valUSD>
        <pctVal>-0.05301202438</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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            <descRefInstrmnt>
              <otherRefInst>
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                  <isin value="US74982T1034"/>
                  <ticker value="RXO"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="-0.30000000" pmntAmt="24524.82000000">
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            <otherPmntDesc fixedOrFloating="Other">Equity - Performance Leg</otherPmntDesc>
            <terminationDt>2028-08-31</terminationDt>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES TRUST U.S. REAL ES ETF</title>
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        <identifiers>
          <isin value="US4642877397"/>
          <ticker value="IYR"/>
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        <balance>-194.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-19836.50000000</valUSD>
        <pctVal>-0.07294338707</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COHEN &amp; STEERS TOTAL RETURN REALTY FUND INC</name>
        <lei>GX4NWLLSAEWW78DPBS49</lei>
        <title>COHEN &amp; STEERS TOTAL RETURN REALTY FUND INC COM</title>
        <cusip>19247R103</cusip>
        <identifiers>
          <isin value="US19247R1032"/>
          <ticker value="RFI"/>
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        <balance>257.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2909.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <identifiers>
          <other otherDesc="INTERNAL" value="7504149"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-9115.12000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <derivativeInfo>
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            <descRefInstrmnt>
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                  <isin value="US16934Q8024"/>
                  <ticker value="CIM"/>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <curCd>USD</curCd>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <curCd>USD</curCd>
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      <invstOrSec>
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        <name>PUTNAM MUNICIPAL OPPORTUNITIES TRUST</name>
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        <title>PUTNAM MUNICIPAL OPPORTUNITIES TRUST SH BEN INT</title>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
        <name>ISHARES TRUST</name>
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        <title>ISHARES TRUST IBOXX HI YD ETF</title>
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          <ticker value="HYG"/>
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        <curCd>USD</curCd>
        <valUSD>-43423.71000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS INCYTE CORP</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DoubleLine Income Solutions Fund</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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      <invstOrSec>
        <name>BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND INC</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>BLACKROCK ENHANCED EQUITY DIVIDEND TRUST</name>
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          <ticker value="BDJ"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
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          <ticker value="PMM"/>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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          <ticker value="BWG"/>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>THE LONDON METAL EXCHANGE</name>
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      <invstOrSec>
        <name>BNY Mellon Strategic Municipals, Inc.</name>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <assetCat>DCO</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

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                <issueTitle>MILLICOM INTERNATIONAL CELLULAR SA COM STK</issueTitle>
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                  <isin value="LU0038705702"/>
                  <ticker value="TIGO"/>
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.00000000" pmntAmt="-65096.92000000">
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
            <unrealizedAppr>45104.66000000</unrealizedAppr>
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      <invstOrSec>
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        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>25333.34000000</valUSD>
        <pctVal>0.093156535963</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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                  <isin value="US12618T1051"/>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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      <invstOrSec>
        <name>SPDR SERIES TRUST</name>
        <lei>5493004JVD6CQEEJSS37</lei>
        <title>SPDR SERIES TRUST STATE STREET SPDR NUVEEN ICE HIGH YIELD MUNICIPAL BOND ETF</title>
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          <isin value="US78464A2841"/>
          <ticker value="HYMB"/>
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        <balance>-5522.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-140479.68000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MISSION PRODUCE INC</name>
        <lei>54930016JOKVFT59L825</lei>
        <title>MISSION PRODUCE INC COM</title>
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          <isin value="US60510V1089"/>
          <ticker value="AVO"/>
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        <balance>1790.59100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21111.07000000</valUSD>
        <pctVal>0.077630275032</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>KENVUE INC</name>
        <lei>5493008HSF8L4M2LIJ82</lei>
        <title>KENVUE INC COM</title>
        <cusip>49177J102</cusip>
        <identifiers>
          <isin value="US49177J1025"/>
          <ticker value="KVUE"/>
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        <balance>13737.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>262514.07000000</valUSD>
        <pctVal>0.965324801346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Flaherty &amp; Crumrine Dynamic Preferred &amp; Income Fund Inc</name>
        <lei>254900BPH613QBWQO237</lei>
        <title>Flaherty &amp; Crumrine Dynamic Preferred and Income Fund Incorporated</title>
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          <isin value="US33848W1062"/>
          <ticker value="DFP"/>
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        <balance>245.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5064.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ICE FUTURES U.S.</name>
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        <balance>-10.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-7167.20000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyLei>5493004R83R1LVX2IL36</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
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                <issuerName>SUGAR #11</issuerName>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <identifiers>
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        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <title>ISHARES TRUST MSCI AC ASIA ETF</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JOHN HANCOCK INCOME SECURITIES TRUST</name>
        <lei>549300RB36J7QSFLWG11</lei>
        <title>JOHN HANCOCK INCOME SECURITIES TRUST COM</title>
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        <fairValLevel>1</fairValLevel>
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        <name>COHEN &amp; STEERS REAL ESTATE OPPORTUNITIES AND INCOME FUND</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EATON VANCE SENIOR INCOME TRUST</name>
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        <title>EATON VANCE SENIOR INCOME TRUST SH BEN INT</title>
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          <ticker value="EVF"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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                  <ticker value="UTMD"/>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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                  <ticker value="IRM"/>
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        <name>CHICAGO MERCANTILE EXCHANGE</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>MORGAN STANLEY EMERGING MARKETS DEBT FUND INC</name>
        <lei>879N34XPZOOCKFD26737</lei>
        <title>MORGAN STANLEY EMERGING MARKETS DEBT FUND INC COM</title>
        <cusip>61744H105</cusip>
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          <isin value="US61744H1059"/>
          <ticker value="MSD"/>
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        <fairValLevel>1</fairValLevel>
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        <name>LIVE RAMP HOLDINGS INC</name>
        <lei>254900GXS75LG1X7RF88</lei>
        <title>LIVE RAMP HOLDINGS INC COM</title>
        <cusip>53815P108</cusip>
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          <isin value="US53815P1084"/>
          <ticker value="RAMP"/>
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        <balance>4162.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>156657.68000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES TRUST RUSSELL 2000 ETF</title>
        <cusip>464287655</cusip>
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          <isin value="US4642876555"/>
          <ticker value="IWM"/>
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        <balance>-280.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-84126.00000000</valUSD>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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      <invstOrSec>
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        <name>ABRDN LIFE SCIENCES INVESTORS</name>
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        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES TRUST MBS ETF</title>
