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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>US FOODS HOLDING CORP</name>
        <lei>5493000JOOFAOUY1JZ87</lei>
        <title>US Foods, Inc.</title>
        <cusip>N/A</cusip>
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          <isin value="US90351HAD08"/>
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        <balance>444375.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>436460.68000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-14</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FRONT RANGE TOPCO INC</name>
        <lei>N/A</lei>
        <title>Zayo Group Holdings, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US98919XAB73"/>
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        <balance>401526.71000000</balance>
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        <curCd>USD</curCd>
        <valUSD>398515.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-09</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SIWF HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Springs Window Fashions</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78489JAD63"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95188.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.65000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>XPLORNET COMMUNICATIONS INC</name>
        <lei>N/A</lei>
        <title>Xplornet Communications Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XAC8614YAB92"/>
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        <balance>249375.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249437.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DJP XX LLC</name>
        <lei>G617XSG94Z7G0RMW3L02</lei>
        <title>Genesee &amp; Wyoming, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US55316HAB15"/>
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        <balance>397994.98370000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>396812.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LIBERTY GLOBAL PLC</name>
        <lei>N/A</lei>
        <title>UPC Financing Partnership</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX189564 1"/>
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        <balance>175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>175087.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.67000000</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>BUCKEYE GP LLC</name>
        <lei>549300C1PQJLVEIUBK50</lei>
        <title>Buckeye Partners LP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX180991 1"/>
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        <balance>397994.98370000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>397187.05000000</valUSD>
        <pctVal>0.968157409267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-02</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALTICE EUROPE NV</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>SFR Group S.A.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XAF6628DAL82"/>
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        <balance>481362.50500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>475797.95000000</valUSD>
        <pctVal>1.159774243915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.85000000</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>EG GROUP LTD</name>
        <lei>2138003OUK4UQHRJLT65</lei>
        <title>EG Finco Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XAN2820EAC20"/>
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        <balance>37964.32780000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37466.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-07</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BOE HOLDING LLC</name>
        <lei>549300DNGHXL0OMHW304</lei>
        <title>BWAY Holding Co.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US05604XAP15"/>
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        <balance>256096.15700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>246812.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-03</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.48000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EMERALD TOPCO INC</name>
        <lei>N/A</lei>
        <title>Emerald TopCo, Inc. (Press Ganey)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US29102TAB89"/>
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        <balance>148125.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>146088.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.71000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>STAR INTERMEDIATE III INC</name>
        <lei>RI37BMPWE56BCJ747E14</lei>
        <title>Dun &amp; Bradstreet</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX190872 1"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>449811.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-06</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EPICOR SOFTWARE CORP</name>
        <lei>JGNXVGGGXR4O1L5I7S73</lei>
        <title>Epicor Software</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX189137 1"/>
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        <balance>125798.44570000</balance>
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        <curCd>USD</curCd>
        <valUSD>126401.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOODPACK LTD</name>
        <lei>5493003ZYID1KN87T037</lei>
        <title>IBC Capital Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US44928QAE98"/>
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        <balance>339403.23110000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>334312.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-11</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.99000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONSTELLATION (BC) SARL</name>
        <lei>N/A</lei>
        <title>Diamond (BC) BV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XAN2611UAC98"/>
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        <balance>291000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>286393.47000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-06</maturityDt>
          <couponKind>Variable</couponKind>
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          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DESERT NEWCO LLC</name>
        <lei>N/A</lei>
        <title>Go Daddy Operating Company LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US38017BAN64"/>
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        <balance>398622.94270000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>398124.66000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>USIC HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>USIC Holding, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US90290HAM43"/>
