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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Next Flight Ventures, First Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002308"/>
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        <balance>4650894.64000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
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      <invstOrSec>
        <name>H-CA II, LLC</name>
        <lei>N/A</lei>
        <title>H-CA II, LLC, First Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10000967"/>
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        <balance>1650001.22000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1491271.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>16.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Octagon Investments Partners 36, Ltd.</name>
        <lei>549300S890TBOLY1D042</lei>
        <title>Octagon Investment Partners 36, Ltd.</title>
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        <identifiers>
          <isin value="US67591QAC06"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>804488.00000000</valUSD>
        <pctVal>0.389452640262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canyon Capital CLO Ltd</name>
        <lei>549300W778MFSPI8C872</lei>
        <title>Canyon Capital CLO 2014-1, Ltd.</title>
        <cusip>13875JAJ2</cusip>
        <identifiers>
          <isin value="US13875JAJ25"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>659564.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-30</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SouthStreet Securities Holdings, Inc., Warrants</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10001752"/>
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        <balance>3400.00000000</balance>
        <units>NC</units>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>VBC Spine Opco LLC (DxTx Pain and Spine LLC), Delayed Draw Term Loan</title>
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        <identifiers>
          <ticker value="10002045"/>
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        <balance>619742.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>621803.00000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-14</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SLR Investment Corp.</name>
        <lei>BJOT6DX9ML6BR3Z0O636</lei>
        <title>SLR Investment Corp.</title>
        <cusip>83413U100</cusip>
        <identifiers>
          <isin value="US83413U1007"/>
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        <balance>115211.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Upstream Rehabilitation, Inc.</name>
        <lei>549300Q4K2W4R1EBTH48</lei>
        <title>Upstream Rehabilitation, Inc., Second Lien Term Loan</title>
        <cusip>91678HAE2</cusip>
        <identifiers>
          <other otherDesc="EXTERNAL IDENTIFIER" value="LX183353"/>
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        <balance>7500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5350012.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.89080000</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>N/A</name>
        <lei>N/A</lei>
        <title>VBC Spine Opco LLC (DxTx Pain and Spine LLC), First Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002044"/>
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        <balance>1891611.85000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1878748.89000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.45200000</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>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Fulcrum US Holdings, Inc., Revolver</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="Advizex"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4000000.00000000</valUSD>
        <pctVal>1.936399997328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>13.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Diamanti</name>
        <lei>N/A</lei>
        <title>Diamanti, Inc., Subordinated Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10001586"/>
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        <balance>4262544.27000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>4312416.04000000</valUSD>
        <pctVal>2.087640602084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>15.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Jmp Credit Advisors Clo Ltd</name>
        <lei>2549000IZRZZJ8TS9W23</lei>
        <title>JMP Credit Advisors CLO V, Ltd.</title>
        <cusip>466271AD5</cusip>
        <identifiers>
          <ticker value="10001291"/>
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        <balance>4486425.72000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>188878.52000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-17</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Money Transfer Acquisition Inc., First Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10001856"/>
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        <balance>5963862.75000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5839814.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.67490000</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>Copper Property Ctl Pass Through Trust</name>
        <lei>N/A</lei>
        <title>Copper Property CTL Pass Through Trust</title>
        <cusip>217519107</cusip>
        <identifiers>
          <isin value="US2175191079"/>
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        <balance>319520.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <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>Cion Investment Corp</name>
        <lei>549300XN70JLF94XKX80</lei>
        <title>CION Investment Corp.</title>
        <cusip>17259U204</cusip>
        <identifiers>
          <isin value="US17259U2042"/>
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        <balance>120800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1250280.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Florida Food Products LLC</name>
        <lei>N/A</lei>
        <title>Florida Food Products LLC, Second Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10001273"/>
          <other otherDesc="EXTERNAL IDENTIFIER" value="LX198939"/>
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        <balance>5652173.91000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4253260.87000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>12.56080000</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>N/A</name>
        <lei>N/A</lei>
        <title>Newbury Franklin Industrials, LLC, Delayed Draw Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002709"/>
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        <balance>0.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-12336.00000000</valUSD>
        <pctVal>-0.00597185759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-11</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>DxTx Pain and Spine LLC, Common Units</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002047"/>
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        <balance>98854.03000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Phoenix Finance, Inc., First Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="Phoenifi"/>