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        <name>Western Asset Global High Income Fund Inc.</name>
        <lei>549300JWVV1XIQ66WD13</lei>
        <title>Western Asset Global High Income Fund Inc.</title>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS KENNAMETAL INC</title>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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            <swapFlag>Y</swapFlag>
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.40000000" pmntAmt="-45003.49000000">
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            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEUBERGER ENERGY INFRASTRUCTURE AND INCOME FUND INC</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
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        <assetCat>DIR</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EATON VANCE MANAGEMENT</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JOHN HANCOCK TAX-ADVANTAGED DIVIDEND INCOME FUND</name>
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        <title>JOHN HANCOCK TAX-ADVANTAGED DIVIDEND INCOME FUND COM</title>
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        <identifiers>
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          <ticker value="HTD"/>
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        <balance>114.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2905.86000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES TRUST MSCI EAFE ETF</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>COHEN &amp; STEERS CAPITAL MANAGEMENT INC</name>
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        <title>COHEN &amp; STEERS CAPITAL MANAGEMENT INC COM</title>
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          <ticker value="PTA"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>CHICAGO MERCANTILE EXCHANGE</name>
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        <lei>549300TPS2RTTJ8O3C08</lei>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GENERAL AMERICAN INVESTORS COMPANY INC</name>
        <lei>254900MHIF9G7IS1T951</lei>
        <title>GENERAL AMERICAN INVESTORS COMPANY INC COM</title>
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        <curCd>USD</curCd>
        <valUSD>30982.50000000</valUSD>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NUVEEN CREDIT STRATEGIES INCOME FUND</name>
        <lei>W4CSTD4RDGQSJ4FOVO30</lei>
        <title>NUVEEN CREDIT STRATEGIES INCOME FUND COM SHS</title>
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          <ticker value="JQC"/>
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        <balance>4229.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20552.94000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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        <lei>254900N1WG46G1VMDM34</lei>
        <title>NORTHWESTERN ENERGY GROUP INC COM NEW</title>
        <cusip>668074305</cusip>
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          <ticker value="NWE"/>
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        <balance>1335.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>95612.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CHICAGO MERCANTILE EXCHANGE</name>
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          <ticker value="LE V26"/>
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        <units>NC</units>
        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <name>MEXICO FUND INC</name>
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        <title>MEXICO FUND INC COM</title>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <name>Duff &amp; Phelps Utility &amp; Infrastructure Fund Inc.</name>
        <lei>549300SY2NYDO23RIE89</lei>
        <title>Duff &amp; Phelps Utility &amp; Infrastructure Fund Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Western Asset Investment Grade Opportunity Trust Inc.</name>
        <lei>549300V54JNCB3KS3P74</lei>
        <title>Western Asset Investment Grade Opportunity Trust Inc.</title>
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          <isin value="US95790A1016"/>
          <ticker value="IGI"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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                  <isin value="US9293281021"/>
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        <curCd>USD</curCd>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <expDate>2026-09-14</expDate>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>17162.73000000</valUSD>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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                <issueTitle>BORGWARNER INC COM</issueTitle>
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                  <isin value="US0997241064"/>
                  <ticker value="BWA"/>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>LIBERTY ALL-STAR GROWTH FUND INC</name>
        <lei>54930046Y8IF3CB2AL60</lei>
        <title>LIBERTY ALL-STAR GROWTH FUND INC COM</title>
        <cusip>529900102</cusip>
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          <isin value="US5299001025"/>
          <ticker value="ASG"/>
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        <balance>5818.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31824.46000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SANOFI SA - CVR</name>
        <lei>N/A</lei>
        <title>SANOFI SA - CVR</title>
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        <balance>2004.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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                  <isin value="US4131971040"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <fairValLevel>1</fairValLevel>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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      </invstOrSec>
      <invstOrSec>
        <name>FRANKLIN LTD DURATION INCOME TRUST</name>
        <lei>P58SM14RY02PYB0IA680</lei>
        <title>FRANKLIN LTD DURATION INCOME TRUST COM</title>
        <cusip>35472T101</cusip>
        <identifiers>
          <isin value="US35472T1016"/>
          <ticker value="FTF"/>
        </identifiers>
        <balance>864.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5002.56000000</valUSD>
        <pctVal>0.018395567286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE LONDON METAL EXCHANGE</name>
        <lei>213800NB8G5VRT1DXC91</lei>
        <title>Nickel TAR (Mean Cash) future (composite)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00H24T6N52"/>
          <ticker value="NI.MCD 26Q-LME"/>
          <other otherDesc="FIGI" value="BBG010S1XVN5"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>14064.43000000</valUSD>
        <pctVal>0.051718153986</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>THE LONDON METAL EXCHANGE</counterpartyName>
              <counterpartyLei>213800NB8G5VRT1DXC91</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>LME NICKEL</issuerName>
                <issueTitle>LME NICKEL</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <other otherDesc="INTERNAL" value="LMENICKEL"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-08-19</expDate>
            <notionalAmt>-111228.36000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>14064.43000000</unrealizedAppr>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>Japanese Yen Futures, Sep-2026,ETH</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="6J U26"/>
          <other otherDesc="FIGI" value="BBG012DD5Y74"/>
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        <balance>17.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-8321.16000000</valUSD>
        <pctVal>-0.03059882513</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CHICAGO MERCANTILE EXCHANGE</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
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                <issueTitle>JAPANESE YEN CURRENCY</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <other otherDesc="INTERNAL" value="JAPANESEYEN"/>
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            </descRefInstrmnt>
            <expDate>2026-09-14</expDate>
            <notionalAmt>1323271.16000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-8321.16000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS NORTHERN OIL &amp; GAS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7836165"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>11251.62000000</valUSD>
        <pctVal>0.041374802658</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>NORTHERN OIL &amp; GAS INC</issuerName>
                <issueTitle>NORTHERN OIL &amp; GAS INC COM</issueTitle>
                <identifiers>
                  <cusip value="665531307"/>
                  <isin value="US6655313079"/>
                  <ticker value="NOG"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="-0.30000000" pmntAmt="72420.45000000">
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                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
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            <otherPmntDesc fixedOrFloating="Other">Equity - Performance Leg</otherPmntDesc>
            <terminationDt>2028-08-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-72420.45000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>11251.62000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS ESSEX PROPERTY TRUST INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7836141"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1209.67000000</valUSD>
        <pctVal>-0.00444823567</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>ESSEX PROPERTY TRUST INC</issuerName>
                <issueTitle>ESSEX PROPERTY TRUST INC COM</issueTitle>
                <identifiers>
                  <cusip value="297178105"/>
                  <isin value="US2971781057"/>
                  <ticker value="ESS"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="-0.30000000" pmntAmt="30782.00000000">
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                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