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        <balance>485325.10430000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>484718.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LPL FINANCIAL HOLDINGS INC</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
        <title>LPL Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SYNEOS HEALTH INC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>API HEAT TRANSFER THERMASYS CORP</name>
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        <title>API Heat Transfer</title>
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        <fairValLevel>3</fairValLevel>
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        <name>WYNDHAM HOTELS &amp; RESORTS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PQ GROUP HOLDINGS INC</name>
        <lei>2H1FRGMQKKSWC9PFJY28</lei>
        <title>PQ Corp.</title>
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          <isin value="US69353FAX24"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-08</maturityDt>
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      <invstOrSec>
        <name>MAVIS TIRE EXPRESS SERVICES CORP</name>
        <lei>N/A</lei>
        <title>Mavis Tire Express Services Corp.</title>
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          <isin value="US57777PAB13"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-20</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>BRAVE PARENT HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Brave Parent Holdings, Inc.</title>
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          <isin value="US10566UAC27"/>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>TITAN ACQUISITION LTD</name>
        <lei>N/A</lei>
        <title>Titan Acquisition Ltd. (Husky)</title>
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          <isin value="XAC8856UAB44"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-28</maturityDt>
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        <name>INGERSOLL RAND INC</name>
        <lei>549300MJL50HVCB7RP74</lei>
        <title>Gardner Denver, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-01</maturityDt>
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        <name>NIELSEN HOLDINGS PLC</name>
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        <name>BRP INC</name>
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        <name>ELANCO ANIMAL HEALTH INC</name>
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        <title>Elanco Animal Health, Inc.</title>
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        <name>JANE STREET GROUP LLC</name>
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        <title>Jane Street Group LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>MH SUB I LLC</name>
        <lei>N/A</lei>
        <title>Internet Brands, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>DAVITA INC</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
        <title>DaVita, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>REECE LTD</name>
        <lei>N/A</lei>
        <title>Reece Ltd.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-04</maturityDt>
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        <name>CATALOG INTERMEDIATE INC</name>
        <lei>4Q9DLX2VIFGJMOYJ4Y35</lei>
        <title>Cambrex Corp.</title>
        <cusip>N/A</cusip>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-04</maturityDt>
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      <invstOrSec>
        <name>VIRTU FINANCIAL INC</name>
        <lei>N/A</lei>
        <title>Virtu Financial, Inc.</title>
        <cusip>N/A</cusip>
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        <balance>430000.00000000</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>2</fairValLevel>
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          <maturityDt>2026-03-01</maturityDt>
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      <invstOrSec>
        <name>ENDO INTERNATIONAL PLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>CENGAGE LEARNING HOLDINGS II INC</name>
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        <title>Cengage Learning Acquisitions, Inc.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>PACTIV EVERGREEN INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ARETEC GROUP INC</name>
        <lei>N/A</lei>
        <title>Aretec Group, Inc.</title>
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          <isin value="US04009DAB01"/>
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        <balance>245000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
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          <annualizedRt>4.40000000</annualizedRt>
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        <name>ALTRA INDUSTRIAL MOTION CORP</name>
        <lei>NQ0NIXPGW4YKG4MWM571</lei>
        <title>Altra Industrial Motion Corp.</title>
        <cusip>N/A</cusip>
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          <isin value="US02208HAB42"/>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.15000000</annualizedRt>
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      <invstOrSec>
        <name>VERTICAL TOPCO SARL</name>
        <lei>N/A</lei>
        <title>Vertical (TK Elevator)</title>
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          <isin value="XAD9000BAB80"/>
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        <balance>99750.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.57000000</annualizedRt>
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        <name>TRANSUNION</name>
        <lei>X8NPN6PWJOM1QCTYFV34</lei>
        <title>Trans Union LLC</title>
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          <other otherDesc="LoanX ID" value="LX183784 1"/>
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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>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.90000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MATTERHORN BUYER LLC</name>
        <lei>549300B7GQ818BSKC852</lei>
        <title>Hearthside Group Holdings LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US40422KAB70"/>
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        <balance>537625.00000000</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>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.83000000</annualizedRt>
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      <invstOrSec>
        <name>PACKAGING COORDINATORS MIDCO INC</name>
        <lei>N/A</lei>
        <title>Packaging Coordinators Midco, Inc.</title>
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          <other otherDesc="LoanX ID" value="LX189979 1"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-30</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>VODAFONE GROUP PLC</name>
        <lei>N/A</lei>
        <title>Ziggo Financing Partnership</title>
        <cusip>N/A</cusip>
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          <isin value="XAN9833RAJ85"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.66000000</annualizedRt>
