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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Appreciate Holdings Inc</name>
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        <name>ASSUREDPARTNERS, INC.</name>
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        <name>ASSUREDPARTNERS, INC.</name>
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        <name>Avidxchange Holdings Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BLACK DIAMOND CLO LTD.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>BLUEPRINT MEDICINES CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BOOST NEWCO BORROWER, LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CERo Therapeutics Holdings Inc</name>
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        <name>CHEVRON CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>GUILD HOLDINGS COMPANY</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HESS CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>HEWLETT PACKARD ENTERPRISE COMPANY</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>HEWLETT PACKARD ENTERPRISE CO 5.600000% 10/15/2054</title>
        <cusip>42824CBW8</cusip>
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          <isin value="US42824CBW82"/>
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        <balance>13598000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Informatica Inc</name>
        <lei>984500E0DEFFE6DE9588</lei>
        <title>INFORMATICA INC - CLASS A COMMON STOCK</title>
        <cusip>45674M101</cusip>
        <identifiers>
          <isin value="US45674M1018"/>
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        <balance>679130.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16536815.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>INNERGEX ENERGIE RENOUVELABLE INC.</name>
        <lei>549300EORYEC4J59SU80</lei>
        <title>INNERGEX RENEWABLE ENERGY COMMON STOCK</title>
        <cusip>45790B104</cusip>
        <identifiers>
          <isin value="CA45790B1040"/>
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        <balance>3115447.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.36450000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>INTEGRATED RAIL AND RESOURCES ACQUISITION CORP WT</name>
        <lei>N/A</lei>
        <title>INTEGRATED RAIL AND RESOURCES ACQUISITION CORP WT EXPIRATION: 11/12/26</title>
        <cusip>45827R114</cusip>
        <identifiers>
          <ticker value="IRRXW"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>88297.20000000</valUSD>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="WAR">
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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            <shareNo>147162.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>76153.10000000</unrealizedAppr>
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      <invstOrSec>
        <name>UNITED FIRST PARTNERS</name>
        <lei>N/A</lei>
        <title>JNPR US 11/21/25 C37 SHORT</title>
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          <ticker value="JNPR US 11/21/25 C37 Equity"/>
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        <curCd>USD</curCd>
        <valUSD>-3000000.00000000</valUSD>
        <pctVal>-0.27332883701</pctVal>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>UNITED FIRST PARTNERS</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
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            <delta>XXXX</delta>
            <unrealizedAppr>-1565000.00000000</unrealizedAppr>
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      <invstOrSec>
        <name>UNITED FIRST PARTNERS</name>
        <lei>N/A</lei>
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          <ticker value="JNPR US 11/21/25 P30 Equity"/>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
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              <counterpartyName>UNITED FIRST PARTNERS</counterpartyName>
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            <writtenOrPur>Written</writtenOrPur>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>UNITED FIRST PARTNERS</name>
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          <ticker value="JNPR US 11/21/25 P35 Equity"/>
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        <balance>10000.00000000</balance>
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            <putOrCall>Put</putOrCall>
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            <unrealizedAppr>-665000.00000000</unrealizedAppr>
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      <invstOrSec>
        <name>JUNIPER NETWORKS INC</name>
        <lei>N/A</lei>
        <title>JUNIPER NETWORKS INC COMMON STOCK</title>
        <cusip>48203R104</cusip>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>Just Eat Takeaway.com N.V.</name>
        <lei>724500FVZIBSSQ7SHI95</lei>
        <title>JUST EAT TAKEAWAY COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0012015705"/>
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        <balance>467654.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KELLANOVA</name>
        <lei>LONOZNOJYIBXOHXWDB86</lei>
        <title>KELLANOVA COMMON STOCK</title>
        <cusip>487836108</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>LightWave Acquisition Corp</name>
        <lei>N/A</lei>
        <title>LIGHTWAVE ACQUISITION CORP UNIT</title>
        <cusip>G5490M118</cusip>
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          <isin value="KYG5490M1188"/>
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        <balance>100000.00000000</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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      <invstOrSec>
        <name>MCGRATH RENTCORP</name>
        <lei>N/A</lei>
        <title>MCGRATH RENTCORP COMMON STOCK</title>
        <cusip>580589109</cusip>
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          <isin value="US5805891091"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>MCGRATH RENTCORP</name>
        <lei>N/A</lei>
        <title>MCGRATH RENTCORP COMMON STOCK</title>
        <cusip>580589109</cusip>
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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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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEWARK BSL CLO LTD</name>
        <lei>N/A</lei>
        <title>NEWARK BSL CLO 1 LTD NBCLO 2016-1A A1R</title>
        <cusip>65023TAJ1</cusip>
        <identifiers>
          <isin value="US65023TAJ16"/>
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        <balance>653518.24360000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>653779.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NOVARTIS AG - CVR</name>
        <lei>N/A</lei>
        <title>NOVARTIS AG - CVR 1 SHARE OF 66987VCVR AND 40 USD PER KDNY</title>
        <cusip>N/A</cusip>
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          <other otherDesc="All Others" value="6698CVRRT"/>
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        <balance>268873.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PARKLAND CORPORATION.</name>
        <lei>549300UY5C6HUV0XLS53</lei>
        <title>PARKLAND CORP COMMON STOCK</title>
        <cusip>70137W108</cusip>
        <identifiers>
          <isin value="CA70137W1086"/>
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        <balance>394470.00000000</balance>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>RADIUS RECYCLING, INC.</name>