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        <balance>829015.54000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>829015.54000000</valUSD>
        <pctVal>0.401326422360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-14</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>American Academy Holdings</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <ticker value="10001493"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BrightPet</name>
        <lei>N/A</lei>
        <title>BrightPet, Revolver</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10000920"/>
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        <balance>508475.96000000</balance>
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        <curCd>USD</curCd>
        <valUSD>499475.94000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>Spanish Broadcasting Sys</name>
        <lei>5493005DKYB1X4C9LH64</lei>
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          <isin value="US846425AQ94"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>N/A</name>
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          <other otherDesc="INTERNAL ID" value="GCO-PCF"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>MOUNT LOGAN FUNDING 2018-1 LP</name>
        <lei>54930018JSRPYZJUUR90</lei>
        <title>Mount Logan Funding 2018-1 LP</title>
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          <isin value="US62188AAC53"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Kofax, Inc., Second Lien Term Loan</title>
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        <identifiers>
          <ticker value="10001698"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2030-07-20</maturityDt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Diamanti</name>
        <lei>N/A</lei>
        <title>Diamanti, Inc., Class A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10001587"/>
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        <balance>146413.17600000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Warrants that do not meet the definition of a derivative."/>
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        <invCountry>US</invCountry>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>VTX Intermediate Holdings, Inc., First Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002728"/>
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        <balance>1147487.04000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1137503.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Princeton Medspa Partners, LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002517"/>
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        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Warrants that do not meet the definition of a derivative."/>
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        <isRestrictedSec>N</isRestrictedSec>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Riddell Inc</name>
        <lei>N/A</lei>
        <title>Riddell Inc., First Lien Term Loan</title>
        <cusip>76566PAB6</cusip>
        <identifiers>
          <ticker value="10002430"/>
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        <balance>3545454.56000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3545454.56000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BetaNXT, Inc., First Lien Term Loan</title>
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          <ticker value="10001685"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>VTX Intermediate Holdings, Inc., Second Lien Term Loan</title>
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        <identifiers>
          <ticker value="10002729"/>
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        <balance>1855534.71000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Hunter Point Capital Structured Notes Issuer, LLC, Subordinated Delayed Draw Notes</title>
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        <identifiers>
          <ticker value="10001717"/>
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        <balance>2319510.47000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-15</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Aperture Dodge 18 LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10001700"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Epic Staffing</name>
        <lei>N/A</lei>
        <title>Epic Staffing Group, First Lien Term Loan</title>
        <cusip>N/A</cusip>
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          <ticker value="10001676"/>
          <other otherDesc="EXTERNAL IDENTIFIER" value="LX205939"/>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>US BANK MMDA - USBGFS 9</title>
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          <ticker value="8AMMF0JA"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Monroe Capital Private Credit Fund III LP</title>
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          <other otherDesc="INTERNAL ID" value="MON-PCF"/>
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        <balance>8646147.41050000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>N/A</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Pelham S2K SBIC II, L.P.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10001834"/>
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        <balance>359630.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>356545.09000000</valUSD>
        <pctVal>0.172603477830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Great Lakes Funding II LLC, Series A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="1000177"/>
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        <balance>553519.91000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>391097.64000000</valUSD>
        <pctVal>0.189330367262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ancile Solutions, Inc.</name>
        <lei>N/A</lei>
        <title>Ancile Solutions, Inc., First Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10001153"/>
        </identifiers>
        <balance>3410779.78000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3410779.78000000</valUSD>
        <pctVal>1.651158489220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EJF Financial Debt Strategies Fund LP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002552"/>
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        <balance>750000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>FS KKR Capital Corp</name>
        <lei>549300TYRSI1T21B1360</lei>
        <title>FS KKR Capital Corp.</title>
        <cusip>302635206</cusip>
        <identifiers>
          <isin value="US3026352068"/>
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        <balance>105137.00020000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2202620.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GreenPark Infrastructure</name>
        <lei>N/A</lei>
        <title>GreenPark Infrastructure, LLC Series M-1</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10001665"/>
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        <balance>2564.80000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>878444.00000000</valUSD>
        <pctVal>0.425254739813</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Opportunistic Credit Interval Fund</name>
        <lei>549300NJWLK76QJGNF34</lei>