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            <terminationDt>2028-08-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-30782.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1209.67000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS WEYERHAEUSER CO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7504774"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>15336.52000000</valUSD>
        <pctVal>0.056395922406</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>WEYERHAEUSER COMPANY</issuerName>
                <issueTitle>WEYERHAEUSER COMPANY COM NEW</issueTitle>
                <identifiers>
                  <cusip value="962166104"/>
                  <isin value="US9621661043"/>
                  <ticker value="WY"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="-0.30000000" pmntAmt="116334.27000000">
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                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
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            <terminationDt>2028-08-31</terminationDt>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
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            <notionalAmt>-116334.27000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>15336.52000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ABRDN AUSTRALIA EQUITY FUND INC</name>
        <lei>5493003SC25JJLM4UH12</lei>
        <title>ABRDN AUSTRALIA EQUITY FUND INC COM</title>
        <cusip>003011111</cusip>
        <identifiers>
          <isin value="US0030111118"/>
          <ticker value="IAF"/>
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        <balance>1546.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19139.48000000</valUSD>
        <pctVal>0.070380283726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS VIRTUS INVESTMENT PARTNERS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7836312"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2720.40000000</valUSD>
        <pctVal>0.010003538437</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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                  <cusip value="92828Q109"/>
                  <isin value="US92828Q1094"/>
                  <ticker value="VRTS"/>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="-0.30000000" pmntAmt="-503.00000000">
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            <curCd>USD</curCd>
            <unrealizedAppr>2720.40000000</unrealizedAppr>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NUVEEN CORE EQUITY ALPHA FUND</name>
        <lei>RXOICX8BWX0J6XOHJ530</lei>
        <title>NUVEEN CORE EQUITY ALPHA FUND COM</title>
        <cusip>67090X107</cusip>
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          <isin value="US67090X1072"/>
          <ticker value="JCE"/>
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        <balance>310.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <balance>1.00000000</balance>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <identifiers>
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        <balance>1.00000000</balance>
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        <assetCat>DE</assetCat>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TEMPLETON EMERGING MARKETS FUND INC</name>
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        <title>TEMPLETON EMERGING MARKETS FUND INC COM</title>
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          <ticker value="EMF"/>
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        <curCd>USD</curCd>
        <valUSD>30952.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Osaka Exchange,Inc</name>
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      <invstOrSec>
        <name>BLACKROCK CREDIT ALLOCATION INCOME TRUST</name>
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        <title>BLACKROCK CREDIT ALLOCATION INCOME TRUST COM</title>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
        <name>BNY Mellon Municipal Bond Infrastructure Fund, Inc.</name>
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        <title>BNY Mellon Municipal Bond Infrastructure Fund, Inc.</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ALLIANCEBERNSTEIN GLOBAL HIGH INCOME FUND INC</name>
        <lei>AE2ZT9UGMEIJ7T4R5734</lei>
        <title>ALLIANCEBERNSTEIN GLOBAL HIGH INCOME FUND INC COM</title>
        <cusip>01879R106</cusip>
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          <isin value="US01879R1068"/>
          <ticker value="AWF"/>
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        <invCountry>US</invCountry>
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        <name>HIGH INCOME SECURITIES FUND</name>
        <lei>25RM533JWPQG19PQ1G87</lei>
        <title>HIGH INCOME SECURITIES FUND SHS BEN INT</title>
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          <ticker value="PCF"/>
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      <invstOrSec>
        <name>Flaherty &amp; Crumrine Total Return Fund Inc</name>
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        <title>Flaherty &amp; Crumrine Total Return Fund Incorporated</title>
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          <isin value="US3384791089"/>
          <ticker value="FLC"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>ABERDEEN INDIA FUND INC</name>
        <lei>5493008XCB4X3JFQPB87</lei>
        <title>ABERDEEN INDIA FUND INC COM</title>
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          <ticker value="IFN"/>
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        <name>EATON VANCE LTD DURATION INCOME FUND</name>
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        <title>EATON VANCE LTD DURATION INCOME FUND COM</title>
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          <ticker value="EVV"/>
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        <name>BLACKROCK LTD DURATION INCOME TRUST</name>
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        <title>BLACKROCK LTD DURATION INCOME TRUST COM SHS</title>
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          <ticker value="BLW"/>
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        <fairValLevel>1</fairValLevel>
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        <name>DOMINION ENERGY INC</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>DOMINION ENERGY INC COM</title>
        <cusip>25746U109</cusip>
        <identifiers>
          <isin value="US25746U1097"/>
          <ticker value="D"/>
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        <balance>2262.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>154471.98000000</valUSD>
        <pctVal>0.568029109476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Western Asset Intermediate Muni Fund Inc.</name>
        <lei>5493000MG5MROBD48K57</lei>
        <title>Western Asset Intermediate Muni Fund Inc.</title>
        <cusip>958435109</cusip>
        <identifiers>
          <isin value="US9584351095"/>
          <ticker value="SBI"/>
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        <balance>639.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5028.93000000</valUSD>
        <pctVal>0.018492535860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EUREX Clearing Aktiengesellschaft</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>EURO STOXX 50 Index Futures(FESX) Index Fut</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000C757930"/>
          <ticker value="FESX U26-EUX"/>
          <other otherDesc="FIGI" value="BBG01JFBR1B2"/>
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        <balance>2.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87527352"/>
        <valUSD>175.75000000</valUSD>
        <pctVal>0.000646273298</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>EUREX Clearing Aktiengesellschaft</counterpartyName>
              <counterpartyLei>529900LN3S50JPU47S06</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>DEUTSCHE BORSE AKTIENGESELLSCHAFT</issuerName>
                <issueTitle>EURO STOXX 50</issueTitle>
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                  <cusip value="000000000"/>
                  <ticker value="SX5E"/>
                  <other otherDesc="INTERNAL" value="SX5E_INDEX_DE"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-09-18</expDate>
            <notionalAmt>145195.95000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>175.75000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VIRTUS CONVERTIBLE &amp; INCOME FUND II</name>
        <lei>549300VQWKOKLGOGUQ16</lei>
        <title>VIRTUS CONVERTIBLE &amp; INCOME FUND II COM NEW</title>
        <cusip>92838U801</cusip>
        <identifiers>
          <isin value="US92838U8018"/>
          <ticker value="NCZ"/>
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        <balance>134.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2130.60000000</valUSD>
        <pctVal>0.007834707761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WARNER BROS. DISCOVERY INC</name>
        <lei>5493006ZCRFWKF6B1K26</lei>
        <title>WARNER BROS. DISCOVERY INC COM SER A</title>
        <cusip>934423104</cusip>
        <identifiers>
          <isin value="US9344231041"/>
          <ticker value="WBD"/>
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        <balance>1045.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27859.70000000</valUSD>
        <pctVal>0.102446544553</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NUVALENT INC</name>
        <lei>N/A</lei>
        <title>NUVALENT INC COM</title>
        <cusip>670703107</cusip>
        <identifiers>
          <isin value="US6707031075"/>
          <ticker value="NUVL"/>
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        <balance>635.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>78422.50000000</valUSD>
        <pctVal>0.288377625753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VIRTUS CONVERTIBLE &amp; INCOME FUND</name>
        <lei>549300WT3ICVH2Z06O49</lei>
        <title>VIRTUS CONVERTIBLE &amp; INCOME FUND COM NEW</title>
        <cusip>92838X805</cusip>
        <identifiers>
          <isin value="US92838X8056"/>
          <ticker value="NCV"/>
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        <balance>122.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2145.98000000</valUSD>
