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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-16</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>GRIFOLS SA</name>
        <lei>N/A</lei>
        <title>Grifols Worldwide Operations USA, Inc.</title>
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          <other otherDesc="LoanX ID" value="LX183733 1"/>
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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>2027-11-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>TEGRA118 WEALTH SOLUTIONS INC</name>
        <lei>N/A</lei>
        <title>Tegra118 Wealth Solutions, Inc.</title>
        <cusip>N/A</cusip>
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          <isin value="US33774UAC27"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-18</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FRONT RANGE TOPCO INC</name>
        <lei>529900Z6OTS7RT0V0I47</lei>
        <title>Zayo Group Holdings, Inc.</title>
        <cusip>N/A</cusip>
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          <isin value="US98919XAB73"/>
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        <balance>401526.71000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-09</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>DELTA PARENT HOLDINGS INC</name>
        <lei>549300FDREJLOIGXY104</lei>
        <title>Duff &amp; Phelps</title>
        <cusip>N/A</cusip>
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          <isin value="US24440EAB39"/>
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        <balance>382685.13000000</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>2027-04-09</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>RIBEYE PARENT LLC</name>
        <lei>549300BNWIZE0S86O670</lei>
        <title>Weber-Stephen Products LLC</title>
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          <other otherDesc="LoanX ID" value="LX190374 1"/>
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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>2027-10-30</maturityDt>
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      <invstOrSec>
        <name>E2OPEN PARENT HOLDINGS INC</name>
        <lei>549300WF2BZODU55DR56</lei>
        <title>E2open LLC</title>
        <cusip>N/A</cusip>
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          <isin value="US26826YAB83"/>
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        <balance>341296.39000000</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>2028-02-04</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.94000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GLOVES BUYER INC</name>
        <lei>54930015O0Y94T5H8Z18</lei>
        <title>Protective Industrial Products, Inc.</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX191949 1"/>
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        <balance>161474.12380000</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>
        <debtSec>
          <maturityDt>2027-12-29</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TRUCK ACQUISITION INC</name>
        <lei>54930007KT5CX7XNSD31</lei>
        <title>Truck Hero, Inc.</title>
        <cusip>N/A</cusip>
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          <isin value="US89778PAG28"/>
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        <balance>494845.36000000</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>2028-01-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.94000000</annualizedRt>
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        <name>PARK RIVER HOLDINGS INC</name>
        <lei>254900PGY077KWCROT75</lei>
        <title>Park River Holdings, Inc.</title>
        <cusip>N/A</cusip>
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          <isin value="US70082HAC07"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-28</maturityDt>
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        <name>CP ATLAS BUYER INC</name>
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        <title>American Bath Group LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FREEDOM VCM INC</name>
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        <title>Franchise Group, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ARGOS HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>PetSmart LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CIVITAS SOLUTIONS INC</name>
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        <name>PETCO HEALTH AND WELLNESS COMPANY INC</name>
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        <title>Petco Health And Wellness Company, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>INGENOVIS HEALTH INC</name>
        <lei>N/A</lei>
        <title>CCRR Parent, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>PSSI HOLDINGS LLC</name>
        <lei>549300X0L6OJNRPME518</lei>
        <title>Packers Holdings LLC</title>
        <cusip>N/A</cusip>
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        <balance>243151.62300000</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>2028-03-09</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.67000000</annualizedRt>
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        <name>ENVIRI CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>FIRST BRANDS GROUP LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WW INTERNATIONAL INC</name>
        <lei>SGT8R1MU6ESIC7UJC518</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SCIH SALT HOLDINGS INC</name>
        <lei>N/A</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-31</maturityDt>
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        <name>CONAIR HOLDINGS LLC</name>
        <lei>549300804G00T34FLV17</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>HAYWARD INDUSTRIES INC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-30</maturityDt>
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        <name>SOLERA CORP</name>
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        <name>OSMOSE UTILITIES SERVICES INC</name>
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        <name>TRAEGER PELLET GRILLS LLC</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>SABRE CORP</name>
