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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="TERRASCEND CORP" floatingRtSpread="0.00000000" pmntAmt="-14656861.48000000">
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                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>12903078.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-4145161.91000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS VERANO HOLDINGS CORP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="VRNOFSWP"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1778195.43000000</valUSD>
        <pctVal>0.201938149534</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Verano Holdings Corp</issuerName>
                <issueTitle>VERANO HOLDINGS CORP</issueTitle>
                <identifiers>
                  <cusip value="92338D101"/>
                  <isin value="CA92338D1015"/>
                  <ticker value="VRNO"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="VERANO HOLDINGS CORP" floatingRtSpread="0.00000000" pmntAmt="-6540000.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>6000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1778195.43000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS GLASS HOUSE BRANDS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="GLASFSWP"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>483700.07000000</valUSD>
        <pctVal>0.054930687267</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GLASS HOUSE BRANDS INC</issuerName>
                <issueTitle>GLASS HOUSE BRANDS INC</issueTitle>
                <identifiers>
                  <cusip value="377130406"/>
                  <isin value="CA3771304068"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="GLASS HOUSE BRANDS INC" floatingRtSpread="0.00000000" pmntAmt="-5160000.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>750000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>483700.07000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COWEN INC.</name>
        <lei>5493008QI0EFC5WBED75</lei>
        <title>TRS VEXT SCIENCE INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="VEXTFNOM"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>292230.63000000</valUSD>
        <pctVal>0.033186741830</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>COWEN INC.</counterpartyName>
              <counterpartyLei>5493008QI0EFC5WBED75</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>VEXT SCIENCE INC</issuerName>
                <issueTitle>VEXT SCIENCE INC</issueTitle>
                <identifiers>
                  <cusip value="925540106"/>
                  <isin value="CA9255401064"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="VEXT SCIENCE INC" floatingRtSpread="0.00000000" pmntAmt="-1012287.46000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-08-25</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>5036256.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>292230.63000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COWEN INC.</name>
        <lei>5493008QI0EFC5WBED75</lei>
        <title>TRS C21 INVESTMENTS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="CXXIFNOM"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-581879.43000000</valUSD>
        <pctVal>-0.06608028193</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>COWEN INC.</counterpartyName>
              <counterpartyLei>5493008QI0EFC5WBED75</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>C21 Investments Inc</issuerName>
                <issueTitle>C21 INVESTMENTS INC</issueTitle>
                <identifiers>
                  <cusip value="12675Q101"/>
                  <isin value="CA12675Q1019"/>
                  <ticker value="CXXI"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="C21 INVESTMENTS INC" floatingRtSpread="0.00000000" pmntAmt="-4378338.02000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-08-25</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>10283238.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-581879.43000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS GROWN ROGUE INTERNATIONAL INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="GRUSFNOM"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-15329.81000000</valUSD>
        <pctVal>-0.00174090733</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GROWN ROGUE INTERNATIONAL INC</issuerName>
                <issueTitle>GROWN ROGUE INTERNATIONAL INC</issueTitle>
                <identifiers>
                  <cusip value="39986R106"/>
                  <isin value="CA39986R1064"/>
                  <ticker value="GRIN"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="GROWN ROGUE INTERNATIONAL INC" floatingRtSpread="0.00000000" pmntAmt="-212398.50000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>477300.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-15329.81000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANTOR FITZGERALD &amp; CO.</name>
        <lei>5493004J7H4GCPG6OB62</lei>
        <title>TRS TRULIEVE CANNABIS CORP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="TCNNFCAN"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>15963079.41000000</valUSD>
        <pctVal>1.812823642745</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>CANTOR FITZGERALD &amp; CO.</counterpartyName>
              <counterpartyLei>5493004J7H4GCPG6OB62</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>TRULIEVE CANNABIS CORP</issuerName>
