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        <balance>1125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>498166.38000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BLACKROCK MT HOOD CLO LLC</name>
        <lei>549300N3N5OOLMSHXG32</lei>
        <title>Blackrock MT Hood CLO X LLC </title>
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          <isin value="US09263GBN60"/>
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        <balance>14156875.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14181516.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BlackRock Maroon Bells CLO XI LLC </title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US09290EAQ26"/>
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        <balance>14500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14738919.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.67454080</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Brightwood Capital MM CLO 2023-1 Ltd./ Brightwood Capital MM CLO 2023-1 LLC</name>
        <lei>254900KA4G802DSTDW29</lei>
        <title>Brightwood Capital MM CLO 2023-1 Ltd. </title>
        <cusip>108929AG5</cusip>
        <identifiers>
          <isin value="US108929AG50"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10048013.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.15164080</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brightwood Capital Mm CLO 2019-1 Ltd.</name>
        <lei>2549001FP00M2YWJYD98</lei>
        <title>Brightwood Capital MM CLO Ltd. </title>
        <cusip>10948TAB6</cusip>
        <identifiers>
          <isin value="US10948TAB61"/>
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        <balance>18000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18156288.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.17454120</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Brightwood Cap MM Clo 2024-2 Ltd. / Brightwood Cap MM Clo 2024-2 LLC</name>
        <lei>2549000G72BYQPXZVH78</lei>
        <title>Brightwood Capital MM CLO Ltd. </title>
        <cusip>10950CAA0</cusip>
        <identifiers>
          <isin value="US10950CAA09"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5065057.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.45453840</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CHURCHILL MIDDLE MKT 2019-4R</name>
        <lei>N/A</lei>
        <title>Churchill Middle Market CLO Ltd. </title>
        <cusip>171510AE0</cusip>
        <identifiers>
          <isin value="US171510AE06"/>
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        <balance>16000000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.99980080</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ELDRIDGE MMPC CLO 2025-2 LTD</name>
        <lei>N/A</lei>
        <title>Eldridge MMPC CLO 2025-2 Ltd. </title>
        <cusip>28473KAA2</cusip>
        <identifiers>
          <isin value="US28473KAA25"/>
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        <balance>11800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11800000.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.57879080</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>First American Funds Inc.</name>
        <lei>549300J5J5SJCZ9IA369</lei>
        <title>First American Government Obligations Fund </title>
        <cusip>31846V336</cusip>
        <identifiers>
          <isin value="US31846V3362"/>
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        <balance>1539374.81000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1539374.81000000</valUSD>
        <pctVal>0.221722282743</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FORT CR OPP XIX CLO LD 2022-19</name>
        <lei>N/A</lei>
        <title>Fortress Credit Opportunities XIX CLO LLC </title>
        <cusip>34964RAY9</cusip>
        <identifiers>
          <isin value="US34964RAY99"/>
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        <balance>14000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14204745.80000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.90454120</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fortress Credit Opportunities XXI CLO LLC</name>
        <lei>254900WDNXJI5BDB6170</lei>
        <title>Fortress Credit Opportunities XXI CLO LLC </title>
        <cusip>34964UAY2</cusip>
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          <isin value="US34964UAY29"/>
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        <balance>14000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14169475.60000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.11996080</annualizedRt>
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      <invstOrSec>
        <name>FORTRESS CREDIT OPPORTUNITIES VIII</name>
        <lei>254900KZQWTE1I0BOK24</lei>
        <title>Fortress Credit Opportunities VIII CLO LLC </title>
        <cusip>34966DBH4</cusip>
        <identifiers>
          <isin value="US34966DBH44"/>
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        <balance>10000000.00000000</balance>
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        <valUSD>10077187.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-22</maturityDt>
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          <annualizedRt>10.80735120</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FORTRESS CR OPPORT CLO 2024-25</name>
        <lei>254900LX330DUDQM5Y53</lei>
        <title>Fortress Credit Opportunities XXV CLO LLC </title>
        <cusip>34966QAL7</cusip>
