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        <cusip>749987AA1</cusip>
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          <isin value="US749987AA15"/>
          <ticker value="RAD"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Neuberger Berman CLO Ltd</name>
        <lei>549300LCOEVXWN75LP18</lei>
        <title>NEUB 2021-46A ER</title>
        <cusip>64134RAL9</cusip>
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          <isin value="US64134RAL96"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-01-20</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>Babson CLO Ltd</name>
        <lei>549300KMDW0AZOKOC583</lei>
        <title>BABSN 2024-2A E</title>
        <cusip>067937AA0</cusip>
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          <isin value="US067937AA05"/>
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        <curCd>USD</curCd>
        <valUSD>1013387.60000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-07-15</maturityDt>
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          <annualizedRt>10.15610040</annualizedRt>
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      <invstOrSec>
        <name>Generate CLO Ltd.</name>
        <lei>254900V675MOVWK0HA08</lei>
        <title>GNRT 6A ER2</title>
        <cusip>37148HAC1</cusip>
        <identifiers>
          <isin value="US37148HAC16"/>
          <ticker value="GNRT"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1003398.90000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.52237960</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Carlyle Global Market Strategi</name>
        <lei>N/A</lei>
        <title>CGMS 2021-5A E</title>
        <cusip>14318AAA3</cusip>
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          <isin value="US14318AAA34"/>
          <ticker value="CGMS"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500000.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-20</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>CIFC Funding Ltd</name>
        <lei>N/A</lei>
        <title>CIFC 2021-2A E</title>
        <cusip>12565TAA6</cusip>
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          <isin value="US12565TAA60"/>
          <ticker value="CIFC"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>501147.10000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-15</maturityDt>
          <couponKind>Floating</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Meacham Park CLO, Ltd.</name>
        <lei>254900ZA60EDHY111387</lei>
        <title>MCHPK 2024-1A E</title>
        <cusip>58286RAA1</cusip>
        <identifiers>
          <isin value="US58286RAA14"/>
          <ticker value="MCHPK"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>755470.43000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.61946999</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CBAMR Ltd</name>
        <lei>N/A</lei>
        <title>CBAM 2018-8A E2R</title>
        <cusip>12478FAG9</cusip>
        <identifiers>
          <isin value="US12478FAG90"/>
          <ticker value="CBAMR"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>756111.00000000</valUSD>
        <pctVal>1.820942555592</pctVal>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.62609840</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>OCP CLO Ltd</name>
        <lei>N/A</lei>
        <title>OCP 2024-36A SUB</title>
        <cusip>67119VAC2</cusip>
        <identifiers>
          <isin value="US67119VAC28"/>
          <ticker value="OCP"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>826700.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Madison Park Funding Ltd</name>
        <lei>N/A</lei>
        <title>MDPK 2018-28A ER</title>
        <cusip>55821BAG1</cusip>
        <identifiers>
          <isin value="US55821BAG14"/>
          <ticker value="MDPK"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>985026.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-15</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>OCP CLO Ltd</name>
        <lei>254900V271655KJK1382</lei>
        <title>OCP 2022-25A ER</title>
        <cusip>67116FAQ9</cusip>
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          <isin value="US67116FAQ90"/>
          <ticker value="OCP"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>503599.15000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.11947040</annualizedRt>
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      <invstOrSec>
        <name>Benefit Street Partners CLO Lt</name>
        <lei>549300CIOPBDYOSN3T91</lei>
        <title>BSP 2017-12A SUB</title>
        <cusip>08179JAB2</cusip>
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          <isin value="US08179JAB26"/>
          <ticker value="BSP"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>445750.00000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Apidos CLO Ltd</name>
        <lei>25490046M6DC4604K633</lei>
        <title>APID 2024-48A E</title>
        <cusip>03770XAA7</cusip>
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          <isin value="US03770XAA72"/>
          <ticker value="APID"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>506125.15000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>10.03177080</annualizedRt>
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      <invstOrSec>
        <name>Anchorage Capital CLO LTD</name>
        <lei>5493008M7D1YIDOH2C69</lei>
        <title>ANCHC 2020-16A ER2</title>
        <cusip>03330XAL6</cusip>
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          <isin value="US03330XAL64"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Benefit Street Partners CLO Lt</name>
        <lei>5493001ND55H5MJDIQ39</lei>
        <title>BSP 2019-17A ER2</title>
        <cusip>08182AAG5</cusip>
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          <isin value="US08182AAG58"/>
          <ticker value="BSP"/>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Apidos CLO Ltd</name>
        <lei>549300KJKTO0Q1OATW69</lei>
        <title>APID 2021-35A E</title>
        <cusip>03768TAA0</cusip>
