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      <invstOrSec>
        <name>ASGN, Inc.</name>
        <lei>LZBNYYCBUKY537072438</lei>
        <title>ASGN, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>American Airlines, Inc.</name>
        <lei>N/A</lei>
        <title>American Airlines, Inc.</title>
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          <isin value="US00253XAB73"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Acadia Healthcare Co., Inc.</name>
        <lei>5493005CW985Y9D0NC11</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-15</maturityDt>
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      <invstOrSec>
        <name>Acushnet Co.</name>
        <lei>549300H805O14KEFES79</lei>
        <title>Acushnet Co.</title>
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          <isin value="US005095AB02"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-12-01</maturityDt>
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          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>Adient Global Holdings Ltd.</name>
        <lei>213800VA38VCKE6M8790</lei>
        <title>Adient Global Holdings Ltd.</title>
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        <curCd>USD</curCd>
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        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-15</maturityDt>
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      <invstOrSec>
        <name>Adient Global Holdings Ltd.</name>
        <lei>213800VA38VCKE6M8790</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-15</maturityDt>
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      <invstOrSec>
        <name>AECOM</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Advanced Drainage Systems, Inc.</name>
        <lei>6QQTOZ5MF5DHM7K92I60</lei>
        <title>Advanced Drainage Systems, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-15</maturityDt>
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      <invstOrSec>
        <name>Advanced Drainage Systems, Inc.</name>
        <lei>6QQTOZ5MF5DHM7K92I60</lei>
        <title>Advanced Drainage Systems, Inc.</title>
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          <isin value="US00790RAC88"/>
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        <curCd>USD</curCd>
        <valUSD>601549.09000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-01</maturityDt>
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          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Ahead DB Holdings LLC</name>
        <lei>254900L07WFL833JX193</lei>
        <title>Ahead DB Holdings LLC</title>
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        <balance>5319000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.62500000</annualizedRt>
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        <name>Albertsons Cos., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Albertsons Cos., Inc.</name>
        <lei>549300YKWOC0AOR16R51</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.62500000</annualizedRt>
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        <name>Alcoa Nederland Holding BV</name>
        <lei>5493000UL1QLQLT1VQ42</lei>
        <title>Alcoa Nederland Holding BV</title>
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        <invCountry>NL</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ATI, Inc.</name>
        <lei>ZW1LRE7C3H17O2ZN9B45</lei>
        <title>ATI, Inc.</title>
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        <name>Allied Universal Holdco LLC</name>
        <lei>98450038B4549046D794</lei>
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        <name>Allied Universal Holdco LLC</name>
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      <invstOrSec>
        <name>Allison Transmission, Inc.</name>
        <lei>MWKQ3I0U1GXP2YDSZW75</lei>
        <title>Allison Transmission, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Allison Transmission, Inc.</name>
        <lei>MWKQ3I0U1GXP2YDSZW75</lei>
        <title>Allison Transmission, Inc.</title>
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        <name>Altice France SA</name>
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        <name>Altice France SA</name>
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        <name>Altice France Holding SA</name>
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        <name>Alumina Pty. Ltd.</name>
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        <name>Amer Sports Co.</name>
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        <name>American Airlines, Inc.</name>
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        <name>Amkor Technology, Inc.</name>
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        <name>Arches Buyer, Inc.</name>
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        <name>Archrock Partners LP</name>
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        <name>Ardagh Group SA</name>
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        <name>Asbury Automotive Group, Inc.</name>
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        <name>Ascent Resources Utica Holdings LLC</name>
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        <name>Asurion LLC and Asurion Co-Issuer, Inc.</name>
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        <name>Avantor Funding, Inc.</name>
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        <name>Avis Budget Car Rental LLC</name>
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        <name>Axalta Coating Systems LLC</name>
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        <name>Axalta Coating Systems Dutch Holding B BV</name>
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        <name>Axon Enterprise, Inc.</name>
        <lei>549300QP2IEEGFE16681</lei>
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        <name>BWX Technologies, Inc.</name>
        <lei>549300NP85N265KWMS58</lei>
        <title>BWX Technologies, Inc.</title>
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        <name>Bausch Health Cos., Inc.</name>
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        <name>Bausch Health Cos., Inc.</name>
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        <name>Big River Steel LLC</name>
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        <name>Boise Cascade Co.</name>
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        <name>Brink's Co. (The)</name>
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        <name>Builders FirstSource, Inc.</name>
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        <name>CCO Holdings LLC</name>
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        <name>CCO Holdings LLC</name>
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        <name>CCO Holdings LLC</name>
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        <name>Churchill Downs, Inc.</name>
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        <name>Community Health Systems, Inc.</name>
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        <name>Carpenter Technology Corp.</name>