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        <balance>4000000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.40454080</annualizedRt>
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      <invstOrSec>
        <name>Great Lakes CLO 2015-1 Ltd. / Great Lakes CLO 2015-1 LLC</name>
        <lei>254900UMQFTNXVG0A761</lei>
        <title>Great Lakes CLO 2015-1 Ltd. </title>
        <cusip>39055UAG0</cusip>
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          <isin value="US39055UAG04"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-16</maturityDt>
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          <annualizedRt>11.51524080</annualizedRt>
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      <invstOrSec>
        <name>GREAT LAKES CLO V LTD</name>
        <lei>254900AVSVOV2EDKZV91</lei>
        <title>Great Lakes CLO V Ltd </title>
        <cusip>39056LAE4</cusip>
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          <isin value="US39056LAE48"/>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-15</maturityDt>
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          <annualizedRt>10.65453840</annualizedRt>
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      <invstOrSec>
        <name>Great Lakes CLO 2019-1 Ltd. / Great Lakes CLO 2019-1 LLC</name>
        <lei>2549000VKJWRC8TSA617</lei>
        <title>Great Lakes CLO 2019-1 Ltd. </title>
        <cusip>39057PAG9</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Great Lakes Clo Vi LLC</name>
        <lei>254900RS9ORCRVTFF820</lei>
        <title>Great Lakes CLO VI LLC </title>
        <cusip>39057WAV1</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-15</maturityDt>
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          <annualizedRt>11.72454120</annualizedRt>
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      <invstOrSec>
        <name>GREAT LAKES CLO IX LTD</name>
        <lei>254900GD0BIHJ4BVAE98</lei>
        <title>Great Lakes CLO IX Ltd. </title>
        <cusip>390924AA6</cusip>
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          <isin value="US390924AA63"/>
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        <balance>9000000.00000000</balance>
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        <valUSD>9042411.60000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.62384840</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>GUGGENHEIM MM CLO 2019-2. LTD</name>
        <lei>N/A</lei>
        <title>Guggenheim Corporate Funding </title>
        <cusip>40171BAF1</cusip>
        <identifiers>
          <isin value="US40171BAF13"/>
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        <balance>7500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7568486.25000000</valUSD>
        <pctVal>1.090119207722</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.96798120</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GUGGENHEIM MM CLO 2021-4 LTD</name>
        <lei>254900FJRBAK7D39XU52</lei>
        <title>Guggenheim MM CLO 2021-4 Ltd. </title>
        <cusip>40173FAA1</cusip>
        <identifiers>
          <isin value="US40173FAA12"/>
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        <balance>11880000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12233608.20000000</valUSD>
        <pctVal>1.762055295874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.17289160</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>GUGGENHEIM INVTS PRI DEBT FD IV</name>
        <lei>254900VX0IR9LB25SX96</lei>
        <title>Guggenheim Invest Private Dbt Fd IV Feeder LLC </title>
        <cusip>40190AAU7</cusip>
        <identifiers>
          <isin value="US40190AAU79"/>
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        <balance>12111729.11000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12111729.11000000</valUSD>
        <pctVal>1.744500565293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Debt tranche in feeder fund investment"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.55430080</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>GUGGENHEIM INVTS PRI DEBT FD IV</name>
        <lei>254900VX0IR9LB25SX96</lei>
        <title>Guggenheim Invest Private Dbt Fd IV Feeder LLC </title>
        <cusip>40190ABA0</cusip>
        <identifiers>
          <isin value="US40190ABA07"/>
        </identifiers>
        <balance>18167593.66000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17895079.76000000</valUSD>
        <pctVal>2.577499585217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Debt tranche in feeder fund investment"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.69429840</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>HPS PRIVATE CREDIT CLO 2024-2  LLC</name>
        <lei>5493000G5SCTMJLGAQ46</lei>
        <title>HPS Private Credit CLO </title>
        <cusip>40443QAJ2</cusip>
        <identifiers>
          <isin value="US40443QAJ22"/>
        </identifiers>
        <balance>16000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16183995.20000000</valUSD>
        <pctVal>2.331045263536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.97181080</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>HPS PRI CR CLO LLC 2023-1</name>
        <lei>N/A</lei>
        <title>HPS Private Credit CLO 2023-1 LLC </title>
        <cusip>44328JBH3</cusip>
        <identifiers>
          <isin value="US44328JBH32"/>
        </identifiers>
        <balance>16500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16753913.55000000</valUSD>