                <issueTitle>TRULIEVE CANNABIS CORP</issueTitle>
                <identifiers>
                  <cusip value="89788C104"/>
                  <isin value="CA89788C1041"/>
                  <ticker value="TCNNF"/>
                  <other otherDesc="SEDOL" value="BGNKTH8"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="TRULIEVE CANNABIS CORP" floatingRtSpread="0.00000000" pmntAmt="-14168250.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-09-02</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>3750000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>15963079.41000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COWEN INC.</name>
        <lei>5493008QI0EFC5WBED75</lei>
        <title>TRS TRULIEVE CANNABIS CORP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="TCNNFNOM"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-11470057.94000000</valUSD>
        <pctVal>-1.30258026557</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>COWEN INC.</counterpartyName>
              <counterpartyLei>5493008QI0EFC5WBED75</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>TRULIEVE CANNABIS CORP</issuerName>
                <issueTitle>TRULIEVE CANNABIS CORP</issueTitle>
                <identifiers>
                  <cusip value="89788C104"/>
                  <isin value="CA89788C1041"/>
                  <ticker value="TCNNF"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="TRULIEVE CANNABIS CORP" floatingRtSpread="0.00000000" pmntAmt="-135225651.31000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>15432241.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-11470057.94000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS CRESCO LABS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="CRLBFSWP"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2192860.93000000</valUSD>
        <pctVal>0.249029027360</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Cresco Labs Inc</issuerName>
                <issueTitle>CRESCO LABS INC-SUBORDINATE</issueTitle>
                <identifiers>
                  <cusip value="22587M106"/>
                  <isin value="CA22587M1068"/>
                  <ticker value="CL"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Equity - Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="CRESCO LABS INC" floatingRtSpread="0.00000000" pmntAmt="-5989219.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-09-02</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>6170000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>2192860.93000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COWEN INC.</name>
        <lei>5493008QI0EFC5WBED75</lei>
        <title>TRS CURALEAF HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="CURLFNOM"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-20426067.99000000</valUSD>
        <pctVal>-2.31965637891</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>COWEN INC.</counterpartyName>
              <counterpartyLei>5493008QI0EFC5WBED75</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Curaleaf Holdings Inc</issuerName>
                <issueTitle>Curaleaf Holdings Inc</issueTitle>
                <identifiers>
                  <cusip value="23126M102"/>
                  <isin value="CA23126M1023"/>
                  <ticker value="CURLF"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="CURALEAF HOLDINGS INC" floatingRtSpread="0.00000000" pmntAmt="-131163456.79000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>39911935.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-20426067.99000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DREY INST PREF GOV MM-M</name>
        <lei>N/A</lei>
        <title>DREY INST PREF GOV MM-M</title>
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          <ticker value="DSVXX"/>
          <other otherDesc="INTERNAL" value="BYM4CH2D2"/>
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        <curCd>USD</curCd>
        <valUSD>366648.99000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="366648.99000000" isCashCollateral="Y"/>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS PLANET 13 HOLDINGS INC</title>
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          <other otherDesc="INTERNAL" value="PLNHNOM"/>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-626546.23000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
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            <descRefInstrmnt>
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                <issueTitle>PLANET 13 HOLDINGS INC</issueTitle>
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                  <isin value="US72707C1080"/>
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                  <other otherDesc="SEDOL" value="BR55K08"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="PLANET 13 HOLDINGS INC" floatingRtSpread="0.00000000" pmntAmt="-4517777.81000000">
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>15905752.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-626546.23000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Curaleaf Holdings Inc</name>
        <lei>N/A</lei>
        <title>Curaleaf Holdings Inc</title>
        <cusip>23126M102</cusip>
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          <isin value="CA23126M1023"/>
          <ticker value="CURLF"/>
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        <balance>27265030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>76069433.70000000</valUSD>