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        <name>SABRE CORP</name>
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        <name>SWEETWATER BORROWER LLC</name>
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        <title>Sweetwater Sound</title>
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        <name>W R GRACE HOLDINGS LLC</name>
        <lei>549300WNOVFRGYOAEB12</lei>
        <title>W.R. Grace Holdings LLC</title>
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        <name>UPBOUND GROUP INC</name>
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        <title>Rent-A-Center, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MEDICAL SOLUTIONS PARENT HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Medical Solutions Parent Holdings, Inc.</title>
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        <name>CTEC JV SARL</name>
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        <name>FLUIDRA FINCO SLU</name>
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        <name>EAGLE PARENT CORP</name>
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        <name>AL GCX HOLDINGS LLC</name>
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        <name>SABRE CORP</name>
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        <name>CHEFS WAREHOUSE INC</name>
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        <name>ALTICE USA INC</name>
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        <title>CSC Holdings LLC</title>
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        <name>NEXT ALT SARL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TOPGOLF CALLAWAY BRANDS CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>2622524 ONTARIO INC</name>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MARATHON PETROLEUM CORP</name>
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        <curCd>USD</curCd>
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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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          <maturityDt>2029-02-01</maturityDt>
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        <name>VOLT PARENT LP</name>
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        <title>Calpine Construction Finance Company, LP</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>NOMAD FOODS LTD</name>
        <lei>N/A</lei>
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        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>SPRING EDUCATION GROUP INC</name>
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        <name>TRANSNETWORK LLC</name>
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        <name>XEROX HOLDINGS CORP</name>
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        <name>API HEAT TRANSFER THERMASYS CORP</name>
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        <name>BIP PIPECO HOLDINGS LLC</name>
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        <name>IRON MOUNTAIN INC</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain Information Management Services, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ELEMENT SOLUTIONS INC</name>
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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 Thermasys Corp.</title>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>SBA COMMUNICATIONS CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BRP INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CAESARS ENTERTAINMENT INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FOUNDATION BUILDING MATERIALS HOLDING COMPANY LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GMS INC</name>
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        <title>GYP Holdings III Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ARTERA SERVICES LLC</name>
        <lei>549300J2G34D0WX8Z443</lei>
        <title>Artera Services LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>EISNER ADVISORY GROUP</name>
        <lei>N/A</lei>
        <title>Eisner Advisory Group</title>
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        <fairValLevel>2</fairValLevel>
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        <name>PACIFIC DENTAL SERVICES LLC</name>
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        <name>MI WINDOWS AND DOORS LLC</name>
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        <name>AIR CANADA</name>
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        <title>Air Canada</title>
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        <name>ARAMARK</name>
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        <name>DYE &amp; DURHAM LTD</name>
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        <title>Dye &amp; Durham Corp.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NRG ENERGY INC</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>G &amp; W INTERMEDIATE HOLDINGS LLG</name>
        <lei>G617XSG94Z7G0RMW3L02</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>PAR PACIFIC HOLDINGS INC</name>
        <lei>984500CCF05C2FB39F45</lei>
        <title>Par Petroleum LLC</title>
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        <curCd>USD</curCd>
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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>ANTICIMEX GROUP AB</name>
        <lei>N/A</lei>
        <title>Seren BidCo AB</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>
        <debtSec>
          <maturityDt>2028-11-16</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>RS IVY HOLDCO INC</name>
        <lei>549300TH2PHOLK31LB42</lei>
        <title>ITT Holdings LLC</title>
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          <other otherDesc="LoanX ID" value="LX229142 1"/>
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        <curCd>USD</curCd>
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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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          <maturityDt>2030-10-11</maturityDt>
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        <name>MODENA BUYER LLC</name>
