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        <name>Apogee Therapeutics Inc</name>
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        <name>Apollomics Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>ARC RESOURCES LTD.</name>
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        <name>AVANOS MEDICAL, INC.</name>
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        <name>BORALEX INC.</name>
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        <name>CROSS COUNTRY HEALTHCARE, INC.</name>
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        <name>DIGITALBRIDGE GROUP, INC.</name>
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          <other otherDesc="Forward FX" value="CCTUSD__00098113"/>
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        <name>GETTY IMAGES, INC.</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>GFL ENVIRONMENTAL INC.</name>
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        <name>Arcellx Inc</name>
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        <name>GLOBAL BUSINESS TRAVEL GROUP, INC.</name>
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        <name>GLOBALSTAR, INC.</name>
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        <name>UNKNOWN</name>
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        <name>InPost S.A.</name>
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        <name>INTEGRATED RAIL AND RESOURCES ACQUISITION CORP WT</name>
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        <name>Iridium Communications Inc</name>
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        <name>JANUS HENDERSON GROUP PLC</name>
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        <title>JANUS HENDERSON GROUP PLC COMMON STOCK</title>
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        <name>JTC PLC</name>
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        <name>LIGHTWAVE ACQUISITION CORP WT</name>
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        <title>LIGHTWAVE ACQUISITION CORP WT EXPIRATION: 06/24/30</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>LIGHTWAVE ACQUISITION CORP WT</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <cusip value="G5490M100"/>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MCGRATH RENTCORP</name>
        <lei>N/A</lei>
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          <isin value="US5805891091"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MCGRATH RENTCORP</name>
        <lei>N/A</lei>
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          <isin value="US5805891091"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NATIONAL STORAGE AFFILIATES TRUST</name>
        <lei>529900FS06O8GOYNR108</lei>
        <title>NATIONAL STORAGE AFFILIATES REIT</title>
        <cusip>637870106</cusip>
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          <isin value="US6378701063"/>
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        <balance>3682.00000000</balance>
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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>
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      <invstOrSec>
        <name>NOVARTIS AG - CVR</name>
        <lei>N/A</lei>
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          <other otherDesc="All Others" value="6698CVRRT"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>N/A</name>
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          <ticker value="2600057D DC"/>
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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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      <invstOrSec>
        <name>Nuvalent, Inc</name>
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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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ORGANON &amp; CO.</name>
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        <cusip>68622TAB7</cusip>
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          <isin value="US68622TAB70"/>
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        <balance>7250000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ORGANON &amp; CO.</name>
        <lei>549300AMCKY57OK2CO56</lei>
        <title>ORGANON &amp; CO COMMON STOCK</title>
        <cusip>68622V106</cusip>
        <identifiers>
          <isin value="US68622V1061"/>
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        <balance>2705080.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36626783.20000000</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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Olaplex 2/22 TL</name>
        <lei>N/A</lei>
        <title>Olaplex 2/22 TL 2/17/2029</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="LX202768"/>
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        <balance>15100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15135183.00000000</valUSD>
        <pctVal>1.015681364722</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.26577920</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Payoneer Global Inc</name>
        <lei>984500491C64C70FF033</lei>
        <title>PAYONEER GLOBAL INC COMMON STOCK</title>
        <cusip>70451X104</cusip>
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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>
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        <name>PROSPERITY BANCSHARES, INC.</name>
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        <title>PROSPERITY BANCSHARES INC COMMON STOCK</title>
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          <isin value="US7436061052"/>
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        <curCd>USD</curCd>
        <valUSD>-3730956.64000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>PUBLIC STORAGE.</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>PUBLIC STORAGE REIT</title>
        <cusip>74460D109</cusip>
        <identifiers>
          <isin value="US74460D1090"/>
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        <balance>-516.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-164247.96000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>QXO, INC.</name>
        <lei>N/A</lei>
        <title>QXO INC COMMON STOCK</title>
        <cusip>82846H405</cusip>