        <pctVal>8.638713393557</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="42966.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>CANTOR FITZGERALD &amp; CO.</name>
        <lei>5493004J7H4GCPG6OB62</lei>
        <title>TRS VIREO GROWTH INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="VREOFCAN"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>375032.56000000</valUSD>
        <pctVal>0.042590021267</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>CANTOR FITZGERALD &amp; CO.</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>VIREO GROWTH INC</issuerName>
                <issueTitle>VIREO GROWTH INC</issueTitle>
                <identifiers>
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                  <isin value="CA92767B1058"/>
                  <ticker value="VREO"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="VIREO GROWTH INC" floatingRtSpread="0.00000000" pmntAmt="-899000.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
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            <terminationDt>2026-11-20</terminationDt>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>2000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>375032.56000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SNDL Inc</name>
        <lei>984500EBVC4BEACF6F53</lei>
        <title>SNDL Inc</title>
        <cusip>83307B101</cusip>
        <identifiers>
          <isin value="CA83307B1013"/>
          <ticker value="SNDL"/>
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        <balance>2168160.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5810668.80000000</valUSD>
        <pctVal>0.659880058868</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANTOR FITZGERALD &amp; CO.</name>
        <lei>5493004J7H4GCPG6OB62</lei>
        <title>TRS GLASS HOUSE BRANDS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="GLASFCAN"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3929558.36000000</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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              <counterpartyName>CANTOR FITZGERALD &amp; CO.</counterpartyName>
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            <descRefInstrmnt>
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                <issueTitle>GLASS HOUSE BRANDS INC</issueTitle>
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                  <isin value="CA3771304068"/>
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                  <other otherDesc="SEDOL" value="BMFBCF0"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="GLASS HOUSE BRANDS INC" floatingRtSpread="0.00000000" pmntAmt="-6168000.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>1350000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>3929558.36000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CANTOR FITZGERALD &amp; CO.</name>
        <lei>5493004J7H4GCPG6OB62</lei>
        <title>TRS JUSHI HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="JUSHFCAN"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3535483.28000000</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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              <counterpartyName>CANTOR FITZGERALD &amp; CO.</counterpartyName>
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            <descRefInstrmnt>
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                <issuerName>Jushi Holdings Inc</issuerName>
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                  <ticker value="JUSH"/>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="JUSHI HOLDINGS INC" floatingRtSpread="0.00000000" pmntAmt="-1967616.00000000">
              <rtResetTenors>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
            <unrealizedAppr>3535483.28000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BLACKROCK TREASURY TRUST</name>
        <lei>N/A</lei>
        <title>BLACKROCK TREASURY TRUST</title>
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        <identifiers>
          <other otherDesc="Internal" value="X9USDBLYT"/>
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        <balance>93122006.93000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>93122006.93000000</valUSD>
        <pctVal>10.57526380009</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</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>COWEN INC.</name>
        <lei>5493008QI0EFC5WBED75</lei>
        <title>TRS CRESCO LABS INC</title>
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        <identifiers>
          <other otherDesc="INTERNAL" value="CRLBFNOM"/>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-4873844.74000000</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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              <counterpartyName>COWEN INC.</counterpartyName>
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            <descRefInstrmnt>
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                <issuerName>Cresco Labs Inc</issuerName>
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                  <isin value="CA22587M1068"/>
                  <ticker value="CL"/>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="CRESCO LABS INC" floatingRtSpread="0.00000000" pmntAmt="-42947309.99020000">
              <rtResetTenors>
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            <rcptCurCd>USD</rcptCurCd>