        <lei>254900B0G2IU0VBDOY26</lei>
        <title>Modena Buyer LLC</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX229220 1"/>
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        <balance>147096.21000000</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>2031-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.79000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>SUMMIT BEHAVIORAL HEALTHCARE LLC</name>
        <lei>254900QVBD0VL3INID05</lei>
        <title>Summit Behavioral Healthcare LLC</title>
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          <other otherDesc="LoanX ID" value="LX230493 1"/>
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        <balance>494974.61450000</balance>
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        <curCd>USD</curCd>
        <valUSD>408354.06000000</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>2028-11-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.55000000</annualizedRt>
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      <invstOrSec>
        <name>ENTAIN PLC</name>
        <lei>213800ATWJIEYQ8NF838</lei>
        <title>Entain Holdings (Gibraltar) Ltd.</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX230556 1"/>
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        <balance>299565.12200000</balance>
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        <curCd>USD</curCd>
        <valUSD>299657.99000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CREATIVE PLANNING (CPI) HOLDCO INC</name>
        <lei>N/A</lei>
        <title>CPI Holdco B LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US1261MAAB68"/>
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        <balance>121544.99000000</balance>
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        <curCd>USD</curCd>
        <valUSD>120203.13000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.32000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHRYSAOR AGGREGATOR LP</name>
        <lei>254900CXX37NCB7A8J31</lei>
        <title>Alter Domus</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX232240 1"/>
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        <balance>101494.01000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.79000000</annualizedRt>
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        <name>Alter Domus</name>
        <lei>N/A</lei>
        <title>Alter Domus</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2031-10-30</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>EPICOR SOFTWARE CORP</name>
        <lei>JGNXVGGGXR4O1L5I7S73</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-30</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>ENERGIZER HOLDINGS INC</name>
        <lei>5493000D6NN0V57UME20</lei>
        <title>Energizer 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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          <maturityDt>2027-12-22</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>BCPE ULYSSES INTERMEDIATE INC</name>
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        <title>LBM Acquisition LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>GTCR EVEREST BORROWER LLC</name>
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        <title>Assetmark Financial Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>GEN DIGITAL INC</name>
        <lei>YF6ZV0M6AU4FY94MK914</lei>
        <title>Gen Digital, Inc.</title>
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        <balance>209684.89200000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MEDLINE INDUSTRIES INC</name>
        <lei>254900QT3R363TVK6F09</lei>
        <title>Medline Borrower LP</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-23</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>RESTAURANT BRANDS INTERNATIONAL INC</name>
        <lei>549300RHSHNRWI5LLA86</lei>
        <title>Restaurant Brands</title>
        <cusip>N/A</cusip>
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        <balance>498280.07580000</balance>
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        <curCd>USD</curCd>
        <valUSD>492764.12000000</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>2030-09-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.07000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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        <name>WHITE CAP SUPPLY HOLDINGS LLC</name>
        <lei>254900L2N0T6GULCL366</lei>
        <title>White Cap Supply Holdings LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
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        <fairValLevel>2</fairValLevel>
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        <name>RING CONTAINER TECHNOLOGIES GROUP LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>THEVELIA US LLC</name>
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        <name>ACCEL INTERMEDIATE LLC</name>
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        <name>HARBOURVEST PARTNERS LLC</name>
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        <name>A-AP BUYER INC</name>
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        <name>ICON PARENT INC</name>
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        <title>Instructure Holdings, Inc.</title>
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        <name>GOLDEN CHAMBER INVESTMENT LTD</name>
        <lei>549300U9K7TD84Q24R17</lei>
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        <name>GOLDEN CHAMBER INVESTMENT LTD</name>
        <lei>549300U9K7TD84Q24R17</lei>
        <title>Del Monte Foods, Inc.</title>
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      <invstOrSec>
        <name>ARCOSA INC</name>
        <lei>549300WFHLTCZV7D6V29</lei>
        <title>Arcosa, Inc.</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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          <couponKind>Variable</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>ENGINEERING RESEARCH AND CONSULTING LLC</name>
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        <title>Engineering Research And Consulting LLC</title>