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      <invstOrSec>
        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
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      <invstOrSec>
        <name>SM Energy Co.</name>
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        <name>Clarios Global LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Clarios Global LP</name>
        <lei>N/A</lei>
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          <isin value="US18060TAE55"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Clarivate Science Holdings Corp.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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        <name>Clean Harbors, Inc.</name>
        <lei>5493000SJVZVZJKHJF48</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Clean Harbors, Inc.</name>
        <lei>5493000SJVZVZJKHJF48</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Clear Channel Outdoor Holdings, Inc.</name>
        <lei>254900XBEE6V1ENYS150</lei>
        <title>Clear Channel Outdoor Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Clear Channel Outdoor Holdings, Inc.</name>
        <lei>254900XBEE6V1ENYS150</lei>
        <title>Clear Channel Outdoor Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Clear Channel Outdoor Holdings, Inc.</name>
        <lei>254900XBEE6V1ENYS150</lei>
        <title>Clear Channel Outdoor Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Clear Channel Outdoor Holdings, Inc.</name>
        <lei>254900XBEE6V1ENYS150</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Cleveland-Cliffs, Inc.</name>
        <lei>549300TM2WLI2BJMDD86</lei>
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        <fairValLevel>2</fairValLevel>
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        <lei>549300TM2WLI2BJMDD86</lei>
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        <name>Cleveland-Cliffs, Inc.</name>
        <lei>549300TM2WLI2BJMDD86</lei>
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        <name>Cleveland-Cliffs, Inc.</name>
        <lei>549300TM2WLI2BJMDD86</lei>
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        <name>Clydesdale Acquisition Holdings, Inc.</name>
        <lei>254900QKSDYFR3K5YD98</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Permian Resources Operating LLC</name>
        <lei>5493004CTVUMQLRPOE23</lei>
        <title>Permian Resources Operating LLC</title>
        <cusip>19416MAB5</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Commercial Metals Co.</name>
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        <name>Connect Holding II LLC</name>
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        <name>Constellation Energy Generation LLC</name>
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        <name>Cooper-Standard Automotive, Inc.</name>
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        <name>CoreWeave, Inc.</name>
        <lei>984500511DP2B6186053</lei>
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        <name>DT Midstream, Inc.</name>
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        <name>Dana, Inc.</name>
        <lei>KVWHW7YLZPFJM8QYNJ51</lei>
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        <name>DaVita, Inc.</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
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        <name>DaVita, Inc.</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
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        <name>Diamond Foreign Asset Co.</name>
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        <title>Diamond Foreign Asset Co.</title>
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        <invCountry>KY</invCountry>

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        <name>DISH Network Corp.</name>
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        <name>DISH DBS Corp.</name>
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        <name>DISH DBS Corp.</name>
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        <name>DISH DBS Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dornoch Debt Merger Sub, Inc.</name>
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        <name>Dycom Industries, Inc.</name>
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        <name>EchoStar Corp.</name>
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        <name>EchoStar Corp.</name>
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        <name>Edgewell Personal Care Co.</name>
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        <name>Edgewell Personal Care Co.</name>
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        <name>Elanco Animal Health, Inc.</name>
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        <name>EMRLD Borrower LP</name>
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        <name>Encompass Health Corp.</name>
        <lei>549300FVRPM9DRQZRG64</lei>
        <title>Encompass Health Corp.</title>
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        <name>Energizer Holdings, Inc.</name>
        <lei>5493000D6NN0V57UME20</lei>
        <title>Energizer Holdings, Inc.</title>
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      <invstOrSec>
        <name>GFL Environmental, Inc.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>GFL Environmental, Inc.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Gap, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Garda World Security Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Garda World Security Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Garda World Security Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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        <name>Genesee &amp; Wyoming, Inc.</name>
        <lei>G617XSG94Z7G0RMW3L02</lei>
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          <maturityDt>2032-04-15</maturityDt>
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        <name>Genesis Energy LP</name>
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        <invCountry>US</invCountry>
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        <name>Genesis Energy LP</name>
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        <name>Global Medical Response, Inc.</name>
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        <name>Global Infrastructure Solutions, Inc.</name>
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        <name>Global Infrastructure Solutions, Inc.</name>
        <lei>2549003BGLQITAJ6ZT28</lei>
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        <name>Goat Holdco LLC</name>
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        <name>Goodyear Tire &amp; Rubber Co. (The)</name>
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        <name>Goodyear Tire &amp; Rubber Co. (The)</name>
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        <name>Graphic Packaging International LLC</name>
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        <invCountry>US</invCountry>
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        <name>Gray Media, Inc.</name>
        <lei>529900TM5726KDN7UU35</lei>