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          <isin value="US03768TAA07"/>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Skechers USA 6/25 (USD) TLB</name>
        <lei>N/A</lei>
        <title>Skechers USA 6/25 (USD) TLB</title>
        <cusip>N/A</cusip>
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        <valUSD>242214.42000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Neuberger Berman CLO Ltd</name>
        <lei>549300VBBLOSKH8XQ869</lei>
        <title>NEUB 2016-21A SUB</title>
        <cusip>64130YAE4</cusip>
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          <isin value="US64130YAE41"/>
          <ticker value="NEUB"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>930566.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>GoldenTree Loan Management US</name>
        <lei>254900NWYEI4MM854T50</lei>
        <title>GLM 2025-25A E</title>
        <cusip>38139YAA7</cusip>
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          <isin value="US38139YAA73"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-04-20</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>Carlyle Global Market Strategi</name>
        <lei>N/A</lei>
        <title>CGMS 2019-3A DRR</title>
        <cusip>14314KAJ6</cusip>
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          <isin value="US14314KAJ60"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-04-20</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>Regatta XXVIII Funding Ltd.</name>
        <lei>N/A</lei>
        <title>REG28 2024-2A E</title>
        <cusip>75901QAA2</cusip>
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          <isin value="US75901QAA22"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-04-25</maturityDt>
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      <invstOrSec>
        <name>Lodi Park CLO Ltd</name>
        <lei>391200GQ88V33AWI7H75</lei>
        <title>LODI 2024-1A E</title>
        <cusip>540365AA1</cusip>
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          <isin value="US540365AA10"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-21</maturityDt>
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          <annualizedRt>9.91946880</annualizedRt>
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      <invstOrSec>
        <name>Nyack Park CLO, Ltd.</name>
        <lei>N/A</lei>
        <title>NYKPK 2021-1A E</title>
        <cusip>67080QAA2</cusip>
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          <isin value="US67080QAA22"/>
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        <balance>980000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-20</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>Benefit Street Partners CLO Lt</name>
        <lei>549300DICNUWMUKL3816</lei>
        <title>BSP 2022-29A ER</title>
        <cusip>08186FAE5</cusip>
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          <isin value="US08186FAE51"/>
          <ticker value="BSP"/>
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        <balance>1150000.00000000</balance>
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        <invCountry>JE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-01-25</maturityDt>
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      <invstOrSec>
        <name>Carlyle Global Market Strategi</name>
        <lei>N/A</lei>
        <title>CGMS 2024-2A E</title>
        <cusip>14319AAA2</cusip>
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          <isin value="US14319AAA25"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>508908.45000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.13176880</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OCP CLO Ltd</name>
        <lei>254900M77QLN2EBJHE11</lei>
        <title>OCP 2017-13A ER2</title>
        <cusip>67097NAJ1</cusip>
        <identifiers>
          <isin value="US67097NAJ19"/>
          <ticker value="OCP"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1000951.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-26</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.16947079</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CIFC Funding Ltd</name>
        <lei>N/A</lei>
        <title>CIFC 2022-4A E</title>
        <cusip>12567XAA5</cusip>
        <identifiers>
          <isin value="US12567XAA54"/>
          <ticker value="CIFC"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>275624.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.26054079</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>ARES CLO Ltd</name>
        <lei>N/A</lei>
        <title>ARES 2022-ALF3A ER</title>
        <cusip>04019PAE5</cusip>
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          <isin value="US04019PAE51"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>502243.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-25</maturityDt>
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      <invstOrSec>
        <name>Dryden Senior Loan Fund</name>
        <lei>254900XGNUOV0Y3IBA68</lei>
        <title>DRSLF 2020-77A ER</title>
        <cusip>26252YAE5</cusip>
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          <isin value="US26252YAE59"/>
          <ticker value="DRSLF"/>
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        <balance>500000.00000000</balance>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-20</maturityDt>
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      <invstOrSec>
        <name>OCP CLO Ltd</name>
        <lei>2549003HLFPQ7ATPYA23</lei>
        <title>OCP 2019-17A ER2</title>
        <cusip>67113MAG9</cusip>
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          <isin value="US67113MAG96"/>
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        <balance>1000000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.51947000</annualizedRt>
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      <invstOrSec>
        <name>Bain Capital Credit CLO, Limit</name>
        <lei>N/A</lei>
        <title>BCC 2022-3A E</title>
        <cusip>05684QAA2</cusip>
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          <isin value="US05684QAA22"/>