        <pctVal>0.007891263569</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS FRONTIER GROUP HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7504065"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-8081.02000000</valUSD>
        <pctVal>-0.02971577495</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>FRONTIER GROUP HOLDINGS INC</issuerName>
                <issueTitle>FRONTIER GROUP HOLDINGS INC COM</issueTitle>
                <identifiers>
                  <cusip value="35909R108"/>
                  <isin value="US35909R1086"/>
                  <ticker value="ULCC"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="-0.30000000" pmntAmt="23450.49000000">
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            <terminationDt>2028-08-31</terminationDt>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
            <unrealizedAppr>-8081.02000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EATON VANCE RISK - MANAGED DIVERSIFIED EQUITY INCOME FUND</name>
        <lei>549300Y73VZSKBZ38790</lei>
        <title>EATON VANCE RISK - MANAGED DIVERSIFIED EQUITY INCOME FUND COM</title>
        <cusip>27829G106</cusip>
        <identifiers>
          <isin value="US27829G1067"/>
          <ticker value="ETJ"/>
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        <balance>604.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4995.08000000</valUSD>
        <pctVal>0.018368061600</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS CASELLA WASTE SYSTEMS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7504008"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-6480.83000000</valUSD>
        <pctVal>-0.02383150713</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
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                <issuerName>CASELLA WASTE SYSTEMS INC</issuerName>
                <issueTitle>CASELLA WASTE SYSTEMS INC CL A</issueTitle>
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                  <cusip value="147448104"/>
                  <isin value="US1474481041"/>
                  <ticker value="CWST"/>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.00000000" pmntAmt="114357.88000000">
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            <terminationDt>2028-08-31</terminationDt>
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            <unrealizedAppr>-6480.83000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS EDISON INTERNATIONAL</title>
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          <other otherDesc="INTERNAL" value="7662914"/>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2377.15000000</valUSD>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                <issuerName>EDISON INTERNATIONAL</issuerName>
                <issueTitle>EDISON INTERNATIONAL COM</issueTitle>
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                  <cusip value="281020107"/>
                  <isin value="US2810201077"/>
                  <ticker value="EIX"/>
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            <swapFlag>Y</swapFlag>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS CLEARWAY ENERGY INC</title>
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        <balance>1.00000000</balance>
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                  <ticker value="CWEN"/>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <name>TRUBRIDGE INC</name>
        <lei>5493005Q6CJC78TGL805</lei>
        <title>TRUBRIDGE INC COM</title>
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          <ticker value="TBRG"/>
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        <balance>6098.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS OGE ENERGY CORP</title>
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          <ticker value="SABA"/>
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        <name>EATON VANCE TAX MANAGED BUY WRITE OPPORTUNITIES FUND</name>
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      <invstOrSec>
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      <invstOrSec>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PIMCO DYNAMIC INCOME STRATEGY FUND</name>
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        <title>PIMCO DYNAMIC INCOME STRATEGY FUND COM SHS BEN INT</title>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>THE LONDON METAL EXCHANGE</name>
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        <title>Lead future (composite)</title>
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        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>NUVEEN MULTI-MARKET INCOME FUND</name>
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        <fairValLevel>1</fairValLevel>
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        <name>THE LONDON METAL EXCHANGE</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Western Asset Emerging Markets Debt Fund Inc.</name>
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        <title>Western Asset Emerging Markets Debt Fund Inc.</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EATON VANCE MUNICIPAL INCOME TRUST</name>
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        <title>EATON VANCE MUNICIPAL INCOME TRUST COM</title>
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          <isin value="US2782791048"/>
          <ticker value="EFT"/>
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        <balance>465.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES TRUST LATN AMER 40 ETF</title>
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          <isin value="US4642873909"/>
          <ticker value="ILF"/>
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        <balance>-202.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-6817.50000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMAZON.COM INC</name>
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        <title>AMAZON.COM INC COM</title>
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          <isin value="US0231351067"/>
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        <balance>-274.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-65305.16000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
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                  <ticker value="CCBG"/>
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      <invstOrSec>
        <name>THE LONDON METAL EXCHANGE</name>
        <lei>213800NB8G5VRT1DXC91</lei>
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          <isin value="GB00G89Q6788"/>
          <ticker value="AHD 26N-LME"/>
          <other otherDesc="FIGI" value="BBG00CMCLN71"/>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BLACKROCK INTERNATIONAL GROWTH AND INCOME TRUST</name>
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        <title>BLACKROCK INTERNATIONAL GROWTH AND INCOME TRUST COM BENE INTER</title>
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          <ticker value="BGY"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BLACKROCK MULTI-SECTOR INCOME TRUST</name>
        <lei>549300BOVTR6GS7HLC41</lei>
        <title>BLACKROCK MULTI-SECTOR INCOME TRUST COM</title>
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          <isin value="US09258A1079"/>
          <ticker value="BIT"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>ClearBridge Energy Midstream Opportunity Fund Inc.</name>
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        <title>ClearBridge Energy Midstream Opportunity Fund Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>SILA REALTY TRUST INC</name>
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        <title>SILA REALTY TRUST INC COMMON STOCK</title>
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        <fairValLevel>1</fairValLevel>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MFS GOVERNMENT MARKETS INCOME TRUST</name>
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                  <ticker value="AUPH"/>
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      <invstOrSec>
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                  <isin value="US3647601083"/>
                  <ticker value="GAP"/>
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            <swapFlag>Y</swapFlag>
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.00000000" pmntAmt="-35796.26000000">
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <balance>1.00000000</balance>
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        <valUSD>-5589.92000000</valUSD>
        <pctVal>-0.02055542551</pctVal>
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        <invCountry>US</invCountry>
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                  <ticker value="BCPC"/>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
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            <curCd>USD</curCd>
            <unrealizedAppr>-5589.92000000</unrealizedAppr>
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      <invstOrSec>
        <name>SEVEN HILLS REALTY TRUST</name>
        <lei>549300ESBDZ3SA3OEX38</lei>
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          <ticker value="SEVN"/>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>NUVEEN S&amp;P 500 DYNAMIC OVERWRITE FUND</name>
        <lei>549300OISXORNCZINQ77</lei>
        <title>NUVEEN S&amp;P 500 DYNAMIC OVERWRITE FUND COM</title>
        <cusip>6706EW100</cusip>
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          <ticker value="SPXX"/>
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        <curCd>USD</curCd>
        <valUSD>34353.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
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        <cusip>000000000</cusip>
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          <ticker value="6N U26"/>
          <other otherDesc="FIGI" value="BBG01SSQ45X7"/>
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        <balance>2.00000000</balance>
        <units>NC</units>
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        <valUSD>-1200.10000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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      <invstOrSec>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>THE LONDON METAL EXCHANGE</counterpartyName>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <balance>1.00000000</balance>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <unrealizedAppr>8387.92000000</unrealizedAppr>