        <title>Gray Media, Inc.</title>
        <cusip>389286AA3</cusip>
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        <name>Gray Media, Inc.</name>
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        <name>Griffon Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Gulfport Energy Operating Corp.</name>
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        <name>Enviri Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Harvest Midstream I LP</name>
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          <isin value="US417558AA18"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Herc Holdings, Inc.</name>
        <lei>549300TP80QLITMSBP82</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Hertz Corp. (The)</name>
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        <name>Hilton Domestic Operating Co., Inc.</name>
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        <name>Hologic, Inc.</name>
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        <name>IHO Verwaltungs GmbH</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>INEOS Finance plc</name>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>IQVIA, Inc.</name>
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        <name>Icahn Enterprises LP</name>
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        <name>iHeartCommunications, Inc.</name>
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        <name>Imola Merger Corp.</name>
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        <name>Crescent Energy Finance LLC</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>INEOS Quattro Finance 2 plc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Installed Building Products, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ION Platform Finance US, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IQVIA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-15</maturityDt>
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      <invstOrSec>
        <name>IQVIA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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      <invstOrSec>
        <name>Iron Mountain Information Management Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JELD-WEN, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JELD-WEN, Inc.</name>
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        <name>JetBlue Airways Corp.</name>
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        <name>JPMorgan U.S. Government Money Market Fund</name>
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        <name>Kinetik Holdings LP</name>
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        <name>Kioxia Holdings Corp.</name>
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        <name>Knife River Corp.</name>
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        <name>Kodiak Gas Services LLC</name>
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        <name>Kodiak Gas Services LLC</name>
        <lei>549300ZQBRWEUOVOM131</lei>
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        <name>LABL, Inc.</name>
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        <name>Bath &amp; Body Works, Inc.</name>
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        <name>Lamb Weston Holdings, Inc.</name>
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        <name>Crescent Energy Finance LLC</name>
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        <name>Level 3 Financing, Inc.</name>
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        <name>Lithia Motors, Inc.</name>
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        <name>Lithia Motors, Inc.</name>
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        <name>Live Nation Entertainment, Inc.</name>
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        <name>Lsf12 Helix Parent LLC</name>
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        <name>MGM Resorts International</name>
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        <name>MGM Resorts International</name>
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        <name>MIWD Holdco II LLC</name>
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        <name>Matador Resources Co.</name>
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        <name>Mauser Packaging Solutions Holding Co.</name>
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        <name>Miter Brands Acquisition Holdco, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Molina Healthcare, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Medline Borrower LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
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      <invstOrSec>
        <name>NCR Voyix Corp.</name>
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        <title>NCR Voyix Corp.</title>
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          <isin value="US62886EBA55"/>
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        <balance>4790000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NCL Corp. Ltd.</name>
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        <title>NCL Corp. Ltd.</title>
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        <balance>1795000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1813901.35000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
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          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>NGL Energy Operating LLC</name>
        <lei>N/A</lei>
        <title>NGL Energy Operating LLC</title>
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          <isin value="US62922LAC28"/>
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        <balance>4430000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4591110.24000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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          <annualizedRt>8.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
        <cusip>629377CE0</cusip>
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          <isin value="US629377CE03"/>
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        <balance>2570000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2569820.61000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
        <cusip>629377CH3</cusip>
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        <balance>570000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>571988.73000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
        <cusip>629377CR1</cusip>
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        <balance>4030000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3804023.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
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          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
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        <valUSD>2537441.43000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-15</maturityDt>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-15</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-15</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>NCR Atleos Corp.</name>