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          <other otherDesc="LoanX ID" value="LX240741 1"/>
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        <curCd>USD</curCd>
        <valUSD>148128.75000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <maturityDt>2031-08-29</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>TRANSDIGM GROUP INC</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX244414 1"/>
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        <balance>79600.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>79129.56000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.80000000</annualizedRt>
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      <invstOrSec>
        <name>LUX NEWCO</name>
        <lei>N/A</lei>
        <title>Froneri US, Inc.</title>
        <cusip>N/A</cusip>
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          <isin value="XAG3679YAK82"/>
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        <balance>389897.51320000</balance>
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        <curCd>USD</curCd>
        <valUSD>386988.88000000</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>2031-09-30</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LONESTAR INTERMEDIATE SUPER HOLDINGS LLC</name>
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        <title>Asurion LLC</title>
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          <other otherDesc="LoanX ID" value="LX245653 1"/>
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        <balance>240118.37000000</balance>
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        <curCd>USD</curCd>
        <valUSD>236742.31000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.57000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HAH GROUP HOLDING CO LLC</name>
        <lei>254900FFJQHW9R90FL74</lei>
        <title>HAH Group Holding Co. LLC</title>
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          <other otherDesc="LoanX ID" value="LX245794 1"/>
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        <balance>271215.94000000</balance>
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        <curCd>USD</curCd>
        <valUSD>256933.71000000</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>2031-09-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.32000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>MADISON SAFETY &amp; FLOW LLC</name>
        <lei>5493007D2J7BBIFYBY65</lei>
        <title>Madison Safety &amp; Flow LLC</title>
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          <other otherDesc="LoanX ID" value="LX246213 1"/>
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        <balance>78002.24000000</balance>
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        <curCd>USD</curCd>
        <valUSD>77831.42000000</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>2031-09-26</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.07163000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CORPAY INC</name>
        <lei>549300FKKKZCXLK48427</lei>
        <title>Corpay, Inc.</title>
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        <balance>348252.19000000</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>
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      <invstOrSec>
        <name>TACALA INVESTMENT CORP</name>
        <lei>549300XTM341KBSTDI88</lei>
        <title>Tacala Investment Corp.</title>
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        <balance>158801.01000000</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>
        <debtSec>
          <maturityDt>2031-01-31</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>BELRON FINANCE 2019 LLC</name>
        <lei>N/A</lei>
        <title>Belron Finance US, 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>2031-10-16</maturityDt>
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        <name>DXP ENTERPRISES INC</name>
        <lei>N/A</lei>
        <title>DXP Enterprises, Inc.</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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      <invstOrSec>
        <name>ALASKA AIR GROUP INC.</name>
        <lei>N/A</lei>
        <title>AS Mileage Plan Ltd.</title>
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        <balance>407669.65000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Convergint</name>
        <lei>N/A</lei>
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        <fairValLevel>3</fairValLevel>
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        <name>JBTMAREL CORP</name>
        <lei>5493007CT6ATBZ2L6826</lei>
        <title>Jefferies Finance LLC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>JEFFERIES FINANCE LLC</name>
        <lei>549300SKVB18YSSIDT75</lei>
        <title>Jefferies Finance LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CUBE A&amp;D BUYER INC</name>
        <lei>25490058FG1NWDNJ5K52</lei>
        <title>Cube A&amp;D Buyer, Inc.</title>
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        <balance>97063.82000000</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>
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        <name>HANGER INC</name>
        <lei>254900ZJJJYVLHJXSZ60</lei>
        <title>Hanger, Inc.</title>
        <cusip>N/A</cusip>
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        <balance>106311.79000000</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>2031-10-23</maturityDt>
          <couponKind>Variable</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>ORION ADVISOR SOLUTIONS INC</name>
        <lei>549300R3BS3HTGTSN386</lei>
        <title>Orion Advisor Solutions, Inc.</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX248893 1"/>
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        <balance>188685.62000000</balance>
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        <curCd>USD</curCd>
        <valUSD>188436.55000000</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>2030-09-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.04000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HANGER INC</name>
        <lei>254900ZJJJYVLHJXSZ60</lei>