        <pctVal>2.413132872557</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.28971160</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>JEFFERIES CREDIT PARTNERS DIRECT LENDING CLO 2025-2 LTD</name>
        <lei>N/A</lei>
        <title>Jefferies Cred Prt Drct Clo 2025-2 Ltd. </title>
        <cusip>471922AA2</cusip>
        <identifiers>
          <isin value="US471922AA22"/>
        </identifiers>
        <balance>9000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9000000.00000000</valUSD>
        <pctVal>1.296305832556</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-20</maturityDt>
          <couponKind>Floating</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>JEFFERIES CR CLO 2024-I LTD/LLC</name>
        <lei>N/A</lei>
        <title>Jefferies Credit Partners Direct Lending CLO Ltd. </title>
        <cusip>47234UAA0</cusip>
        <identifiers>
          <isin value="US47234UAA07"/>
        </identifiers>
        <balance>4200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4259344.74000000</valUSD>
        <pctVal>0.613490381036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.10798080</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>JEFFERIES CREDIT PARTNERS DIRECT LENDING CLO 2025-1 LTD</name>
        <lei>213800SOG377Y9E1U217</lei>
        <title>Jefferies Cred Prt Drct Clo 2025-1 Ltd. </title>
        <cusip>47235CAA9</cusip>
        <identifiers>
          <isin value="US47235CAA99"/>
        </identifiers>
        <balance>7000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6999535.20000000</valUSD>
        <pctVal>1.008170922771</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.25555040</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>Kcap Senior Fund</name>
        <lei>N/A</lei>
        <title>Great Lakes Kcap F3c Senior LLC </title>
        <cusip>48669RAE1</cusip>
        <identifiers>
          <isin value="US48669RAE18"/>
        </identifiers>
        <balance>13500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13605624.00000000</valUSD>
        <pctVal>1.959672194086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.45619000</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>LAKE SHORE MM CLO 2021-4R LTD</name>
        <lei>N/A</lei>
        <title>Lake Shore MM CLO IV Ltd. </title>
        <cusip>510758AL9</cusip>
        <identifiers>
          <isin value="US510758AL98"/>
        </identifiers>
        <balance>5488000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5536949.67000000</valUSD>
        <pctVal>0.797508905754</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.46453920</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>Lake Shore MM CLO II Ltd. </title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US510759AC72"/>
        </identifiers>
        <balance>18000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18159003.00000000</valUSD>
        <pctVal>2.615513500257</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.53162880</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>LAKE SHORE MM CLO V LLC</name>
        <lei>N/A</lei>
        <title>Lake Shore MM CLO V LLC </title>
        <cusip>51076LAE5</cusip>
        <identifiers>
          <isin value="US51076LAE56"/>
        </identifiers>
        <balance>18800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19241531.16000000</valUSD>
        <pctVal>2.771434341114</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.21454080</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>Mcf Clo Iv Llc</name>
        <lei>549300SYEBIYQWJN7391</lei>
        <title>MCF CLO IV LLC </title>
        <cusip>55280HBU0</cusip>
        <identifiers>
          <isin value="US55280HBU05"/>
        </identifiers>
        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4079725.60000000</valUSD>
        <pctVal>0.587619121167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.71577080</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>MCF CLO VIII LTD / MCF CLO VIII LLC</name>
        <lei>254900KF5QOK0T8H4C54</lei>
        <title>MCF CLO VIII Ltd </title>
        <cusip>55281QAG1</cusip>
        <identifiers>
          <isin value="US55281QAG10"/>
        </identifiers>
        <balance>2675000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2712496.55000000</valUSD>
        <pctVal>0.390691677617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.88443880</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>MCF CLO IX LTD</name>
        <lei>2549007R1O92GDXNLZ38</lei>
        <title>MCF CLO LLC </title>
        <cusip>55282EAE2</cusip>
        <identifiers>
          <isin value="US55282EAE23"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5056375.00000000</valUSD>
        <pctVal>0.728289822677</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.94162840</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>MARANON LOAN FUNDING 2025-1</name>
        <lei>N/A</lei>
        <title>Maranon Loan Funding Ltd. </title>
        <cusip>56575QAA7</cusip>
        <identifiers>
          <isin value="US56575QAA76"/>
        </identifiers>
        <balance>7000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7055773.90000000</valUSD>
        <pctVal>1.016271206641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Maranon Loan Funding 2023-1 Ltd. / Maranon Loan Funding 2023-1 LLC</name>
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        <title>Maranon Loan Funding 2023-1 Ltd. </title>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Maranon Loan Funding 2021-3 Ltd.</name>
        <lei>N/A</lei>
        <title>Maranon Loan Funding Ltd. </title>