          <ticker value="BCC"/>
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        <balance>619357.00000000</balance>
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        <invCountry>JE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-17</maturityDt>
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      <invstOrSec>
        <name>Apidos CLO Ltd</name>
        <lei>635400C39IXGGYE6DH05</lei>
        <title>APID 2015-23A ERR</title>
        <cusip>03766QAJ9</cusip>
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          <isin value="US03766QAJ94"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>998763.90000000</valUSD>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-15</maturityDt>
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          <annualizedRt>9.45609840</annualizedRt>
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      <invstOrSec>
        <name>CIFC Funding Ltd</name>
        <lei>N/A</lei>
        <title>CIFC 2021-5A ER</title>
        <cusip>12565HAE4</cusip>
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          <isin value="US12565HAE45"/>
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        <balance>450000.00000000</balance>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-01-15</maturityDt>
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      <invstOrSec>
        <name>Apidos CLO Ltd</name>
        <lei>254900SZ16B4KDM8N485</lei>
        <title>APID 2024-47A E</title>
        <cusip>03770UAA3</cusip>
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          <isin value="US03770UAA34"/>
          <ticker value="APID"/>
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        <balance>500000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-04-26</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Rad CLO Ltd</name>
        <lei>N/A</lei>
        <title>RAD 2021-10A E</title>
        <cusip>48662MAA7</cusip>
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          <isin value="US48662MAA71"/>
          <ticker value="RAD"/>
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        <balance>457240.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>448130.41000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.39095000</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>OHA Loan Funding Ltd</name>
        <lei>25490072LQI0R2J4XC93</lei>
        <title>OHALF 2015-1A ER3</title>
        <cusip>67109CBE1</cusip>
        <identifiers>
          <isin value="US67109CBE12"/>
          <ticker value="OHALF"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>752059.65000000</valUSD>
        <pctVal>1.811185687060</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.18108160</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>OHA Credit Partners Ltd</name>
        <lei>549300LXLBAFTIMXZT54</lei>
        <title>OAKC 2012-7A ER4</title>
        <cusip>67102UAK5</cusip>
        <identifiers>
          <isin value="US67102UAK51"/>
          <ticker value="OAKC"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>985505.00000000</valUSD>
        <pctVal>2.373392257551</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.82199080</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>Elmwood CLO 27 Ltd</name>
        <lei>N/A</lei>
        <title>ELM27 2024-3A E</title>
        <cusip>29001DAA7</cusip>
        <identifiers>
          <isin value="US29001DAA72"/>
          <ticker value="ELM27"/>
        </identifiers>
        <balance>660000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>665396.56000000</valUSD>
        <pctVal>1.602474917636</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.51947000</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>CIFC Funding Ltd</name>
        <lei>254900SVOWCOSOG16T40</lei>
        <title>CIFC 2019-3A ER2</title>
        <cusip>12554UAG3</cusip>
        <identifiers>
          <isin value="US12554UAG31"/>
          <ticker value="CIFC"/>
        </identifiers>
        <balance>1250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1254115.88000000</valUSD>
        <pctVal>3.020287994138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.26053920</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>AGL CLO Ltd.</name>
        <lei>N/A</lei>
        <title>AGL 2022-21A ER</title>
        <cusip>00120GAG4</cusip>
        <identifiers>
          <isin value="US00120GAG47"/>
          <ticker value="AGL"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>492256.55000000</valUSD>
        <pctVal>1.185501732105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.91946880</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>CIFC Funding Ltd</name>
        <lei>254900RRJV30GDUWIX97</lei>
        <title>CIFC 2019-1A ER</title>
        <cusip>12553BAG6</cusip>
        <identifiers>
          <isin value="US12553BAG68"/>
          <ticker value="CIFC"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>507399.55000000</valUSD>
        <pctVal>1.221970627703</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.01946960</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>CIFC Funding Ltd</name>
        <lei>54930089HD7KU5NUS092</lei>
        <title>CIFC 2021-7A SUB</title>
        <cusip>12567KAC9</cusip>
        <identifiers>
          <isin value="US12567KAC99"/>
          <ticker value="CIFC"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>905100.00000000</valUSD>
        <pctVal>2.179752849868</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Voya CLO Ltd</name>
        <lei>N/A</lei>
        <title>VOYA 2024-7A E</title>
        <cusip>92920UAA5</cusip>
        <identifiers>
          <isin value="US92920UAA51"/>
          <ticker value="VOYA"/>
        </identifiers>
        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>755296.50000000</valUSD>
        <pctVal>1.818980994774</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.53629920</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>OCTAGON XAI CLO INCOME FUND</ncom:nameOfApplicant>
      <ncom:signature>Derek Mullins</ncom:signature>
      <ncom:signerName>Derek Mullins</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