        <title>Hanger, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US41043BAJ70"/>
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        <balance>2053.23000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2050.23000000</valUSD>
        <pctVal>0.004020315083</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.82000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HANGER INC</name>
        <lei>254900ZJJJYVLHJXSZ60</lei>
        <title>Hanger, Inc.</title>
        <cusip>N/A</cusip>
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          <isin value="US41043BAJ70"/>
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        <balance>-11634.98000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-16.99000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <maturityDt>2031-10-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CACI INTERNATIONAL INC</name>
        <lei>SYRPI2D1O9WRTS2WX210</lei>
        <title>CACI International, Inc.</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX248997 1"/>
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        <balance>498750.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>495947.03000000</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>2031-10-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.07000000</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>POINTCLICKCARE CORP</name>
        <lei>N/A</lei>
        <title>PointClickCare Technologies, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XAC7365BAF31"/>
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        <balance>105000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104672.40000000</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>2031-11-03</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.55000000</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>SPEEDSTER MIV SCSP</name>
        <lei>254900LE837QB2YYV824</lei>
        <title>Speedster Bidco GMBH</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX249053 1"/>
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        <balance>243340.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>242731.73000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.55000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OUTCOMES GROUP HOLDINGS INC</name>
        <lei>5493005V7ZG5K84MO728</lei>
        <title>Outcomes Group Holdings, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX249686 1"/>
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        <balance>219052.13000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>218778.31000000</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>2031-05-06</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.57000000</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>LIFE TIME GROUP HOLDINGS INC</name>
        <lei>549300PALKE96VYH4X17</lei>
        <title>Life Time, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX249758 1"/>
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        <balance>185000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>184445.00000000</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>2031-11-05</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.80000000</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>SOUTHERN VETERINARY COMPANY LLC</name>
        <lei>549300DT78GYJYRK0R74</lei>
        <title>Southern Veterinary Partners LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX250177 1"/>
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        <balance>175196.34980000</balance>
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        <curCd>USD</curCd>
        <valUSD>174602.43000000</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>2031-12-04</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.57000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DYNASTY PARENT HOLDINGS LP</name>
        <lei>549300L1RCRPOAUCB870</lei>
        <title>StandardAero</title>
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          <other otherDesc="LoanX ID" value="LX250339 1"/>
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        <balance>127796.11000000</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>2031-10-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.32000000</annualizedRt>
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        <name>DYNASTY PARENT HOLDINGS LP</name>
        <lei>N/A</lei>
        <title>StandardAero</title>
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          <other otherDesc="LoanX ID" value="LX250340 1"/>
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        <balance>48609.55000000</balance>
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        <curCd>USD</curCd>
        <valUSD>48438.44000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.32000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>CONSTRUCTION PARTNERS INC</name>
        <lei>549300MHLFL4E8JLZU44</lei>
        <title>Construction Partners, Inc.</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX250347 1"/>
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        <balance>95000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>94327.40000000</valUSD>
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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>2031-11-03</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>CITADEL SECURITIES LP</name>
        <lei>549300NV5RXBUS3X7L47</lei>
        <title>Citadel Securities, LP</title>
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          <other otherDesc="LoanX ID" value="LX250359 1"/>
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        <balance>353750.81800000</balance>
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        <curCd>USD</curCd>
        <valUSD>353177.74000000</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>2031-10-31</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>ATD CORP</name>
        <lei>HZ8T88YVE2JVXJ0BTQ24</lei>
        <title>American Tire Distributors, Inc.</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX250739 1"/>