        <title>Opportunistic Credit Interval Fund</title>
        <cusip>68390R105</cusip>
        <identifiers>
          <isin value="US68390R1059"/>
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        <balance>362836.69500000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4165365.26000000</valUSD>
        <pctVal>2.016453319584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>DeltaDx Limited, LP - Barri/Dolex</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002438"/>
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        <balance>358368.78000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>352097.33000000</valUSD>
        <pctVal>0.170450317217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>15.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Colonnade Intermediate, LLC, First Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10001838"/>
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        <balance>153678.50000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>110033.81000000</valUSD>
        <pctVal>0.053267367347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Riddell Inc</name>
        <lei>N/A</lei>
        <title>Riddell Inc., Delayed Draw Term Loan</title>
        <cusip>76566PAC4</cusip>
        <identifiers>
          <ticker value="10002432"/>
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        <balance>0.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-29</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>8th Avenue Food &amp; Provisions, Inc.</name>
        <lei>549300PBCACU45IZ2V05</lei>
        <title>8th Avenue Food &amp; Provisions, Inc., Second Lien Senior Secured Term Loan</title>
        <cusip>28253PAD1</cusip>
        <identifiers>
          <other otherDesc="EXTERNAL IDENTIFIER" value="LX175828"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2315237.50000000</valUSD>
        <pctVal>1.120806472203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.18830000</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>Ejf Crt 2024-r1 Llc</name>
        <lei>254900Q5DC1FD685WY23</lei>
        <title>EJF CRT 2024-R1 LLC</title>
        <cusip>282930AA4</cusip>
        <identifiers>
          <isin value="US282930AA49"/>
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        <balance>2103885.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2103885.08000000</valUSD>
        <pctVal>1.018490765823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.12000000</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>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>PhyNet Dermatology LLC, Delayed Draw Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002246"/>
        </identifiers>
        <balance>0.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11690.00000000</valUSD>
        <pctVal>0.005659128992</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00000000</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>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Phillips Feed Service, Inc., First Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL ID" value="2131-800"/>
        </identifiers>
        <balance>5250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4464075.00000000</valUSD>
        <pctVal>2.161058704519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.42490000</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>
        <name>Vortex Opco Llc</name>
        <lei>N/A</lei>
        <title>VORTEX OPCO, LLC, First Lien Term Loan (First Out)</title>
        <cusip>G9158TAC4</cusip>
        <identifiers>
          <other otherDesc="EXTERNAL IDENTIFIER" value="LX242373"/>
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        <balance>720000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>740098.80000000</valUSD>
        <pctVal>0.358281828585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.55000000</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>N/A</name>
        <lei>N/A</lei>
        <title>Irradiant Intermediate Holdings, LP, Delayed Draw Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002040"/>
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        <balance>0.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.90000000</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>Arrow Purchaser Inc.</name>
        <lei>N/A</lei>
        <title>Arrow Purchaser, Inc., First Lien Initial Term Loan</title>
        <cusip>00160KAB7</cusip>
        <identifiers>
          <ticker value="10000969"/>
          <other otherDesc="EXTERNAL IDENTIFIER" value="LX193196"/>
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        <balance>2041666.71000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1857916.71000000</valUSD>
        <pctVal>0.899417478070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.19000000</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>Monitronics International Incorporated</name>
        <lei>SCAKOG18M6QWWML8YF46</lei>
        <title>Monitronics - Escrow</title>
        <cusip>609ESCAB4</cusip>
        <identifiers>
          <ticker value="609ESCAB"/>
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        <balance>2650000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-31</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>DCert Buyer, Inc.</name>
        <lei>549300EF826JEEUCHZ67</lei>
        <title>DCert Buyer, Inc. First Amendment Term Loan Refinancing, Second Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="EXTERNAL IDENTIFIER" value="LX192846"/>
        </identifiers>
        <balance>3600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2943000.00000000</valUSD>
        <pctVal>1.424706298034</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.32490000</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>Jmp Credit Advisors Clo Ltd</name>
        <lei>54930013XSXE4PJVBQ28</lei>
        <title>JMP Credit Advisors CLO IV, Ltd.</title>
        <cusip>46647XAD1</cusip>
        <identifiers>
          <isin value="US46647XAD12"/>
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        <balance>4836539.92000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>161540.43000000</valUSD>
        <pctVal>0.078201722055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</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>N/A</name>
        <lei>N/A</lei>
        <title>Tree Line Credit Strategies LP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL ID" value="TRE-PCF"/>
        </identifiers>
        <balance>19090684.77300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18498720.82000000</valUSD>
        <pctVal>8.955230736609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>GSO Credit Alpha Fund II LP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL ID" value="GSO-PCF"/>
        </identifiers>
        <balance>16807289.82980000</balance>
        <units>NS</units>
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      <invstOrSec>
        <name>Portman Ridge Finance Corp</name>
        <lei>254900YM5BVQKA01I468</lei>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="10001751"/>
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        <balance>2700000.00000000</balance>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</annualizedRt>
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      <invstOrSec>
        <name>Saranac CLO LTD</name>
        <lei>5493000RC2FP2JRHW627</lei>