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        <balance>-1857173.00000000</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>

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      <invstOrSec>
        <name>ROKU, INC.</name>
        <lei>549300KR6ITU0YIR1T71</lei>
        <title>ROKU INC COMMON STOCK</title>
        <cusip>77543R102</cusip>
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          <isin value="US77543R1023"/>
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        <balance>272372.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>37625468.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>SCHRODERS PLC</name>
        <lei>2138001YYBULX5SZ2H24</lei>
        <title>SCHRODERS PLC COMMON STOCK</title>
        <cusip>G78602144</cusip>
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          <isin value="GB00BP9LHF23"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>SECURE WASTE INFRASTRUCTURE CORP</name>
        <lei>894500UQR7AONHFERA55</lei>
        <title>SECURE WASTE INFRASTRUCTURE COMMON STOCK</title>
        <cusip>813921103</cusip>
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          <isin value="CA8139211038"/>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SELECT MEDICAL HOLDINGS CORP</name>
        <lei>N/A</lei>
        <title>SELECT MEDICAL HOLDINGS CORP COMMON STOCK</title>
        <cusip>81619Q105</cusip>
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          <isin value="US81619Q1058"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>SENIOR PLC</name>
        <lei>5493002HQHWN5JQHKQ51</lei>
        <title>SENIOR PLC COMMON STOCK</title>
        <cusip>N/A</cusip>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SHELL PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>SHELL PLC-ADR DEPOSITARY RECEIPT</title>
        <cusip>780259305</cusip>
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          <isin value="US7802593050"/>
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        <balance>-396304.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-30729412.16000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SILA REALTY TRUST INC</name>
        <lei>N/A</lei>
        <title>SILA REALTY TRUST INC REIT</title>
        <cusip>146280508</cusip>
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          <isin value="US1462805086"/>
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        <balance>1812810.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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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"/>
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        <balance>113155.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="WAR">
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              <counterpartyName>SMX SECURITY MATTERS PLC WT</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <writtenOrPur>Purchased</writtenOrPur>
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              <otherRefInst>
                <issuerName>SMX (Security Matters) PLC</issuerName>
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                  <cusip value="G8267K141"/>
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            </descRefInstrmnt>
            <shareNo>0.00000000</shareNo>
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            <unrealizedAppr>-50457.95000000</unrealizedAppr>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Spectaire Holdings Inc</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US84753T1170"/>
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        <balance>198080.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>851.74000000</valUSD>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</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>
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                  <cusip value="G7007D102"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>198080.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-82545.26000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>STELLAR BANCORP INC</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US8589271068"/>
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        <balance>134333.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5281973.56000000</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>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN, SACHS &amp; CO.</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Spot FX Contract: USD/GBP SETTLE 2027-01-15</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTUSD__00098023"/>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>148.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN, SACHS &amp; CO.</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Spot FX Contract: USD/GBP SETTLE 2027-01-15</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTUSD__00097432"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>93442.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN, SACHS &amp; CO.</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Spot FX Contract: USD/GBP SETTLE 2027-01-15</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTUSD__00097935"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>24011.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN, SACHS &amp; CO.</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Spot FX Contract: USD/GBP SETTLE 2027-01-15</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTUSD__00097807"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>11323.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN, SACHS &amp; CO.</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Spot FX Contract: USD/GBP SETTLE 2027-01-15</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTUSD__00097558"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>70299.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN, SACHS &amp; CO.</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Spot FX Contract: USD/GBP SETTLE 2027-01-15</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTUSD__00097117"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN, SACHS &amp; CO.</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Spot FX Contract: USD/GBP SETTLE 2027-01-15</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTUSD__00097152"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN, SACHS &amp; CO.</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Spot FX Contract: USD/GBP SETTLE 2027-01-15</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTUSD__00097056"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>27031.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN, SACHS &amp; CO.</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Spot FX Contract: USD/GBP SETTLE 2027-01-15</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTUSD__00098062"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>8358.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GOLDMAN, SACHS &amp; CO.</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Spot FX Contract: USD/GBP SETTLE 2027-01-15</title>