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        <balance>175500.00000000</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>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-20</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>HAWK HOLDING COMPANY LLC</name>
        <lei>549300C5O4FSVNUEI843</lei>
        <title>Alterra Mountain Co.</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX250893 1"/>
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        <curCd>USD</curCd>
        <valUSD>297755.62000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-17</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>HAWK HOLDING COMPANY LLC</name>
        <lei>549300C5O4FSVNUEI843</lei>
        <title>Alterra Mountain Co.</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX250895 1"/>
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        <balance>199001.25000000</balance>
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        <curCd>USD</curCd>
        <valUSD>198752.50000000</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>2030-05-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.32000000</annualizedRt>
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      <invstOrSec>
        <name>PICARD HOLDCO INC</name>
        <lei>04EEB871XLHVNY4RZJ65</lei>
        <title>Cloud Software Group, Inc.</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX250993 1"/>
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        <balance>18462.27000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18264.54000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-21</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>XPLORNET COMMUNICATIONS INC</name>
        <lei>2138007ZVGYYNWEGU394</lei>
        <title>Xplore, Inc.</title>
        <cusip>N/A</cusip>
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        <title>World Wide Technology Holding Company LLC</title>
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        <name>BACH FINANCE LTD</name>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>GC TWO HOLDINGS INC</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-09</maturityDt>
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        <name>ASCENSUS GROUP HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>AqGen Island 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>OPTIMA BIDCO JERSEY LTD</name>
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        <title>EG Finco Ltd.</title>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ANCHOR PACKAGING LLC</name>
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        <name>WHITEWATER DBR HOLDCO LLC</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-31</maturityDt>
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        <name>GRAFTECH INTERNATIONAL LTD.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-21</maturityDt>
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        <name>HUNTER DOUGLAS INC</name>
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        <title>Hunter Douglas, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-17</maturityDt>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>BUCKEYE GP LLC</name>
        <lei>549300C1PQJLVEIUBK50</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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        <name>BOOST NEWCO BORROWER LLC</name>
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        <title>Worldpay</title>
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        <name>MCGRAW HILL LLC</name>
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        <title>McGraw Hill Education, Inc.</title>
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        <name>RECESS HOLDINGS INC</name>
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        <name>CLEARWATER ANALYTICS HOLDINGS INC</name>
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        <name>AMWINS GROUP INC</name>
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        <title>Pushpay USA, Inc.</title>
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        <name>MICHAEL BAKER INTERNATIONAL LLC</name>
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        <title>Michael Baker International LLC</title>
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        <name>NEXUS PARENT LLC</name>
        <lei>254900PILSANV8WOOF24</lei>
        <title>Nexus Buyer LLC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BOXER PARENT COMPANY INC</name>
        <lei>5493006T045HLTF7YX04</lei>
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        <name>ASCEND LEARNING LLC</name>
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        <name>SELECT MEDICAL HOLDINGS CORP</name>
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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-10</maturityDt>
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        <name>LIBERTY GLOBAL LTD</name>
        <lei>213800DXWIS9KORQ3X94</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>GFL ENVIRONMENTAL SERVICES INC</name>
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        <title>GFL Environmental, Inc.</title>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-04</maturityDt>
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        <name>PRIMO BRANDS CORP</name>
        <lei>254900J0WS4AXV2LAX55</lei>
        <title>Primo Brands Corp.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>FERDINAND FFP ULTIMATE HOLDINGS LP</name>
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        <title>Focus Financial Partners LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>API GROUP CORP</name>
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        <title>APi Group DE, Inc.</title>
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        <name>QUIKRETE HOLDINGS INC</name>
        <lei>5493007KIN86DIZWZT22</lei>
        <title>Quikrete Holdings, Inc.</title>
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        <name>ABG INTERMEDIATE HOLDINGS 2 LLC</name>
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        <title>Authentic Brands</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FINANCIERE MENDELSSOHN</name>
        <lei>N/A</lei>
        <title>Ceva Sante</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MINIMAX VIKING GMBH</name>