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      <invstOrSec>
        <name>TXNM ENERGY INC</name>
        <lei>5493003JOBJGLZSDDQ28</lei>
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          <isin value="US69349H1077"/>
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        <curCd>USD</curCd>
        <valUSD>229561.54000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3847.90000000</valUSD>
        <pctVal>-0.01414961606</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
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                <issueTitle>PATHWARD FINANCIAL INC COM</issueTitle>
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                  <isin value="US59100U1088"/>
                  <ticker value="CASH"/>
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            <swapFlag>Y</swapFlag>
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.00000000" pmntAmt="-77451.30000000">
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            <curCd>USD</curCd>
            <unrealizedAppr>-3847.90000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EATON VANCE SENIOR FLOATING RATE TRUST</name>
        <lei>VJXUJZ1EC079NQ236240</lei>
        <title>EATON VANCE SENIOR FLOATING RATE TRUST COM</title>
        <cusip>27828Q105</cusip>
        <identifiers>
          <isin value="US27828Q1058"/>
          <ticker value="EFR"/>
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        <balance>3225.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34185.00000000</valUSD>
        <pctVal>0.125706131995</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EATON VANCE ENHANCED EQUITY INCOME FUND II</name>
        <lei>549300N6ZBLPLGA31U67</lei>
        <title>EATON VANCE ENHANCED EQUITY INCOME FUND II COM</title>
        <cusip>278277108</cusip>
        <identifiers>
          <isin value="US2782771081"/>
          <ticker value="EOS"/>
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        <balance>227.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5003.08000000</valUSD>
        <pctVal>0.018397479446</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS AZZ INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7504348"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>31155.48000000</valUSD>
        <pctVal>0.114565887999</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                <issueTitle>AZZ INC COM</issueTitle>
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                  <cusip value="002474104"/>
                  <isin value="US0024741045"/>
                  <ticker value="AZZ"/>
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            <swapFlag>Y</swapFlag>
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.40000000" pmntAmt="-85903.77000000">
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            <upfrontRcpt>0.00000000</upfrontRcpt>
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            <curCd>USD</curCd>
            <unrealizedAppr>31155.48000000</unrealizedAppr>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                  <isin value="BMG7496G1033"/>
                  <ticker value="RNR"/>
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            <swapFlag>Y</swapFlag>
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.00000000" pmntAmt="-96523.25000000">
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
            <unrealizedAppr>21143.77000000</unrealizedAppr>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <curCd>USD</curCd>
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                  <ticker value="THC"/>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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      <invstOrSec>
        <name>BLACKROCK ENERGY &amp; RESOURCES TRUST</name>
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          <isin value="US09250U1016"/>
          <ticker value="BGR"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND INC</name>
        <lei>549300GRTFKXVB9LQE61</lei>
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          <isin value="US64133Q1085"/>
          <ticker value="NBXG"/>
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        <balance>2039.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>iShares Trust</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>iShares Core High Dividend ETF</title>
        <cusip>46429B663</cusip>
        <identifiers>
          <isin value="US46429B6636"/>
          <ticker value="HDV"/>
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        <balance>-471.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALLSPRING UTILITIES AND HIGH INCOME FUND</name>
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          <ticker value="ERH"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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          <ticker value="PNI"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
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        <name>Western Asset Inflation-Linked Opportunities &amp; Income Fund</name>
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        <assetCat>EC</assetCat>
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        <name>ANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUST</name>
        <lei>549300BL3JQL47QYUO51</lei>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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        <name>Virtus Global Multi-Sector Income Fund</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
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      <invstOrSec>
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        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <curCd>USD</curCd>
        <valUSD>-24995.80000000</valUSD>
        <pctVal>-0.09191532350</pctVal>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                <issueTitle>GEO GROUP INC (THE) COM</issueTitle>
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            <terminationDt>2028-08-31</terminationDt>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-39056.98000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-24995.80000000</unrealizedAppr>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS DREAM FINDERS HOMES INC</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="7737532"/>
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        <curCd>USD</curCd>
        <valUSD>-16460.35000000</valUSD>
        <pctVal>-0.06052850460</pctVal>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
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                <issueTitle>DREAM FINDERS HOMES INC COM CL A</issueTitle>
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                  <isin value="US26154D1000"/>
                  <ticker value="DFH"/>
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            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="-0.00300000" pmntAmt="79842.77000000">
              <rtResetTenors>
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            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-79842.77000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-16460.35000000</unrealizedAppr>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>JOHN HANCOCK PREMIUM DIVIDEND FUND</name>
        <lei>549300HU07GPOB5DR949</lei>
        <title>JOHN HANCOCK PREMIUM DIVIDEND FUND COM SH BEN INT</title>
        <cusip>41013T105</cusip>
        <identifiers>
          <isin value="US41013T1051"/>
          <ticker value="PDT"/>
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        <balance>225.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2913.75000000</valUSD>
        <pctVal>0.010714530996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS BANK OZK</title>
        <cusip>000000000</cusip>
        <identifiers>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5287.39000000</valUSD>
        <pctVal>0.019442952910</pctVal>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
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            <descRefInstrmnt>
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                <issueTitle>BANK OZK COM</issueTitle>
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                  <cusip value="06417N103"/>
                  <isin value="US06417N1037"/>
                  <ticker value="OZK"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Equity - Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.00000000" pmntAmt="-55412.08000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="0"/>
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            <terminationDt>2028-08-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>55412.08000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>5287.39000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS DOUGLAS DYNAMICS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7835865"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>6632.04000000</valUSD>
        <pctVal>0.024387541191</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>DOUGLAS DYNAMICS INC</issuerName>
                <issueTitle>DOUGLAS DYNAMICS INC COM</issueTitle>
                <identifiers>
                  <cusip value="25960R105"/>
                  <isin value="US25960R1059"/>
                  <ticker value="PLOW"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.00000000" pmntAmt="-31951.74000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="0"/>
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            </floatingPmntDesc>
            <terminationDt>2028-08-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>31951.74000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>6632.04000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS GENERAL MOTORS CO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7504549"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-875.40000000</valUSD>
        <pctVal>-0.00321904776</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GENERAL MOTORS COMPANY</issuerName>
                <issueTitle>GENERAL MOTORS COMPANY COM</issueTitle>