        <lei>9845005FC3S0VA714741</lei>
        <title>NCR Atleos Corp.</title>
        <cusip>638962AA8</cusip>
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        <balance>2681000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>9.50000000</annualizedRt>
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        <name>Neptune Bidco US, Inc.</name>
        <lei>549300VG15T3VCYZ4531</lei>
        <title>Neptune Bidco US, Inc.</title>
        <cusip>640695AA0</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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        <name>Neptune Bidco US, Inc.</name>
        <lei>549300VG15T3VCYZ4531</lei>
        <title>Neptune Bidco US, Inc.</title>
        <cusip>640695AD4</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-15</maturityDt>
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      <invstOrSec>
        <name>Newell Brands, Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>Newell Brands, Inc.</title>
        <cusip>651229BF2</cusip>
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        <balance>6365000.00000000</balance>
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        <valUSD>6384521.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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        <name>Nexstar Media, Inc.</name>
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        <name>Noble Finance II LLC</name>
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        <name>Gen Digital, Inc.</name>
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        <name>NOVA Chemicals Corp.</name>
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        <name>NOVA Chemicals Corp.</name>
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        <name>Novelis Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Novelis Corp.</name>
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        <name>NuStar Logistics LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chord Energy Corp.</name>
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        <name>Olin Corp.</name>
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        <name>ON Semiconductor Corp.</name>
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        <name>1011778 BC ULC</name>
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        <name>OneMain Finance Corp.</name>
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        <name>1261229 BC Ltd.</name>
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        <name>Open Text Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Organon &amp; Co.</name>
        <lei>N/A</lei>
        <title>Organon &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-15</maturityDt>
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      <invstOrSec>
        <name>Organon &amp; Co.</name>
        <lei>N/A</lei>
        <title>Organon &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-15</maturityDt>
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      <invstOrSec>
        <name>Organon &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-30</maturityDt>
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      <invstOrSec>
        <name>Outfront Media Capital LLC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
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          <annualizedRt>7.37500000</annualizedRt>
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      <invstOrSec>
        <name>Accendra Health, Inc.</name>
        <lei>549300LMT5KQQXCEZ733</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-31</maturityDt>
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      <invstOrSec>
        <name>Accendra Health, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
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          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>Owens-Brockway Glass Container, Inc.</name>
        <lei>V2UQUCDZJ9WY98W8QU33</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-15</maturityDt>
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      <invstOrSec>
        <name>Owens-Brockway Glass Container, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-01</maturityDt>
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      <invstOrSec>
        <name>PG&amp;E Corp.</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
        <title>PG&amp;E Corp.</title>
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          <isin value="US69331CAH16"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Performance Food Group, Inc.</name>
        <lei>549300OMUOGBYK0FFO76</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Performance Food Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-01</maturityDt>
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        <name>Permian Resources Operating LLC</name>
        <lei>5493004CTVUMQLRPOE23</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-15</maturityDt>
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        <name>Petco Health &amp; Wellness Co., Inc.</name>
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        <name>PetSmart LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Post Holdings, Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>Post Holdings, Inc.</title>
        <cusip>737446AR5</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Post Holdings, Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>Post Holdings, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Post Holdings, Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>Post Holdings, Inc.</title>
        <cusip>737446AX2</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Prairie Acquiror LP</name>
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        <title>Prairie Acquiror LP</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Prime Security Services Borrower LLC</name>
        <lei>N/A</lei>
        <title>Prime Security Services Borrower LLC</title>
        <cusip>74166MAC0</cusip>
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          <isin value="US74166MAC01"/>
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        <balance>1112000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-15</maturityDt>
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      <invstOrSec>
        <name>ADT Security Corp. (The)</name>
        <lei>5493009JEEDYLVRA0J13</lei>
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          <isin value="US74166NAA28"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Primo Water Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>Primo Water Holdings, Inc.</title>
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          <isin value="US74168RAC79"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-01</maturityDt>
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      <invstOrSec>
        <name>Qnity Electronics, Inc.</name>
        <lei>254900RSUG4J9TFFZX53</lei>
        <title>Qnity Electronics, Inc.</title>
        <cusip>74743LAA8</cusip>
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          <isin value="US74743LAA89"/>