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        <securityLending>
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      <invstOrSec>
        <name>COWEN INC.</name>
        <lei>5493008QI0EFC5WBED75</lei>
        <title>TRS VERANO HOLDINGS CORP</title>
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        <curCd>USD</curCd>
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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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              <counterpartyName>COWEN INC.</counterpartyName>
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                <issuerName>Verano Holdings Corp</issuerName>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
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      <invstOrSec>
        <name>NATIONAL BANK OF CANADA</name>
        <lei>BSGEFEIOM18Y80CKCV46</lei>
        <title>TRS CANNABIST CO HOLDINGS INC/THE</title>
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        <identifiers>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>NATIONAL BANK OF CANADA</counterpartyName>
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            <descRefInstrmnt>
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                <issuerName>CANNABIST CO HOLDINGS INC/THE</issuerName>
                <issueTitle>CANNABIST CO HOLDINGS INC/THE</issueTitle>
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                  <cusip value="13765Y103"/>
                  <isin value="CA13765Y1034"/>
                  <ticker value="CBST"/>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="CANNABIST CO HOLDINGS INC/THE" floatingRtSpread="0.00000000" pmntAmt="-545000.00000000">
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            <upfrontRcpt>0.00000000</upfrontRcpt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CANTOR FITZGERALD &amp; CO.</name>
        <lei>5493004J7H4GCPG6OB62</lei>
        <title>TRS CRESCO LABS INC</title>
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          <other otherDesc="INTERNAL" value="CRLBFCAN"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <derivativeInfo>
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              <counterpartyName>CANTOR FITZGERALD &amp; CO.</counterpartyName>
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                <issuerName>Cresco Labs Inc</issuerName>
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                  <ticker value="CL"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="CRESCO LABS INC" floatingRtSpread="0.00000000" pmntAmt="-5896800.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-09-02</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>9900000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>7171657.97000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS TERRASCEND CORP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="TSNDFSWP"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>113320.95000000</valUSD>
        <pctVal>0.012869127071</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>TerrAscend Corp</issuerName>
                <issueTitle>TerrAscend Corp</issueTitle>
                <identifiers>
                  <cusip value="88105E108"/>
                  <isin value="CA88105E1088"/>
                  <ticker value="TSNDF"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="TERRASCEND CORP" floatingRtSpread="0.00000000" pmntAmt="-1530000.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>2000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>113320.95000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS CRESCO LABS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="CRLBFTRS"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1026690.30000000</valUSD>
        <pctVal>0.116594574380</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Cresco Labs Inc</issuerName>
                <issueTitle>CRESCO LABS INC-SUBORDINATE</issueTitle>
                <identifiers>
                  <cusip value="22587M106"/>
                  <isin value="CA22587M1068"/>
                  <ticker value="CL"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="CRESCO LABS INC" floatingRtSpread="0.00000000" pmntAmt="-3150819.24000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-09-02</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>3162200.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1026690.30000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COWEN INC.</name>
        <lei>5493008QI0EFC5WBED75</lei>
        <title>TRS GREEN THUMB INDUSTRIES INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="GTBIFNOM"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-12060492.04000000</valUSD>
        <pctVal>-1.36963204602</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>COWEN INC.</counterpartyName>
              <counterpartyLei>5493008QI0EFC5WBED75</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GREEN THUMB INDUSTRIES INC/CA</issuerName>
                <issueTitle>GREEN THUMB INDUSTRIES INC/CA</issueTitle>
                <identifiers>
                  <cusip value="39342L108"/>
                  <isin value="CA39342L1085"/>
                  <ticker value="GTBIF"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="GREEN THUMB INDUSTRIES INC" floatingRtSpread="0.00000000" pmntAmt="-146413458.08830000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>16901839.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-12060492.04000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TerrAscend Corp</name>