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        <identifiers>
          <other otherDesc="Spot FX" value="CCTUSD__00097488"/>
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        <balance>1.00000000</balance>
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        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GOLDMAN, SACHS &amp; CO.</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
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          <other otherDesc="Spot FX" value="CCTUSD__00099315"/>
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        <balance>1.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>GOLDMAN, SACHS &amp; CO.</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Spot FX Contract: USD/GBP SETTLE 2027-01-15</title>
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          <other otherDesc="Spot FX" value="CCTUSD__00097662"/>
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        <balance>1.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>GOLDMAN, SACHS &amp; CO.</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
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          <other otherDesc="Spot FX" value="CCTUSD__00097719"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Talkspace Inc</name>
        <lei>N/A</lei>
        <title>TALKSPACE INC COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>TAYLOR MORRISON HOME CORPORATION</name>
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      <invstOrSec>
        <name>TK ELEVATOR US NEWCO INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TOPBUILD CORP</name>
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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>TXNM Energy, Inc.</name>
        <lei>5493003JOBJGLZSDDQ28</lei>
        <title>TXNM ENERGY INC COMMON STOCK</title>
        <cusip>69349H107</cusip>
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          <isin value="US69349H1077"/>
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        <balance>728016.00000000</balance>
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        <valUSD>41336748.48000000</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>WALGREENS HOLDING COMPANY</name>
        <lei>549300RPTUOIXG4LIH86</lei>
        <title>WALGREENS BOOTS ALLIANCE INC COMMON STOCK</title>
        <cusip>931427108</cusip>
        <identifiers>
          <isin value="US9314271084"/>
        </identifiers>
        <balance>3915428.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2075176.84000000</valUSD>
        <pctVal>0.139259528272</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WARNER BROS. DISCOVERY, INC.</name>
        <lei>5493006ZCRFWKF6B1K26</lei>
        <title>WARNER BROS DISCOVERY INC COMMON STOCK</title>
        <cusip>934423104</cusip>
        <identifiers>
          <isin value="US9344231041"/>
        </identifiers>
        <balance>1751000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>46681660.00000000</valUSD>
        <pctVal>3.132680466189</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WARNER BROS. DISCOVERY, INC.</name>
        <lei>5493006ZCRFWKF6B1K26</lei>
        <title>WBD US 01/15/27 C28 SHORT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="WBD US 01/15/27 C28 Equity"/>
        </identifiers>
        <balance>-10010.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1891890.00000000</valUSD>
        <pctVal>-0.12695964212</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>WBD US 01/15/27 C28</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>WARNER BROS. DISCOVERY, INC.</issuerName>
                <issueTitle>WBD Call 28 Jan 2027</issueTitle>
                <identifiers>
                  <cusip value="934423104"/>
                  <ticker value="WBD-01/2027-C-28"/>
                  <other otherDesc="Other" value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-1001000.00000000</shareNo>
            <exercisePrice>28.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-01-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>285239.63000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WARNER BROS. DISCOVERY, INC.</name>
        <lei>5493006ZCRFWKF6B1K26</lei>
        <title>WBD US 07/17/26 P22 SHORT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="WBD US 07/17/26 P22 Equity"/>
        </identifiers>
        <balance>-7500.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-15000.00000000</valUSD>
        <pctVal>-0.00100660959</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>WBD US 07/17/26 P22</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>WARNER BROS. DISCOVERY, INC.</issuerName>
                <issueTitle>WBD Put 22 Jul 2026</issueTitle>
                <identifiers>
                  <cusip value="934423104"/>
                  <ticker value="WBD-07/2026-P-22"/>
                  <other otherDesc="Other" value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-750000.00000000</shareNo>
            <exercisePrice>22.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-07-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>150000.00000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WHITESTONE REIT</name>
        <lei>N/A</lei>
        <title>WHITESTONE REIT REIT</title>
        <cusip>966084204</cusip>
        <identifiers>
          <isin value="US9660842041"/>
        </identifiers>
        <balance>2919805.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>55359502.80000000</valUSD>
        <pctVal>3.715027122846</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>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="The presentation of the Class A returns in Item B.5.a, includes the sales load associated with the share class. " noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-06-30</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>