                <identifiers>
                  <cusip value="37045V100"/>
                  <isin value="US37045V1008"/>
                  <ticker value="GM"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Equity - Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.40000000" pmntAmt="-36023.17000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
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            <terminationDt>2028-08-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>36023.17000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-875.40000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7540436"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2967.72000000</valUSD>
        <pctVal>0.010912991137</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
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            <descRefInstrmnt>
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                <issueTitle>MEDIFAST INC COM</issueTitle>
                <identifiers>
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                  <isin value="US58470H1014"/>
                  <ticker value="MED"/>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="-0.30000000" pmntAmt="49294.97000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
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            <otherPmntDesc fixedOrFloating="Other">Equity - Performance Leg</otherPmntDesc>
            <terminationDt>2028-08-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-49294.97000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>2967.72000000</unrealizedAppr>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BLACKROCK HEALTH SCIENCES TERM TRUST</name>
        <lei>549300FGMK4EGHSK8N86</lei>
        <title>BLACKROCK HEALTH SCIENCES TERM TRUST COM SHS</title>
        <cusip>09260E105</cusip>
        <identifiers>
          <isin value="US09260E1055"/>
          <ticker value="BMEZ"/>
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        <balance>1445.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22180.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>Mexican Peso Futures</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="6M U26"/>
          <other otherDesc="FIGI" value="BBG01S84D9V2"/>
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        <balance>3.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-173.90000000</valUSD>
        <pctVal>-0.00063947042</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS REDWOOD TRUST INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7504753"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>7537.40000000</valUSD>
        <pctVal>0.027716758791</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
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            <descRefInstrmnt>
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                <issueTitle>REDWOOD TRUST INC COM</issueTitle>
                <identifiers>
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                  <isin value="US7580754023"/>
                  <ticker value="RWT"/>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.40000000" pmntAmt="62872.33000000">
              <rtResetTenors>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
            <unrealizedAppr>7537.40000000</unrealizedAppr>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DIGITALBRIDGE GROUP INC</name>
        <lei>549300XG87L902AGBO89</lei>
        <title>DIGITALBRIDGE GROUP INC CL A NEW</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <curCd>USD</curCd>
        <valUSD>2125.89000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <name>COHEN &amp; STEERS LTD DURATION PREFERRED AND INCOME FUND INC</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CLOUGH GLOBAL DIVIDEND AND INCOME FUND</name>
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        <valUSD>2416.96000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>First Trust Enhanced Equity Income Fund</name>
        <lei>549300FW1TTV8W8GAV91</lei>
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          <ticker value="FFA"/>
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        <balance>223.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4986.28000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <units>NC</units>
        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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          <ticker value="HYT"/>
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        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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          <ticker value="BGH"/>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>QORVO INC</name>
        <lei>254900YAUJV2EUEVBR11</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Bancroft Fund Ltd</name>
        <lei>5493000X4Y1FB4G26P45</lei>
        <title>Bancroft Fund Ltd</title>
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          <isin value="US0596951063"/>
          <ticker value="BCV"/>
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        <balance>1173.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>NUVEEN FLOATING RATE INCOME FUND</name>
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        <title>NUVEEN FLOATING RATE INCOME FUND COM</title>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST</name>
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        <title>Lead future (composite)</title>
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        <title>ROKU INC COM CL A</title>
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      <invstOrSec>
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.00000000" pmntAmt="-38885.72000000">
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            <unrealizedAppr>20855.98000000</unrealizedAppr>
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      <invstOrSec>
        <name>ARES DYNAMIC CREDIT ALLOCATION FUND INC</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>EUREX Clearing Aktiengesellschaft</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS NATIONAL FUEL GAS CO</title>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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                  <isin value="US3635761097"/>
                  <ticker value="AJG"/>
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            <swapFlag>Y</swapFlag>
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              <rtResetTenors>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <identifiers>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Equity - Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.40000000" pmntAmt="-95861.43000000">
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            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
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      <invstOrSec>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.40000000" pmntAmt="-86428.12000000">
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.40000000" pmntAmt="-40798.89000000">
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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      <invstOrSec>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <title>ISHARES TRUST 7-10 YEAR TREASURY BOND ETF</title>
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      <invstOrSec>
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        <name>EATON VANCE TAX ADVANTAGED GLOBAL DIVIDEND OPPORTUNITIES FUND</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <curCd>USD</curCd>
        <valUSD>-1080.88000000</valUSD>
        <pctVal>-0.00397464513</pctVal>
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        <fairValLevel>2</fairValLevel>
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                  <isin value="US3596641098"/>
                  <ticker value="FLGT"/>
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            <curCd>USD</curCd>
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      <invstOrSec>
        <name>Ellsworth Growth &amp; Income Fund Ltd</name>
        <lei>549300GYFOXHCDQTI772</lei>
        <title>Ellsworth Growth &amp; Income Fund Ltd</title>
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          <isin value="US2890741067"/>
          <ticker value="ECF"/>
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        <balance>2296.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30330.16000000</valUSD>
        <pctVal>0.111530995945</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SKYWORKS SOLUTIONS INC</name>
        <lei>549300WZ3ORQ2BVKBD96</lei>
        <title>SKYWORKS SOLUTIONS INC COM</title>
        <cusip>83088M102</cusip>
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          <isin value="US83088M1027"/>
          <ticker value="SWKS"/>
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        <balance>-874.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-59257.20000000</valUSD>
        <pctVal>-0.21790239592</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Western Asset Premier Bond Fund</name>
        <lei>5493007UP8PFRNTX0546</lei>
        <title>Western Asset Premier Bond Fund</title>
        <cusip>957664105</cusip>
        <identifiers>
          <isin value="US9576641057"/>
          <ticker value="WEA"/>
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        <balance>404.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4302.60000000</valUSD>
        <pctVal>0.015821652874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ORGANON &amp; COMPANY</name>
        <lei>549300AMCKY57OK2CO56</lei>
        <title>ORGANON &amp; COMPANY COMMON STOCK</title>
        <cusip>68622V106</cusip>
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          <isin value="US68622V1061"/>
          <ticker value="OGN"/>
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        <balance>17494.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>236868.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS WHITE MOUNTAINS INSURANCE GROUP LTD</title>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-861.20000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <descRefInstrmnt>
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                  <cusip value="000000000"/>