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        <name>WP CPP HOLDINGS LLC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <name>HOCKEY PARENT HOLDINGS LP</name>
        <lei>549300JQT6ATTUNS5E06</lei>
        <title>HUB International Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US44332EAP16"/>
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        <balance>493686.86740000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-25</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>KRONOS ACQUISITION HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Kronos Acquisition Holdings, Inc.</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FILTRATION GROUP CORP</name>
        <lei>549300ZA0D9WN5ECE978</lei>
        <title>Filtration Group Corp.</title>
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        <balance>185512.41080000</balance>
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        <invCountry>US</invCountry>
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        <name>UNITED AIRLINES HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Mileage Plus Holdings LLC</title>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MCGRAW-HILL EDUCATION INC</name>
        <lei>N/A</lei>
        <title>McGraw-Hill Global Education Holdings LLC</title>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-05-04</maturityDt>
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      <invstOrSec>
        <name>LIBERTY LATIN AMERICA LTD</name>
        <lei>N/A</lei>
        <title>Liberty Cablevision of Puerto Rico LLC</title>
        <cusip>N/A</cusip>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100271.00000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-15</maturityDt>
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          <annualizedRt>5.16000000</annualizedRt>
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      <invstOrSec>
        <name>LIBERTY GLOBAL PLC</name>
        <lei>N/A</lei>
        <title>Virgin Media Bristol LLC</title>
        <cusip>N/A</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>NEXT LIMITED PARTNERSHIP INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BROOKFIELD ASSET MANAGEMENT INC</name>
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          <isin value="XAC8000CAB90"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HAMILTON PROJECTS ACQUIROR LLC</name>
        <lei>N/A</lei>
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          <isin value="US14314VAB99"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-17</maturityDt>
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      <invstOrSec>
        <name>SIWF HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Springs Window Fashions</title>
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          <isin value="US78489JAB08"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>BOXER PARENT CO INC</name>
        <lei>5493006T045HLTF7YX04</lei>
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          <other otherDesc="LoanX ID" value="LX174341 1"/>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LUX NEWCO</name>
        <lei>N/A</lei>
        <title>Froneri US, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-29</maturityDt>
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      <invstOrSec>
        <name>WEBER STEPHEN PRODUCTS LLC</name>
        <lei>N/A</lei>
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          <other otherDesc="LoanX ID" value="LX190374 1"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ABG INTERMEDIATE HOLDINGS 2 LLC</name>
        <lei>N/A</lei>
        <title>Authentic Brands</title>
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          <isin value="US00076VAQ32"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ENDURANCE INTERNATIONAL GROUP HOLDINGS INC</name>
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        <title>EIG Investors Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>AERCAP HOLDINGS NV</name>
        <lei>N/A</lei>
        <title>Delos Finance S.A.R.L (International Lease Finance)</title>
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          <isin value="XAL2324EAE13"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>AI ENTERTAINMENT HOLDINGS LLC</name>
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        <title>WMG Acquisition Corp.</title>
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        <name>RYAN SPECIALTY GROUP LLC</name>
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        <name>ONTARIO TEACHERS PENSION PLAN</name>
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        <title>Alliance Laundry Systems LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>JBS SA</name>
        <lei>N/A</lei>
        <title>JBS USA Lux SA</title>
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          <isin value="US46611VAU98"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</maturityDt>
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        <name>LIBERTY GLOBAL PLC</name>
        <lei>N/A</lei>
        <title>Telenet Financing USD LLC</title>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-28</maturityDt>
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      <invstOrSec>
        <name>BP HOLDCO LLC</name>
        <lei>N/A</lei>
        <title>BP Holdco LLC</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal ID" value="BGH5ZXB51"/>
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        <balance>11609.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GTT COMMUNICATIONS INC</name>
        <lei>N/A</lei>
        <title>GTT Communications, Inc.</title>
        <cusip>N/A</cusip>
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        <name>VECTOR PHOENIX HOLDINGS (CAYMAN) LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AERIAL TOPCO LP</name>
        <lei>N/A</lei>
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        <name>NEXT LIMITED PARTNERSHIP INC</name>
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        <title>Altice US Finance I Corp.</title>
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      <invstOrSec>
        <name>BCP IV GRAFTECH HOLDINGS LP</name>
        <lei>N/A</lei>
        <title>GrafTech Finance, Inc.</title>
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          <isin value="US38431EAB48"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>WHATABRANDS LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-31</maturityDt>
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        <name>BERLIN PACKAGING LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Federated Hermes U.S. Treasury</name>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CHG HEALTHCARE SERVICES INC</name>
        <lei>N/A</lei>
        <title>CHG Healthcare Services, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SOLERA PARENT HOLDING LLC</name>
        <lei>N/A</lei>
        <title>Solera LLC</title>
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        <curCd>USD</curCd>