        <lei>549300RKTIVJWNROR778</lei>
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        <cusip>N/A</cusip>
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        <curCd>USD</curCd>
        <valUSD>85047.28000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-19</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>ATLANTIC AVIATION HOLDINGS CORP</name>
        <lei>2549001SCJD3WEYJFM53</lei>
        <title>Atlantic Aviation</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>
        <debtSec>
          <maturityDt>2031-09-23</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>XPO INC</name>
        <lei>54930096DB9LCLPN7H13</lei>
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          <other otherDesc="LoanX ID" value="LX259070 1"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99719.00000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-28</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>GEN DIGITAL INC</name>
        <lei>YF6ZV0M6AU4FY94MK914</lei>
        <title>Gen Digital, Inc.</title>
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          <other otherDesc="LoanX ID" value="LX259072 1"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44516.25000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-13</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>APEX GROUP TREASURY LLC</name>
        <lei>254900N6HRPDDNW7HP03</lei>
        <title>Apex Group Treasury LLC</title>
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          <other otherDesc="LoanX ID" value="LX259077 1"/>
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        <balance>249669.72000000</balance>
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        <curCd>USD</curCd>
        <valUSD>248578.66000000</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>2032-02-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.82000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VIRTU FINANCIAL INC</name>
        <lei>549300FRO9M476YHHY64</lei>
        <title>Virtu Financial</title>
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          <other otherDesc="LoanX ID" value="LX259122 1"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>174891.50000000</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>2031-06-21</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.82000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KNIFE RIVER CORP</name>
        <lei>N/A</lei>
        <title>Knife River Corp.</title>
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          <other otherDesc="LoanX ID" value="LX259201 1"/>
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        <balance>42046.40000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41888.73000000</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>2032-02-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.29000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITRIN COOPERMAN ADVISORS LLC</name>
        <lei>N/A</lei>
        <title>Citrin Cooperman Advisors LLC</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX259294 1"/>
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        <balance>98636.36000000</balance>
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        <curCd>USD</curCd>
        <valUSD>97835.43000000</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>2032-03-05</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Citrin Cooperman Advisors LLC</name>
        <lei>N/A</lei>
        <title>Citrin Cooperman Advisors LLC</title>
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          <other otherDesc="LoanX ID" value="LX259599U 1"/>
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        <balance>-6363.64000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-51.67000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <maturityDt>2032-03-05</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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      <invstOrSec>
        <name>KASEYA INC</name>
        <lei>254900MISXMLRZ63NH46</lei>
        <title>Kaseya, Inc.</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-05</maturityDt>
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      <invstOrSec>
        <name>IMAGEFIRST HOLDINGS LLC</name>
        <lei>N/A</lei>
        <title>Imagefirst Holdings, LLC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>RED SPV LLC</name>
        <lei>N/A</lei>
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        <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>MANNINGTON MILLS INC</name>
        <lei>N/A</lei>
        <title>Mannington Mills, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-07</maturityDt>
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        <name>PEER HOLDING III BV</name>
        <lei>7245002S0K5Q59JCVQ03</lei>
        <title>Peer Holding III BV</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CAPSTONE BORROWER INC</name>
        <lei>254900YSP2BAI3YKIX08</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>WALKER &amp; DUNLOP INC</name>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ASPHALT BUYER II LLC</name>
        <lei>N/A</lei>
        <title>Asphalt Atd Holdco,  LLC</title>
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        <valUSD>84608.48000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.65000000</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>LUMEN TECHNOLOGIES INC</name>
        <lei>254900AE5FEFIJOXWL19</lei>
        <title>Level 3 Financing, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX260524 1"/>
        </identifiers>
        <balance>103500.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102108.96000000</valUSD>
        <pctVal>0.200226409725</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-21</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.75000000</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>2025-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Guggenheim Variable Funds Trust</ncom:nameOfApplicant>
      <ncom:signature>James Howley</ncom:signature>
      <ncom:signerName>James Howley</ncom:signerName>
      <ncom:title>CFO</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