        <lei>529900Z66HBZ5381EO49</lei>
        <title>TerrAscend Corp</title>
        <cusip>88105E108</cusip>
        <identifiers>
          <isin value="CA88105E1088"/>
          <ticker value="TSNDF"/>
        </identifiers>
        <balance>37211304.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30513269.28000000</valUSD>
        <pctVal>3.465194562245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANTOR FITZGERALD &amp; CO.</name>
        <lei>5493004J7H4GCPG6OB62</lei>
        <title>TRS C21 INVESTMENTS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="CXXIFCAN"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1082386.27000000</valUSD>
        <pctVal>0.122919605324</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>CANTOR FITZGERALD &amp; CO.</counterpartyName>
              <counterpartyLei>5493004J7H4GCPG6OB62</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>C21 Investments Inc</issuerName>
                <issueTitle>C21 INVESTMENTS INC</issueTitle>
                <identifiers>
                  <cusip value="12675Q101"/>
                  <isin value="CA12675Q1019"/>
                  <ticker value="CXXI"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="C21 INVESTMENTS INC" floatingRtSpread="0.00000000" pmntAmt="-538125.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-09-02</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>4375000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1082386.27000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS TRULIEVE CANNABIS CORP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="TCNNFSWP"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>4004188.63000000</valUSD>
        <pctVal>0.454729794423</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>TRULIEVE CANNABIS CORP</issuerName>
                <issueTitle>TRULIEVE CANNABIS CORP</issueTitle>
                <identifiers>
                  <cusip value="89788C104"/>
                  <isin value="CA89788C1041"/>
                  <ticker value="TCNNF"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Equity - Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="TRULIEVE CANNABIS CORP" floatingRtSpread="0.00000000" pmntAmt="-20220000.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-09-02</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>3000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>4004188.63000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS ASCEND WELLNESS HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="AAWHNOM"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-702213.94000000</valUSD>
        <pctVal>-0.07974589363</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>ASCEND WELLNESS HOLDINGS INC</issuerName>
                <issueTitle>ASCEND WELLNESS HOLDINGS INC</issueTitle>
                <identifiers>
                  <cusip value="04351N106"/>
                  <isin value="US04351N1063"/>
                  <ticker value="AAWH/U"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="ASCEND WELLNESS HOLDINGS INC" floatingRtSpread="0.00000000" pmntAmt="-3672339.34000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>4361670.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-702213.94000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANTOR FITZGERALD &amp; CO.</name>
        <lei>5493004J7H4GCPG6OB62</lei>
        <title>TRS GREEN THUMB INDUSTRIES INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="GTBIFCAN"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>8362445.07000000</valUSD>
        <pctVal>0.949668779105</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>CANTOR FITZGERALD &amp; CO.</counterpartyName>
              <counterpartyLei>5493004J7H4GCPG6OB62</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GREEN THUMB INDUSTRIES INC</issuerName>
                <issueTitle>GREEN THUMB INDUSTRIES INC</issueTitle>
                <identifiers>
                  <cusip value="39342L108"/>
                  <isin value="CA39342L1085"/>
                  <ticker value="GTBIF"/>
                  <other otherDesc="SEDOL" value="BFFY829"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="GREEN THUMB INDUSTRIES INC" floatingRtSpread="0.00000000" pmntAmt="-15028400.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2027-01-18</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>2940000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>8362445.07000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COWEN INC.</name>
        <lei>5493008QI0EFC5WBED75</lei>
        <title>TRS TRULIEVE CANNABIS CORP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="TCNNFTRS"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2183213.98000000</valUSD>
        <pctVal>0.247933485667</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>COWEN INC.</counterpartyName>
              <counterpartyLei>5493008QI0EFC5WBED75</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>TRULIEVE CANNABIS CORP</issuerName>
                <issueTitle>TRULIEVE CANNABIS CORP</issueTitle>
                <identifiers>
                  <cusip value="89788C104"/>
                  <isin value="CA89788C1041"/>