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          <isin value="US8068821060"/>
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        <balance>1107360.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32877518.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>SARATOGA INVESTMENT CORP SENIOR LOAN FUND LTD</name>
        <lei>N/A</lei>
        <title>SARATOGA INVESTMENT CORP SENIOR LOAN FUND 2022-1 L SARAT 2022-1A A2</title>
        <cusip>80349PAC0</cusip>
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          <isin value="US80349PAC05"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5009500.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-20</maturityDt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SITIO ROYALTIES CORP.</name>
        <lei>N/A</lei>
        <title>SITIO ROYALTIES CORP-A COMMON STOCK</title>
        <cusip>82983N108</cusip>
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          <isin value="US82983N1081"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <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>SKECHERS U.S.A., INC.</name>
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        <title>SKECHERS USA INC-CL A COMMON STOCK</title>
        <cusip>830566105</cusip>
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          <isin value="US8305661055"/>
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        <balance>1096398.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>69182713.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <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>SMX (Security Matters) PLC</name>
        <lei>N/A</lei>
        <title>SMX SECURITY MATTERS PLC WT EXPIRATION: 03/07/28</title>
        <cusip>G8267K117</cusip>
        <identifiers>
          <isin value="IE000P1K5QY9"/>
        </identifiers>
        <balance>113155.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1697.33000000</valUSD>
        <pctVal>0.000154643078</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>SMX SECURITY MATTERS PLC WT</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SMX (Security Matters) PLC</issuerName>
                <issueTitle>SMX Security Matters Equity Warrant Exp 7th Mar 2028</issueTitle>
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                  <cusip value="G8267K141"/>
                  <isin value="IE000P1K5QY9"/>
                  <ticker value="SMXWW"/>
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            <shareNo>0.00000000</shareNo>
            <exercisePrice>787.50000000</exercisePrice>
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            <delta>XXXX</delta>
            <unrealizedAppr>-51216.08000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Spectaire Holdings Inc</name>
        <lei>N/A</lei>
        <title>SPECTAIRE HOLDINGS INC WT EXPIRATION: 10/17/28</title>
        <cusip>84753T117</cusip>
        <identifiers>
          <isin value="US84753T1170"/>
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        <balance>198080.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>851.74000000</valUSD>
        <pctVal>0.000077601701</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>SPECTAIRE HOLDINGS INC WT</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Spectaire Holdings Inc</issuerName>
                <issueTitle>Spectaire Holdings Equity Warrant Exp 19 October 2028</issueTitle>
                <identifiers>
                  <cusip value="G7007D102"/>
                  <isin value="US84753T1170"/>
                  <ticker value="SPECW"/>
                  <other otherDesc="Other" value="N/A"/>
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            </descRefInstrmnt>
            <shareNo>198080.00000000</shareNo>
            <exercisePrice>11.50000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2028-10-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-82545.26000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SPRINGWORKS THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>SPRINGWORKS THERAPEUTICS INC COMMON STOCK</title>
        <cusip>85205L107</cusip>
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          <isin value="US85205L1070"/>
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        <balance>1488694.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>69953731.06000000</valUSD>
        <pctVal>6.373457318465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>TRIUMPH GROUP, INC.</name>
        <lei>5493007L6S47Q14SL582</lei>
        <title>TRIUMPH GROUP INC COMMON STOCK</title>
        <cusip>896818101</cusip>
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          <isin value="US8968181011"/>
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        <balance>-524961.00000000</balance>
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        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>TXNM Energy, Inc.</name>
        <lei>5493003JOBJGLZSDDQ28</lei>
        <title>TXNM ENERGY INC COMMON STOCK</title>
        <cusip>69349H107</cusip>
        <identifiers>
          <isin value="US69349H1077"/>
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        <balance>668650.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37658368.00000000</valUSD>
        <pctVal>3.431039309757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1069783.90000000"/>
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      <invstOrSec>
        <name>MJX VENTURE MANAGEMENT II LLC</name>
        <lei>N/A</lei>
        <title>VENTURE XXVII CLO LTD VENTR 2017-27RA A</title>
        <cusip>60689WAA9</cusip>
        <identifiers>
          <isin value="US60689WAA99"/>
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        <balance>3382722.38540000</balance>
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        <curCd>USD</curCd>
        <valUSD>3384413.75000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-21</maturityDt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Viper Energy, Inc.</name>
        <lei>5299009LINL232255G03</lei>
        <title>VIPER ENERGY INC COMMON STOCK</title>
        <cusip>927959106</cusip>
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          <isin value="US9279591062"/>
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        <balance>-511479.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-19502694.27000000</valUSD>
        <pctVal>-1.77688291448</pctVal>
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        <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>
      <invstOrSec>
        <name>WALGREENS BOOTS ALLIANCE, INC.</name>
        <lei>549300RPTUOIXG4LIH86</lei>
        <title>WALGREENS BOOTS ALLIANCE INC COMMON STOCK</title>
        <cusip>931427108</cusip>
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        <curCd>USD</curCd>
        <valUSD>44845150.56000000</valUSD>
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        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Worldpay/Boost Newco 1/25 (USD) TLB</name>
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          <other otherDesc="All Others" value="LX257647"/>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
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    <signature>
      <ncom:dateSigned>2025-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>NexPoint Funds I</ncom:nameOfApplicant>
      <ncom:signature>Stephanie Vitiello</ncom:signature>
      <ncom:signerName>Stephanie Vitiello</ncom:signerName>
      <ncom:title>CCO</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