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          <isin value="US56577NBA19"/>
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        <curCd>USD</curCd>
        <valUSD>20048707.73000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <maturityDt>2036-10-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="US56582HAA86"/>
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        <balance>19800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20177799.84000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <maturityDt>2037-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.65453840</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Monroe Capital Mml Clo</name>
        <lei>635400TBPZJGNQT3WB33</lei>
        <title>Monroe Capital MML CLO XV LLC </title>
        <cusip>61033YBG2</cusip>
        <identifiers>
          <isin value="US61033YBG26"/>
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        <balance>4315000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4336022.25000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-23</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MONROE CAPMML CLO LTD 2024-16</name>
        <lei>N/A</lei>
        <title>Monroe Capital MML CLO Ltd. </title>
        <cusip>61034EAA9</cusip>
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          <isin value="US61034EAA91"/>
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        <balance>28000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28369597.20000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <maturityDt>2036-07-23</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MONR CAP CLO VIII LTD 2019-8R</name>
        <lei>254900CN59JSSABI7X69</lei>
        <title>Monroe Capital MML CLO VIII Ltd. </title>
        <cusip>61034TAE8</cusip>
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          <isin value="US61034TAE82"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-22</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Monroe Capital MML Clo 2017-1 Ltd.</name>
        <lei>5493006UQZL8BZLQCE22</lei>
        <title>Monroe Capital Mml Clo X Ltd. </title>
        <cusip>61034UBA2</cusip>
        <identifiers>
          <isin value="US61034UBA25"/>
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        <balance>16000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16436486.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.63895840</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>MONROE CAP MML CLO XVII LTD/LLC</name>
        <lei>2138003NTU878X7J9T41</lei>
        <title>Monroe Capital Mml Clo XVII Ltd. </title>
        <cusip>61035GAA3</cusip>
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          <isin value="US61035GAA31"/>
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        <balance>14000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14226095.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.81333880</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>MOUNT LOGAN FUNDING 2018-1 LP</name>
        <lei>54930018JSRPYZJUUR90</lei>
        <title>Mount Logan Funding LP </title>
        <cusip>62188AAA9</cusip>
        <identifiers>
          <isin value="US62188AAA97"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2017853.20000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-22</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <balance>6000000.00000000</balance>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Tcp Whitney Clo Ltd / Tcp Whit</name>
        <lei>549300HQR4ENRKHLM113</lei>
        <title>TCP Whitney CLO Ltd. </title>
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          <isin value="US87240GAL59"/>
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        <balance>17050000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17568430.83000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-20</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>VCP RRL ABS II LTD</name>
        <lei>N/A</lei>
        <title>VCP RRL ABS II Ltd. </title>
        <cusip>91824XBA7</cusip>
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          <isin value="US91824XBA72"/>
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        <balance>10344964.87000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10299261.85000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-20</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>VCP RRL ABS IV LLC</name>
        <lei>N/A</lei>
        <title>VCP RRL ABS IV LLC </title>
        <cusip>91825NAJ0</cusip>
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          <isin value="US91825NAJ00"/>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>WOODMONT 2025-13 LP</name>
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        <title>Woodmont 2025-13 LP </title>
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        <balance>12500000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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        <name>MONR CAP CLO VIII LTD 2019-8R</name>
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        <title>Monroe Capital MML Ltd. </title>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <securityLending>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-12-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Flat Rock Enhanced Income Fund</ncom:nameOfApplicant>
      <ncom:signature>Ryan Ripp</ncom:signature>
      <ncom:signerName>Ryan Ripp</ncom:signerName>
      <ncom:title>Co-President, Chief Operating Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