        <title>Saranac CLO VII, Ltd.</title>
        <cusip>80316QAA1</cusip>
        <identifiers>
          <isin value="US80316QAA13"/>
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        <balance>502679.26000000</balance>
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        <curCd>USD</curCd>
        <valUSD>109310.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-20</maturityDt>
          <couponKind>Floating</couponKind>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Newbury Franklin Industrials, LLC, First Lien Term Loan </title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002710"/>
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        <balance>4003125.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3903046.88000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
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        <debtSec>
          <maturityDt>2029-12-11</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.18370000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Next Flight Ventures, Delayed Draw Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002309"/>
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        <balance>992203.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>970196.00000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-26</maturityDt>
          <couponKind>Floating</couponKind>
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          <isPaidKind>Y</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Project Castle Inc</name>
        <lei>N/A</lei>
        <title>Material Handling Systems, Inc., First Lien Term Loan</title>
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        <identifiers>
          <ticker value="10001663"/>
          <other otherDesc="EXTERNAL IDENTIFIER" value="LX204743"/>
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        <balance>1887263.16000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1606060.95000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Marvel APS, Delayed Draw Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002278"/>
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        <balance>3449767.56000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GreenPark Infrastructure</name>
        <lei>N/A</lei>
        <title>GreenPark Infrastructure, LLC Series A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10001664"/>
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        <balance>400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>200000.00000000</valUSD>
        <pctVal>0.096819999866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>PMP OPCO, LLC, Delayed Draw Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="PMPDTL"/>
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        <balance>0.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-39066.00000000</valUSD>
        <pctVal>-0.01891185057</pctVal>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2029-05-31</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>Princeton Medspa Partners, LLC</title>
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          <ticker value="10002519"/>
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        <units>NC</units>
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        <valUSD>0.00000000</valUSD>
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              <counterpartyName>Company Direct</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>PMP OPCO, LLC, Revolver</title>
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          <ticker value="PMPORC"/>
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      <invstOrSec>
        <name>Ivanti Software (FKA LANDESK)</name>
        <lei>254900GHAXAYKWDX9F60</lei>
        <title>Ivanti Software, Inc., Second Lien Initial Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10001293"/>
          <other otherDesc="EXTERNAL IDENTIFIER" value="LX199509"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1723120.00000000</valUSD>
        <pctVal>0.834162390849</pctVal>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Spectrio</name>
        <lei>N/A</lei>
        <title>Spectrio, First Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10000913"/>
        </identifiers>
        <balance>2809002.07060000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2535124.37000000</valUSD>
        <pctVal>1.227253705824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-09</maturityDt>
          <couponKind>Floating</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BrightPet</name>
        <lei>N/A</lei>
        <title>BrightPet, First Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10000853"/>
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        <balance>1954643.73000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1920046.54000000</valUSD>
        <pctVal>0.929494528731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.43690000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Cor Leonis Limited, Revolver</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002015"/>
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        <balance>2456339.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2456339.00000000</valUSD>
        <pctVal>1.189113708259</pctVal>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Vortex Opco Llc</name>
        <lei>N/A</lei>
        <title>Vortex Opco, LLC</title>
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          <isin value="US92905YAA64"/>
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        <balance>3135000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>752400.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-30</maturityDt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>White Oak Equipment Finance 1, LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL ID" value="2331-800"/>
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        <balance>1174080.21690000</balance>
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        <curCd>USD</curCd>
        <valUSD>1174080.22000000</valUSD>
        <pctVal>0.568372233717</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Equipment Financing"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.75000000</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>Vortex Opco Llc</name>
        <lei>N/A</lei>
        <title>VORTEX OPCO, LLC, First Lien Term Loan (Second Out)</title>
        <cusip>G9158TAD2</cusip>
        <identifiers>
          <other otherDesc="EXTERNAL IDENTIFIER" value="LX242374"/>
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        <balance>1579879.08000000</balance>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EBSC Holdings LLC, Preferred</title>
        <cusip>N/A</cusip>
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          <ticker value="10002481"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Ares Capital Corp</name>
        <lei>WEQ82666OJYSI5GUAB47</lei>
        <title>Ares Capital Corp.</title>
        <cusip>04010L103</cusip>
        <identifiers>
          <isin value="US04010L1035"/>
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        <balance>117223.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2597661.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>VBC Spine Opco LLC (DxTx Pain and Spine LLC), Revolver</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002046"/>