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        <name>CHEF HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Chef Holdings, Inc.</title>
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        <assetCat>EC</assetCat>
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        <name>LTI HOLDINGS INC</name>
        <lei>N/A</lei>
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        <name>CPI CARD GROUP INC</name>
        <lei>N/A</lei>
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        <name>HAYWARD INDUSTRIES INC</name>
        <lei>N/A</lei>
        <title>Hayward Industries, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>NFP INTERMEDIATE HOLDINGS B CORP</name>
        <lei>VO2L9FZNXDJNQNEYH039</lei>
        <title>NFP Corp.</title>
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        <name>INFORMATICA HOLDCO 2 LLC</name>
        <lei>5493007SV33RZV7RPS40</lei>
        <title>Informatica LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MILLENNIUM PARK TOPCO LLC</name>
        <lei>N/A</lei>
        <title>Market Track LLC</title>
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        <balance>193500.00000000</balance>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-06-05</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>MESSER INDUSTRIES USA INC</name>
        <lei>N/A</lei>
        <title>Messer Industries USA, Inc.</title>
        <cusip>N/A</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KKR SIGMA AGGREGATOR LP</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>VISUAL COMFORT GROUP INC</name>
        <lei>N/A</lei>
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          <isin value="US91822UAG31"/>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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        <name>NAVISTAR INTERNATIONAL CORPORATION</name>
        <lei>N/A</lei>
        <title>Navistar Inc.</title>
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          <isin value="US63937YAE14"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>CHARTER NEX US HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Charter Nex US Holdings, Inc.</title>
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          <other otherDesc="LoanX ID" value="LX190926 1"/>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
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      <invstOrSec>
        <name>API HEAT TRANSFER THERMASYS CORP</name>
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        <title>API Heat Transfer</title>
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          <isin value="US00189AAB61"/>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2024-01-01</maturityDt>
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        <name>TRANSDIGM GROUP INC</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-30</maturityDt>
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      <invstOrSec>
        <name>BEAR PARENT INC</name>
        <lei>N/A</lei>
        <title>Belk, Inc.</title>
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          <isin value="US07384DAC65"/>
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        <balance>67355.92030000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-31</maturityDt>
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        <name>CAMBRIDGE INFORMATION GROUP INC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ATD CORP</name>
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        <title>American Tire Distributors, Inc.</title>
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        <name>API HEAT TRANSFER THERMASYS CORP</name>
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        <name>SAMSONITE INTERNATIONAL SA</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>PLAYTIKA HOLDING CORP</name>
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        <name>DELTA AIR LINES INC</name>
        <lei>Q2CCMS6R0AS67HJMBN42</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ADT SECURITY CORP</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>ATD CORP</name>
        <lei>HZ8T88YVE2JVXJ0BTQ24</lei>
        <title>American Tire Distributors, Inc.</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-02</maturityDt>
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      <invstOrSec>
        <name>ABC SUPPLY HOLDING CORP</name>
        <lei>N/A</lei>
        <title>American Builders &amp; Contractors Supply Co., Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>439771.28000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
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      <invstOrSec>
        <name>HAWK HOLDING COMPANY LLC</name>
        <lei>549300C5O4FSVNUEI843</lei>
        <title>Intrawest Resorts Holdings, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US46124CAB37"/>
        </identifiers>
        <balance>358614.19660000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>353084.37000000</valUSD>
        <pctVal>0.860655575029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.90000000</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>BALBOA INTERMEDIATE HOLDINGS LLC</name>
        <lei>04EEB871XLHVNY4RZJ65</lei>
        <title>TIBCO Software, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX185825 1"/>
        </identifiers>
        <balance>137310.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>134434.73000000</valUSD>
        <pctVal>0.327689384415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.90000000</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>GTT COMMUNICATIONS INC</name>
        <lei>N/A</lei>
        <title>GTT Super Senior</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="BGH6ZYWM7 1"/>
        </identifiers>
        <balance>74853.96000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>68491.37000000</valUSD>
        <pctVal>0.166950124220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIBERTY GLOBAL PLC</name>
        <lei>N/A</lei>
        <title>UPC Financing Partnership</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX189545 1"/>
        </identifiers>
        <balance>175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>175087.50000000</valUSD>
        <pctVal>0.426781941644</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.68000000</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>ENERGIZER HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Energizer Holdings, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX191388 1"/>
        </identifiers>
        <balance>68750.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>68621.44000000</valUSD>
        <pctVal>0.167267174422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.75000000</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>2021-02-01</ncom:dateSigned>
      <ncom:nameOfApplicant>Guggenheim Variable Funds Trust</ncom:nameOfApplicant>
      <ncom:signature>John Sullivan</ncom:signature>
      <ncom:signerName>John Sullivan</ncom:signerName>
      <ncom:title>CFO</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