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        <balance>725000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-15</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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        <name>Qnity Electronics, Inc.</name>
        <lei>254900RSUG4J9TFFZX53</lei>
        <title>Qnity Electronics, Inc.</title>
        <cusip>74743LAB6</cusip>
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          <isin value="US74743LAB62"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>QXO Building Products, Inc.</name>
        <lei>549300HDXQWWCBOYXP31</lei>
        <title>QXO Building Products, Inc.</title>
        <cusip>74825NAA5</cusip>
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          <isin value="US74825NAA54"/>
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        <balance>780000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>807858.48000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-30</maturityDt>
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          <annualizedRt>6.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Rocket Mortgage LLC</name>
        <lei>N/A</lei>
        <title>Rocket Mortgage LLC</title>
        <cusip>74841CAA9</cusip>
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          <isin value="US74841CAA99"/>
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        <balance>2270000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>Rocket Mortgage LLC</name>
        <lei>N/A</lei>
        <title>Rocket Mortgage LLC</title>
        <cusip>74841CAB7</cusip>
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          <isin value="US74841CAB72"/>
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        <balance>2305000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2166276.34000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-01</maturityDt>
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          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>Quikrete Holdings, Inc.</name>
        <lei>5493007KIN86DIZWZT22</lei>
        <title>Quikrete Holdings, Inc.</title>
        <cusip>74843PAA8</cusip>
        <identifiers>
          <isin value="US74843PAA84"/>
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        <balance>8805000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9151018.89000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-01</maturityDt>
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          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>RHP Hotel Properties LP</name>
        <lei>N/A</lei>
        <title>RHP Hotel Properties LP</title>
        <cusip>749571AF2</cusip>
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          <isin value="US749571AF20"/>
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        <balance>770000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>RHP Hotel Properties LP</name>
        <lei>N/A</lei>
        <title>RHP Hotel Properties LP</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>RHP Hotel Properties LP</name>
        <lei>N/A</lei>
        <title>RHP Hotel Properties LP</title>
        <cusip>749571AK1</cusip>
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          <isin value="US749571AK15"/>
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        <balance>3032000.00000000</balance>
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          <maturityDt>2032-04-01</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>RHP Hotel Properties LP</name>
        <lei>N/A</lei>
        <title>RHP Hotel Properties LP</title>
        <cusip>74984CAA6</cusip>
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          <isin value="US74984CAA62"/>
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        <balance>821000.00000000</balance>
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      <invstOrSec>
        <name>Radiology Partners, Inc.</name>
        <lei>549300SFTAG2177WUZ08</lei>
        <title>Radiology Partners, Inc.</title>
        <cusip>75041VAE4</cusip>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Range Resources Corp.</name>
        <lei>H3Y3WLYCX0BTO1TRW162</lei>
        <title>Range Resources Corp.</title>
        <cusip>75281ABK4</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Raven Acquisition Holdings LLC</name>
        <lei>N/A</lei>
        <title>Raven Acquisition Holdings LLC</title>
        <cusip>75420NAA1</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Anywhere Real Estate Group LLC</name>
        <lei>N/A</lei>
        <title>Anywhere Real Estate Group LLC</title>
        <cusip>75606DAL5</cusip>
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        <balance>1290000.00000000</balance>
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        <valUSD>1271631.82000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Science Applications International Corp.</name>
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        <name>Seagate Data Storage Technology Pte. Ltd.</name>
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        <name>Sealed Air Corp.</name>
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        <name>Sensata Technologies, Inc.</name>
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        <name>Shift4 Payments LLC</name>
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        <name>Sinclair Television Group, Inc.</name>
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        <name>Six Flags Entertainment Corp.</name>
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        <name>Expand Energy Corp.</name>
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        <name>Block, Inc.</name>
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      <invstOrSec>
        <name>Starwood Property Trust, Inc.</name>
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        <name>Station Casinos LLC</name>
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        <name>Sunoco LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-01</maturityDt>
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      <invstOrSec>
        <name>Sunoco LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-01</maturityDt>
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          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>Sunoco LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-15</maturityDt>
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        <name>Surgery Center Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Talen Energy Supply LLC</name>
        <lei>K5K33XN0PQAU1XF7NN66</lei>
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        <name>Tallgrass Energy Partners LP</name>
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        <name>Tallgrass Energy Partners LP</name>
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          <maturityDt>2029-02-15</maturityDt>
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          <annualizedRt>7.37500000</annualizedRt>
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        <name>Tallgrass Energy Partners LP</name>
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        <name>TEGNA, Inc.</name>
        <lei>549300YC5EDBGX85AO10</lei>