                  <isin value="BMG9618E1075"/>
                  <ticker value="WTM"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Equity - Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.00400000" pmntAmt="-37914.63000000">
              <rtResetTenors>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
            <unrealizedAppr>-861.20000000</unrealizedAppr>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <identifiers>
          <other otherDesc="INTERNAL" value="7737529"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1401.82000000</valUSD>
        <pctVal>0.005154815561</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
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                <issueTitle>KKR &amp; CO. INC COM</issueTitle>
                <identifiers>
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                  <isin value="US48251W1045"/>
                  <ticker value="KKR"/>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="-0.00300000" pmntAmt="91480.16000000">
              <rtResetTenors>
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            <otherPmntDesc fixedOrFloating="Other">Equity - Performance Leg</otherPmntDesc>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <identifiers>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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                  <isin value="US71880K1016"/>
                  <ticker value="PHIN"/>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Equity - Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.00400000" pmntAmt="-32474.60000000">
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            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <identifiers>
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        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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                  <isin value="US8870981011"/>
                  <ticker value="TSBK"/>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Equity - Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.00000000" pmntAmt="-62842.84000000">
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        <name>EUREX Clearing Aktiengesellschaft</name>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW YORK MERCANTILE EXCHANGE</name>
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        <assetCat>DCO</assetCat>
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      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES TRUST AGENCY BOND ETF</title>
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        <assetCat>EC</assetCat>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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      <invstOrSec>
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        <title>SPDR SERIES TRUST STATE STREET SPDR BLOOMBERG CONVERTIBLE SECURITIES ETF</title>
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          <ticker value="CWB"/>
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        <fairValLevel>1</fairValLevel>
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        <name>RIVERNORTH MANAGED DURATION MUNICIPAL INCOME FUND II INC</name>
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          <isin value="US76882M1045"/>
          <ticker value="RMMZ"/>
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        <curCd>USD</curCd>
        <valUSD>3579.52000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <ticker value="USA"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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        <cusip>09253N104</cusip>
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          <ticker value="MHD"/>
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        <balance>428.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Gabelli Global Small &amp; Mid Cap Value Trust</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BLACKROCK RESOURCES &amp; COMMODITIES STRATEGY TRUST</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>THE LONDON METAL EXCHANGE</name>
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      <invstOrSec>
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        <lei>N/A</lei>
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      <invstOrSec>
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      <invstOrSec>
        <name>EATON VANCE ENHANCED EQUITY INCOME FUND</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
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      <invstOrSec>
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        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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                  <isin value="US2788651006"/>
                  <ticker value="ECL"/>
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            <swapFlag>Y</swapFlag>
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              <rtResetTenors>
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            <otherPmntDesc fixedOrFloating="Other">Equity - Performance Leg</otherPmntDesc>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE</name>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2949.45000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
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            <counterparties>
              <counterpartyName>CHICAGO MERCANTILE EXCHANGE</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
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            <descRefInstrmnt>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <derivativeInfo>
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            <descRefInstrmnt>
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                  <isin value="US0530151036"/>
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      <invstOrSec>
        <name>BLACKROCK MUNICIPAL 2020 TERM TRUST</name>
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          <ticker value="BTT"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ISHARES TRUST</name>
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          <isin value="US4642871762"/>
          <ticker value="TIP"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
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      <invstOrSec>
        <name>ABRDN EMERGING MARKETS EX CHINA FUND INC</name>
        <lei>549300MSYUW07RYUZD27</lei>
        <title>ABRDN EMERGING MARKETS EX CHINA FUND INC COM</title>
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          <ticker value="AEF"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5068.80000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ABRDN NATIONAL MUNICIPAL INCOME FUND</name>
        <lei>NIC7ULNUGCUI836YP119</lei>
        <title>Delaware Investments National Municipal Income Fund</title>
        <cusip>24610T108</cusip>
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          <ticker value="VFL"/>
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        <balance>1904.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19744.48000000</valUSD>
        <pctVal>0.072605008309</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS UGI CORP</title>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2212.22000000</valUSD>
        <pctVal>0.008134843332</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
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            <descRefInstrmnt>
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                <issueTitle>UGI CORP COM</issueTitle>
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                  <isin value="US9026811052"/>
                  <ticker value="UGI"/>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Equity - Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.40000000" pmntAmt="-20189.75000000">
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>20189.75000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>2212.22000000</unrealizedAppr>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS DUTCH BROS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7836182"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-10449.33000000</valUSD>
        <pctVal>-0.03842459722</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
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                <issueTitle>DUTCH BROS INC CL A</issueTitle>
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                  <isin value="US26701L1008"/>
                  <ticker value="BROS"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="-0.30000000" pmntAmt="-638.00000000">
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                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="0"/>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-35280.70000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-10449.33000000</unrealizedAppr>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NUVEEN CORE PLUS IMPACT FUND</name>
        <lei>549300N1H1AJ1P7VEI64</lei>
        <title>NUVEEN CORE PLUS IMPACT FUND COM BEN INT</title>
        <cusip>67080D103</cusip>
        <identifiers>
          <isin value="US67080D1037"/>
          <ticker value="NPCT"/>
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        <balance>500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5065.00000000</valUSD>
        <pctVal>0.018625173571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS BRT APARTMENTS CORP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7836156"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-4513.64000000</valUSD>
        <pctVal>-0.01659769564</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
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                <issueTitle>BRT APARTMENT CORP COM</issueTitle>
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                  <isin value="US0556453035"/>
                  <ticker value="BRT"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="-0.30000000" pmntAmt="50285.48000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
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            <otherPmntDesc fixedOrFloating="Other">Equity - Performance Leg</otherPmntDesc>