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        <balance>0.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-1645.00000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>American Academy Holdings</name>
        <lei>N/A</lei>
        <title>American Academy Holdings. Inc., Common Units</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10001618"/>
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        <balance>0.04650000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>278038.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Franklin BSP Capital Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002636"/>
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        <balance>66100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>933786.04000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Needle Holdings Llc</name>
        <lei>N/A</lei>
        <title>Needle Holdings LLC, First Lien Term Loan</title>
        <cusip>63988HAH9</cusip>
        <identifiers>
          <ticker value="63988HA"/>
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        <balance>2354541.63000000</balance>
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        <curCd>USD</curCd>
        <valUSD>623953.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>American Academy Holdings, LLC, Delayed Draw Term Loan</title>
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        <identifiers>
          <ticker value="10002484"/>
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        <balance>408721.48010000</balance>
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        <curCd>USD</curCd>
        <valUSD>432222.97000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>14.18940000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Next Flight Ventures</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002310"/>
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        <balance>88.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mount Logan Funding Lp</name>
        <lei>54930018JSRPYZJUUR90</lei>
        <title>Mount Logan Funding 2018-1 LP</title>
        <cusip>62188AAC5</cusip>
        <identifiers>
          <isin value="US62188AAC53"/>
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        <balance>4798575.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2886342.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>22.14000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Penn Foster</name>
        <lei>N/A</lei>
        <title>Pennfoster</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10000833"/>
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        <balance>5670969.01000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5545073.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>15.19000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WhiteHorse Finance Inc</name>
        <lei>5493006LP9COIV2ZIB05</lei>
        <title>WhiteHorse Finance, Inc.</title>
        <cusip>96524V106</cusip>
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          <isin value="US96524V1061"/>
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        <balance>207328.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2000715.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>VTX Holdings, LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002730"/>
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        <balance>932474.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>American Academy Holdings, LLC, First Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002483"/>
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        <balance>2059955.90000000</balance>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-30</maturityDt>
          <couponKind>Floating</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Spectrio, Delayed Draw Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002319"/>
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        <balance>1171699.52350000</balance>
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        <curCd>USD</curCd>
        <valUSD>1057458.82000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.31320000</annualizedRt>
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      <invstOrSec>
        <name>Vision Solutions Inc.</name>
        <lei>N/A</lei>
        <title>Precisely Software Incorporated, Second Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL ID" value="SELY-800"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2898120.00000000</valUSD>
        <pctVal>1.402979890064</pctVal>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.80240000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Tralee CLO Ltd</name>
        <lei>549300KVMYUNBMVPNK19</lei>
        <title>Tralee CLO II, Ltd.</title>
        <cusip>89289UAY4</cusip>
        <identifiers>
          <isin value="US89289UAY47"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>796999.00000000</valUSD>
        <pctVal>0.385827215367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-20</maturityDt>
          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Accurate Background, LLC, First Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10001735"/>
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        <balance>1462500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1450507.50000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-26</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.56080000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>American Academy Holdings</name>
        <lei>N/A</lei>
        <title>American Academy Holdings. Inc., Preferred Units</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10001691"/>
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        <balance>90970.35000000</balance>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>18.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>NFV Co-Pilot, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002311"/>
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        <balance>441.00000000</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>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>PocketWatch, Inc., First Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002761"/>
        </identifiers>
        <balance>1372649.14000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1386512.90000000</valUSD>
        <pctVal>0.671210893964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>16.00000000</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>N/A</name>
        <lei>N/A</lei>
        <title>PhyNet Dermatology LLC, First Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="10002245"/>
        </identifiers>
        <balance>1936095.89100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1928932.34000000</valUSD>
        <pctVal>0.933796144505</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.79320000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <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>2025-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Alternative Credit Income Fund</ncom:nameOfApplicant>
      <ncom:signature>Brandon Satoren</ncom:signature>
      <ncom:signerName>Brandon Satoren</ncom:signerName>
      <ncom:title>Chief Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