        <title>TEGNA, Inc.</title>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Teleflex, Inc.</name>
        <lei>UUL85LWXB4NGSWWXIQ25</lei>
        <title>Teleflex, Inc.</title>
        <cusip>879369AF3</cusip>
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        <name>Somnigroup International, Inc.</name>
        <lei>549300HFEKVR3US71V91</lei>
        <title>Somnigroup International, Inc.</title>
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        <name>Somnigroup International, Inc.</name>
        <lei>549300HFEKVR3US71V91</lei>
        <title>Somnigroup International, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-15</maturityDt>
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        <name>Venture Global LNG, Inc.</name>
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        <name>VICI Properties LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Viking Cruises Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VistaJet Malta Finance plc</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Vistra Operations Co. LLC</name>
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      <invstOrSec>
        <name>VistaJet Malta Finance plc</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>9.50000000</annualizedRt>
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        <name>VoltaGrid LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WMG Acquisition Corp.</name>
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        <name>WR Grace Holdings LLC</name>
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        <name>WBI Operating LLC</name>
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        <name>Wabash National Corp.</name>
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        <name>Wayfair LLC</name>
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        <name>Wayfair LLC</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESCO Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
        <title>WESCO Distribution, Inc.</title>
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          <isin value="US95081QAQ73"/>
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        <balance>4870000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5006501.23000000</valUSD>
        <pctVal>0.232622426521</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WESCO Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
        <title>WESCO Distribution, Inc.</title>
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          <isin value="US95081QAS30"/>
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        <curCd>USD</curCd>
        <valUSD>2721240.81000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WESCO Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
        <title>WESCO Distribution, Inc.</title>
        <cusip>95081QAT1</cusip>
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          <isin value="US95081QAT13"/>
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        <balance>945000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>943327.35000000</valUSD>
        <pctVal>0.043830828572</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Williams Scotsman, Inc.</name>
        <lei>549300DAKDS8SCO1OT57</lei>
        <title>Williams Scotsman, Inc.</title>
        <cusip>96949VAL7</cusip>
        <identifiers>
          <isin value="US96949VAL71"/>
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        <balance>1190000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1245872.88000000</valUSD>
        <pctVal>0.057888325433</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WULF Compute LLC</name>
        <lei>N/A</lei>
        <title>WULF Compute LLC</title>
        <cusip>982911AA7</cusip>
        <identifiers>
          <isin value="US982911AA70"/>
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        <balance>5162000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5466630.27000000</valUSD>
        <pctVal>0.254001894713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wynn Resorts Finance LLC</name>
        <lei>N/A</lei>
        <title>Wynn Resorts Finance LLC</title>
        <cusip>983133AA7</cusip>
        <identifiers>
          <isin value="US983133AA70"/>
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        <balance>4870000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4897788.22000000</valUSD>
        <pctVal>0.227571177551</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wynn Resorts Finance LLC</name>
        <lei>N/A</lei>
        <title>Wynn Resorts Finance LLC</title>
        <cusip>983133AC3</cusip>
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          <isin value="US983133AC37"/>
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        <balance>2235000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2413665.90000000</valUSD>
        <pctVal>0.112148742739</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>XPO, Inc.</name>
        <lei>54930096DB9LCLPN7H13</lei>
        <title>XPO, Inc.</title>
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          <isin value="US98379KAA07"/>
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        <balance>3670000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3729002.59000000</valUSD>
        <pctVal>0.173264639543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>XPO, Inc.</name>
        <lei>54930096DB9LCLPN7H13</lei>
        <title>XPO, Inc.</title>
        <cusip>98379KAB8</cusip>
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          <isin value="US98379KAB89"/>
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        <balance>4870000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5060485.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Xerox Corp.</name>
        <lei>4KF48RN45X1OO8UBLY20</lei>
        <title>Xerox Corp.</title>
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          <isin value="US984121CS05"/>
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        <balance>3270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2354400.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Xerox Holdings Corp.</name>
        <lei>5493000Y33XDVO2CXC18</lei>
        <title>Xerox Holdings Corp.</title>
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          <isin value="US98421MAC01"/>
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        <balance>2270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>647624.19000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Labl  dec26</name>
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        <title>Labl  dec26</title>
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          <other otherDesc="Inhouse Asset ID" value="99TYNVJWK"/>
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        <balance>359636.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>357538.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-03-30</ncom:dateSigned>
      <ncom:nameOfApplicant>J.P. Morgan Exchange-Traded Fund Trust</ncom:nameOfApplicant>
      <ncom:signature>Timothy J. Clemens</ncom:signature>
      <ncom:signerName>Timothy J. Clemens</ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