            <terminationDt>2028-08-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-50285.48000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-4513.64000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS INGLES MARKETS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7663414"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>945.94000000</valUSD>
        <pctVal>0.003478439622</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
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              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
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                <issueTitle>INGLES MARKETS INC CL A</issueTitle>
                <identifiers>
                  <cusip value="457030104"/>
                  <isin value="US4570301048"/>
                  <ticker value="IMKTA"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Equity - Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.40000000" pmntAmt="-42953.42000000">
              <rtResetTenors>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>42953.42000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>945.94000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS REGENERON PHARMACEUTICALS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7504777"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>277.18000000</valUSD>
        <pctVal>0.001019254809</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
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            <descRefInstrmnt>
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                <issueTitle>REGENERON PHARMACEUTICALS INC COM</issueTitle>
                <identifiers>
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                  <isin value="US75886F1075"/>
                  <ticker value="REGN"/>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Equity - Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.40000000" pmntAmt="-104179.64000000">
              <rtResetTenors>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>104179.64000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>277.18000000</unrealizedAppr>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WESTERN MIDSTREAM PARTNERS LP</name>
        <lei>N/A</lei>
        <title>WESTERN MIDSTREAM PARTNERS LP COM UNIT LP INT</title>
        <cusip>958669103</cusip>
        <identifiers>
          <isin value="US9586691035"/>
          <ticker value="WES"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43.76000000</valUSD>
        <pctVal>0.000160915616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS FIRST FINANCIAL BANCORP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7835414"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>11089.31000000</valUSD>
        <pctVal>0.040777951341</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
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            <descRefInstrmnt>
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                  <isin value="US3202091092"/>
                  <ticker value="FFBC"/>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.00000000" pmntAmt="-106161.25000000">
              <rtResetTenors>
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            <curCd>USD</curCd>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Gabelli Healthcare &amp; WellnessRx Trust</name>
        <lei>549300XULWZNLHFTG832</lei>
        <title>Gabelli Healthcare &amp; WellnessRx Trust</title>
        <cusip>36246K103</cusip>
        <identifiers>
          <isin value="US36246K1034"/>
          <ticker value="GRX"/>
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        <balance>236.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2230.20000000</valUSD>
        <pctVal>0.008200959940</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS BOEING CO/THE</title>
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        <identifiers>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-957.80000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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                  <isin value="US0970231058"/>
                  <ticker value="BA"/>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="0.00000000" pmntAmt="51026.70000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="0"/>
              </rtResetTenors>
            </floatingRecDesc>
            <otherPmntDesc fixedOrFloating="Other">Equity - Performance Leg</otherPmntDesc>
            <terminationDt>2028-08-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-51026.70000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-957.80000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK MERCANTILE EXCHANGE</name>
        <lei>5493008GFNDTXFPHWI47</lei>
        <title>Henry Hub Natural Gas Futures, Aug-2026,ETH</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="NG Q26"/>
          <other otherDesc="FIGI" value="BBG005N1T062"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>247.35000000</valUSD>
        <pctVal>0.000909563017</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>NEW YORK MERCANTILE EXCHANGE</counterpartyName>
              <counterpartyLei>5493008GFNDTXFPHWI47</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>NATURAL GAS</issuerName>
                <issueTitle>NATURAL GAS</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <ticker value="NGUSHHUB"/>
                  <other otherDesc="INTERNAL" value="NATURALGAS1"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-07-29</expDate>
            <notionalAmt>32332.65000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>247.35000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Guggenheim Strategy Funds Trust</name>
        <lei>5493007THUTJ3GMETL84</lei>
        <title>Guggenheim Strategy Fund III</title>
        <cusip>40168Q304</cusip>
        <identifiers>
          <isin value="US40168Q3048"/>
          <ticker value="GFSCX"/>
        </identifiers>
        <balance>99248.87100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2460379.51000000</valUSD>
        <pctVal>9.047383104939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>TRS AMERICAN TOWER CORP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="7598367"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>10211.05000000</valUSD>
        <pctVal>0.037548386693</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>AMERICAN TOWER CORP</issuerName>
                <issueTitle>AMERICAN TOWER CORP COM</issueTitle>
                <identifiers>
                  <cusip value="03027X100"/>
                  <isin value="US03027X1000"/>
                  <ticker value="AMT"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 DAY OVERNIGHT FEDS FUNDS EFFECTIVE RATE" floatingRtSpread="-0.30000000" pmntAmt="101784.42000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingRecDesc>
            <otherPmntDesc fixedOrFloating="Other">Equity - Performance Leg</otherPmntDesc>
            <terminationDt>2028-08-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-101784.42000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>10211.05000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE LONDON METAL EXCHANGE</name>
        <lei>213800NB8G5VRT1DXC91</lei>
        <title>LME ZINC FUTURE JUL26</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00H24RWS68"/>
          <ticker value="ZSD 26N-LME"/>
          <other otherDesc="FIGI" value="BBG00ZWWYCG5"/>
        </identifiers>
        <balance>-2.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1047.87000000</valUSD>
        <pctVal>-0.00385325974</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>THE LONDON METAL EXCHANGE</counterpartyName>
              <counterpartyLei>213800NB8G5VRT1DXC91</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>LME ZINC</issuerName>
                <issueTitle>LME ZINC</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <other otherDesc="INTERNAL" value="LMEZINC1"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-07-15</expDate>
            <notionalAmt>-177785.25000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1047.87000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Western Asset Diversified Income Fund</name>
        <lei>549300M67UHXW4GHZ644</lei>
        <title>Western Asset Diversified Income Fund</title>
        <cusip>95790K109</cusip>
        <identifiers>
          <isin value="US95790K1097"/>
          <ticker value="WDI"/>
        </identifiers>
        <balance>215.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2915.40000000</valUSD>
        <pctVal>0.010720598426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PENUMBRA INC</name>
        <lei>549300RGE06P3ECANU72</lei>
        <title>PENUMBRA INC COM</title>
        <cusip>70975L107</cusip>
        <identifiers>
          <isin value="US70975L1070"/>
          <ticker value="PEN"/>
        </identifiers>
        <balance>233.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>73569.75000000</valUSD>
        <pctVal>0.270532944401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PGIM Global High Yield Fund, Inc.</name>
        <lei>F0ATD1Y4J8CHDKHSLD09</lei>
        <title>PGIM Global High Yield Fund, Inc.</title>
        <cusip>69346J106</cusip>
        <identifiers>
          <isin value="US69346J1060"/>
          <ticker value="GHY"/>
        </identifiers>
        <balance>177.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2141.70000000</valUSD>
        <pctVal>0.007875525022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Western Asset Mortgage Opportunity Fund Inc.</name>
        <lei>549300COBGR840ANRS47</lei>
        <title>Western Asset Mortgage Opportunity Fund Inc.</title>
        <cusip>95790B109</cusip>
        <identifiers>
          <isin value="US95790B1098"/>
          <ticker value="DMO"/>
        </identifiers>
        <balance>272.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2913.12000000</valUSD>
        <pctVal>0.010712214340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </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>2026-08-21</ncom:dateSigned>
      <ncom:nameOfApplicant>Rydex Variable Trust</ncom:nameOfApplicant>
      <ncom:signature>James Howley</ncom:signature>
      <ncom:signerName>James Howley</ncom:signerName>
      <ncom:title>Chief Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