                  <ticker value="TCNNF"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="TRULIEVE CANNABIS CORP" floatingRtSpread="0.00000000" pmntAmt="-15382976.84000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-09-02</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>2185000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>2183213.98000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS CURALEAF HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="CURLFSWP"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1740490.04000000</valUSD>
        <pctVal>0.197656192357</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Curaleaf Holdings Inc</issuerName>
                <issueTitle>Curaleaf Holdings Inc</issueTitle>
                <identifiers>
                  <cusip value="23126M102"/>
                  <isin value="CA23126M1023"/>
                  <ticker value="CURLF"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="CURALEAF HOLDINGS INC" floatingRtSpread="0.00000000" pmntAmt="-9440000.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>4000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1740490.04000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANTOR FITZGERALD &amp; CO.</name>
        <lei>5493004J7H4GCPG6OB62</lei>
        <title>TRS GROWN ROGUE INTERNATIONAL INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="GRUSFCAN"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-44314.15000000</valUSD>
        <pctVal>-0.00503247128</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>CANTOR FITZGERALD &amp; CO.</counterpartyName>
              <counterpartyLei>5493004J7H4GCPG6OB62</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GROWN ROGUE INTERNATIONAL INC</issuerName>
                <issueTitle>GROWN ROGUE INTERNATIONAL INC</issueTitle>
                <identifiers>
                  <cusip value="39986R304"/>
                  <isin value="CA39986R3045"/>
                  <ticker value="GRIN"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="GROWN ROGUE INTERNATIONAL INC" floatingRtSpread="0.00000000" pmntAmt="-1577790.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2027-01-18</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>3720000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-44314.15000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS COLUMBIA CARE INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="CBSTFNOM"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-805316.75000000</valUSD>
        <pctVal>-0.09145461265</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Columbia Care Inc</issuerName>
                <issueTitle>COLUMBIA CARE INC</issueTitle>
                <identifiers>
                  <cusip value="197309107"/>
                  <isin value="CA1973091079"/>
                  <ticker value="CCHW"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="COLUMBIA CARE INC" floatingRtSpread="0.00000000" pmntAmt="-4709282.45950000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-09-02</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>34140120.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-805316.75000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS CURALEAF HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="CURLFCAN"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5641508.27000000</valUSD>
        <pctVal>0.640669591995</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Curaleaf Holdings Inc</issuerName>
                <issueTitle>Curaleaf Holdings Inc</issueTitle>
                <identifiers>
                  <cusip value="23126M102"/>
                  <isin value="CA23126M1023"/>
                  <ticker value="CURLF"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="CURALEAF HOLDINGS INC" floatingRtSpread="0.00000000" pmntAmt="-2710500.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>3000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>5641508.27000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS GREEN THUMB INDUSTRIES INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="GTBIFSWP"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2806037.48000000</valUSD>
        <pctVal>0.318663520710</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GREEN THUMB INDUSTRIES INC/CA</issuerName>
                <issueTitle>GREEN THUMB INDUSTRIES INC/CA</issueTitle>
                <identifiers>
                  <cusip value="39342L108"/>
                  <isin value="CA39342L1085"/>
                  <ticker value="GTBIF"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Equity - Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="GREEN THUMB INDUSTRIES INC" floatingRtSpread="0.00000000" pmntAmt="-21210000.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-09-02</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>3000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>2806037.48000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS C21 INVESTMENTS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="CXXIFSWP"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>79952.59000000</valUSD>
        <pctVal>0.009079698329</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>C21 Investments Inc</issuerName>
                <issueTitle>C21 INVESTMENTS INC</issueTitle>
                <identifiers>
                  <cusip value="12675Q101"/>
                  <isin value="CA12675Q1019"/>
                  <ticker value="CXXI"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="C21 INVESTMENTS INC" floatingRtSpread="0.00000000" pmntAmt="-291900.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-08-25</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>1000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>79952.59000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS PLANET 13 HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="PLNHSWP"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>6520.93000000</valUSD>
        <pctVal>0.000740539827</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>TerrAscend Corp</issuerName>
                <issueTitle>TerrAscend Corp</issueTitle>
                <identifiers>
                  <cusip value="88105E108"/>
                  <isin value="CA88105E1088"/>
                  <ticker value="TSNDF"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="PLANET 13 HOLDINGS INC" floatingRtSpread="0.00000000" pmntAmt="-240000.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>1000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>6520.93000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANTOR FITZGERALD &amp; CO.</name>
        <lei>5493004J7H4GCPG6OB62</lei>
        <title>TRS TRANSCEND THERAPEUTICS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="TSNDFCAN"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2268656.00000000</valUSD>
        <pctVal>0.257636583044</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>CANTOR FITZGERALD &amp; CO.</counterpartyName>
              <counterpartyLei>5493004J7H4GCPG6OB62</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>TRANSCEND THERAPEUTICS INC/MA</issuerName>
                <issueTitle>TRANSCEND THERAPEUTICS INC/MA</issueTitle>
                <identifiers>
                  <cusip value="89353T102"/>
                  <isin value="US89353T1025"/>
                  <ticker value="TSND"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="TRANSCEND THERAPEUTICS INC" floatingRtSpread="0.00000000" pmntAmt="-1769659.40000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2027-01-18</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>4939100.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>2268656.00000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS JUSHI HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="JUSHFSWP"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>498165.92000000</valUSD>
        <pctVal>0.056573480253</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Jushi Holdings Inc</issuerName>
                <issueTitle>JUSHI HOLDINGS INC-B SUB VOT</issueTitle>
                <identifiers>
                  <cusip value="48213Y107"/>
                  <isin value="CA48213Y1079"/>
                  <ticker value="JUSH"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Equity - Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="JUSHI HOLDINGS INC" floatingRtSpread="0.00000000" pmntAmt="-2380000.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-09-02</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>4000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>498165.92000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fluent Corp</name>
        <lei>894500OFN8DA1XPGMT54</lei>
        <title>Fluent Corp</title>
        <cusip>34380L102</cusip>
        <identifiers>
          <isin value="CA34380L1022"/>
          <ticker value="CNTMF"/>
        </identifiers>
        <balance>5163788.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>254574.75000000</valUSD>
        <pctVal>0.028910407183</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>COWEN INC.</name>
        <lei>5493008QI0EFC5WBED75</lei>
        <title>TRS JUSHI HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="JUSHFNOM"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-821347.89000000</valUSD>
        <pctVal>-0.09327516550</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>COWEN INC.</counterpartyName>
              <counterpartyLei>5493008QI0EFC5WBED75</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Jushi Holdings Inc</issuerName>
                <issueTitle>JUSHI HOLDINGS INC-B SUB VOT</issueTitle>
                <identifiers>
                  <cusip value="48213Y107"/>
                  <isin value="CA48213Y1079"/>
                  <ticker value="JUSH"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="JUSHI HOLDINGS INC" floatingRtSpread="0.00000000" pmntAmt="-14776984.33000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>19525173.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-821347.89000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANTOR FITZGERALD &amp; CO.</name>
        <lei>5493004J7H4GCPG6OB62</lei>
        <title>TRS VERANO HOLDINGS CORP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="VRNOFCAN"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>7462095.45000000</valUSD>
        <pctVal>0.847421898290</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>CANTOR FITZGERALD &amp; CO.</counterpartyName>
              <counterpartyLei>5493004J7H4GCPG6OB62</counterpartyLei>
            </counterparties>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="VERANO HOLDINGS CORP" floatingRtSpread="0.00000000" pmntAmt="-4686000.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2025-12-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>8800000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>7462095.45000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANTOR FITZGERALD &amp; CO.</name>
        <lei>5493004J7H4GCPG6OB62</lei>
        <title>TRS CANNABIST CO HOLDINGS INC/THE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="CBSTFCAN"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>884431.86000000</valUSD>
        <pctVal>0.100439203804</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>CANTOR FITZGERALD &amp; CO.</counterpartyName>
              <counterpartyLei>5493004J7H4GCPG6OB62</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>CANNABIST CO HOLDINGS INC/THE</issuerName>
                <issueTitle>CANNABIST CO HOLDINGS INC/THE</issueTitle>
                <identifiers>
                  <cusip value="13765Y103"/>
                  <isin value="CA13765Y1034"/>
                  <ticker value="CBST"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="CANNABIST CO HOLDINGS INC/THE" floatingRtSpread="0.00000000" pmntAmt="-532285.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-09-02</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>12350000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>884431.86000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS GLASS HOUSE BRANDS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="GLASFTRS"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>238324.35000000</valUSD>
        <pctVal>0.027064954400</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GLASS HOUSE BRANDS INC</issuerName>
                <issueTitle>GLASS HOUSE BRANDS INC</issueTitle>
                <identifiers>
                  <cusip value="377130406"/>
                  <isin value="CA3771304068"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="GLASS HOUSE BRANDS INC" floatingRtSpread="0.00000000" pmntAmt="-5940000.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-09-02</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>825000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>238324.35000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hempfusion Wellness Inc</name>
        <lei>549300IKC8T8NTH4GY17</lei>
        <title>Hempfusion Wellness Inc</title>
        <cusip>423821107</cusip>
        <identifiers>
          <isin value="CA4238211078"/>
          <ticker value="CBDHF"/>
        </identifiers>
        <balance>2388103.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COWEN INC.</name>
        <lei>5493008QI0EFC5WBED75</lei>
        <title>TRS GLASS HOUSE BRANDS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="GLASFNOM"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2631193.88000000</valUSD>
        <pctVal>-0.29880766434</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>COWEN INC.</counterpartyName>
              <counterpartyLei>5493008QI0EFC5WBED75</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GLASS HOUSE BRANDS INC</issuerName>
                <issueTitle>GLASS HOUSE BRANDS INC</issueTitle>
                <identifiers>
                  <cusip value="377130406"/>
                  <isin value="CA3771304068"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="GLASS HOUSE BRANDS INC" floatingRtSpread="0.00000000" pmntAmt="-29249981.85000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>3562473.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-2631193.88000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOMURA INTERNATIONAL PLC</name>
        <lei>DGQCSV2PHVF7I2743539</lei>
        <title>TRS MARIMED INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="MRMDNOM"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-35876.81000000</valUSD>
        <pctVal>-0.00407429717</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>NOMURA INTERNATIONAL PLC</counterpartyName>
              <counterpartyLei>DGQCSV2PHVF7I2743539</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>MARIMED INC</issuerName>
                <issueTitle>MARIMED INC</issueTitle>
                <identifiers>
                  <cusip value="56782V107"/>
                  <isin value="US56782V1070"/>
                  <ticker value="MRMD"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="MARIMED INC" floatingRtSpread="0.00000000" pmntAmt="-903291.54000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>5849036.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-35876.81000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANTOR FITZGERALD &amp; CO.</name>
        <lei>5493004J7H4GCPG6OB62</lei>
        <title>TRS PLANET 13 HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="PLNHCAN"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-67779.94000000</valUSD>
        <pctVal>-0.00769732922</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>CANTOR FITZGERALD &amp; CO.</counterpartyName>
              <counterpartyLei>5493004J7H4GCPG6OB62</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>PLANET 13 HOLDINGS INC</issuerName>
                <issueTitle>PLANET 13 HOLDINGS INC</issueTitle>
                <identifiers>
                  <cusip value="72707C108"/>
                  <isin value="US72707C1080"/>
                  <ticker value="PLNH"/>
                  <other otherDesc="SEDOL" value="BR55K08"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="PLANET 13 HOLDINGS INC" floatingRtSpread="0.00000000" pmntAmt="-983750.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-09-02</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>3750000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-67779.94000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <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>2025-11-24</ncom:dateSigned>
      <ncom:nameOfApplicant>AdvisorShares Trust</ncom:nameOfApplicant>
      <ncom:signature>Dan Ahrens</ncom:signature>
      <ncom:signerName>Dan Ahrens</ncom:signerName>
      <ncom:title>Secretary and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
