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        <name>Encino Acquisition Partners Holdings LLC</name>
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        <name>Standard Industries, Inc.</name>
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        <name>Nabors Industries Ltd.</name>
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        <name>Allied Universal Holdco LLC</name>
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        <name>BWX Technologies, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ford Motor Credit Co. LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SPCM SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Matador Resources Co.</name>
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        <name>Clarios Global LP</name>
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        <name>AG Issuer LLC</name>
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        <name>Tallgrass Energy Partners LP</name>
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        <name>Wynn Macau Ltd.</name>
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        <name>APi Group DE, Inc.</name>
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        <name>NCR Corp.</name>
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        <name>TransDigm, Inc.</name>
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        <name>Match Group Holdings II LLC</name>
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        <name>Asbury Automotive Group, Inc.</name>
        <lei>549300JH4DTA7U42GL91</lei>
        <title>Asbury Automotive Group, Inc.</title>
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        <name>SeaWorld Parks &amp; Entertainment, Inc.</name>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>Albertsons Cos., Inc.</name>
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        <name>Videotron Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Real Hero Merger Sub 2, Inc.</name>
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        <name>Parkland Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-01</maturityDt>
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        <name>US Acute Care Solutions LLC</name>
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        <name>Match Group Holdings II LLC</name>
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        <name>Albertsons Cos., Inc.</name>
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        <name>Southwestern Energy Co.</name>
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        <name>Ardagh Packaging Finance plc</name>
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        <name>MFS Institutional Money Market Portfolio</name>
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        <name>GrafTech Global Enterprises, Inc.</name>
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        <name>LCPR Senior Secured Financing DAC</name>
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        <name>1375209 BC Ltd.</name>
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        <name>HUB International Ltd.</name>
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        <name>DISH DBS Corp.</name>
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        <name>US Foods, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CCO Holdings LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Bausch Health Cos., Inc.</name>
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        <invCountry>CA</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lithia Motors, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Clarivate Science Holdings Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
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        <name>Go Daddy Operating Co. LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</maturityDt>
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        <name>Puma International Financing SA</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-24</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sabre GLBL, Inc.</name>
        <lei>F2TJC7HPPHLHU1AQMP98</lei>
        <title>Sabre GLBL, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Sabre GLBL, Inc.</name>
        <lei>F2TJC7HPPHLHU1AQMP98</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-15</maturityDt>
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          <annualizedRt>11.25000000</annualizedRt>
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        <name>Regal Rexnord Corp.</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
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        <name>Dornoch Debt Merger Sub, Inc.</name>
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          <maturityDt>2029-10-15</maturityDt>
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        <name>RegionalCare Hospital Partners Holdings, Inc.</name>
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        <name>Match Group Holdings II LLC</name>
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        <name>Wynn Resorts Finance LLC</name>
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        <name>OneMain Finance Corp.</name>
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        <name>Energizer Gamma Acquisition BV</name>
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        <name>DISH Network Corp.</name>
        <lei>529900U350CWHH15G169</lei>
        <title>DISH Network Corp.</title>
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        <invCountry>US</invCountry>
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        <name>Nationstar Mortgage Holdings, Inc.</name>
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        <name>CCM Merger, Inc.</name>
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        <name>Carnival Corp.</name>
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        <name>WASH Multifamily Acquisition, Inc.</name>
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        <name>NCR Corp.</name>
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        <name>Embecta Corp.</name>
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        <name>Mauser Packaging Solutions Holding Co.</name>
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        <name>Stericycle, Inc.</name>
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        <name>Eldorado Gold Corp.</name>
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        <name>Venture Global Calcasieu Pass LLC</name>
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        <name>NFP Corp.</name>
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        <name>Calpine Corp.</name>
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        <name>Mattamy Group Corp.</name>
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        <name>Encompass Health Corp.</name>
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        <name>Bombardier, Inc.</name>
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        <name>United Wholesale Mortgage LLC</name>
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        <name>Tenet Healthcare Corp.</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
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        <name>Arches Buyer, Inc.</name>
        <lei>2549009ADY4208OH2Y47</lei>
        <title>Arches Buyer, Inc.</title>
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        <name>Taseko Mines Ltd.</name>
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        <name>Community Health Systems, Inc.</name>
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        <name>BellRing Brands, Inc.</name>
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      <invstOrSec>
        <name>Entegris Escrow Corp.</name>
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        <name>Community Health Systems, Inc.</name>
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        <name>Teleflex, Inc.</name>
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        <name>Vector Group Ltd.</name>
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        <name>Motion Bondco DAC</name>
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        <name>NextEra Energy Operating Partners LP</name>
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        <name>Charles River Laboratories International, Inc.</name>
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        <name>LABL, Inc.</name>
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        <name>Iliad Holding SASU</name>
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        <name>SBA Communications Corp.</name>
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        <name>Intelsat SA</name>
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        <name>Michaels Cos., Inc. (The)</name>
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        <name>Prestige Brands, Inc.</name>
        <lei>549300JBVP4J6D42I235</lei>
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        <name>Bombardier, Inc.</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>Bombardier, Inc.</title>
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        <name>Gray Television, Inc.</name>
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        <name>Royal Caribbean Cruises Ltd.</name>
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        <name>EQM Midstream Partners LP</name>
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        <name>Albion Financing 1 SARL</name>
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        <name>Global Aircraft Leasing Co. Ltd.</name>
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        <name>Novelis Corp.</name>
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        <name>Petra Diamonds US Treasury plc</name>
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        <name>Victoria's Secret &amp; Co.</name>
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        <name>Jazz Securities DAC</name>
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        <name>PetSmart, Inc.</name>
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        <name>GFL Environmental, Inc.</name>
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        <name>Terex Corp.</name>
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        <name>Synaptics, Inc.</name>
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        <name>CWCapital COBALT II LLC</name>
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        <name>Encompass Health Corp.</name>
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        <name>Air Canada</name>
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        <name>LSF11 A5 HoldCo LLC</name>
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        <name>Crown Americas LLC</name>
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        <name>DT Midstream, Inc.</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc.</title>
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          <isin value="US46284VAE11"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Clearway Energy Operating LLC</name>
        <lei>549300Z3NFMM54NWBB87</lei>
        <title>Clearway Energy Operating LLC</title>
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          <isin value="US18539UAC99"/>
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        <balance>4823000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
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          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Fair Isaac Corp.</name>
        <lei>RI6HET5SJUEY30V1PS26</lei>
        <title>Fair Isaac Corp.</title>
        <cusip>303250AE4</cusip>
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          <isin value="US303250AE41"/>
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        <balance>10153000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9962631.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>SWF Escrow Issuer Corp.</name>
        <lei>N/A</lei>
        <title>SWF Escrow Issuer Corp.</title>
        <cusip>78500AAA6</cusip>
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          <isin value="US78500AAA60"/>
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        <balance>3401000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>LTRI Holdings LP</name>
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          <other otherDesc="Inhouse Sedol" value="9C5692S"/>
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        <balance>3250.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc.</title>
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          <isin value="US46284VAC54"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
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      <invstOrSec>
        <name>Venture Global Calcasieu Pass LLC</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-15</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>Sirius XM Radio, Inc.</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio, Inc.</title>
        <cusip>82967NBJ6</cusip>
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          <isin value="US82967NBJ63"/>
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        <balance>5041000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4386083.87000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Genesis Energy LP</name>
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        <balance>3658000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3648615.40000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.87500000</annualizedRt>
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      <invstOrSec>
        <name>Caesars Entertainment, Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
        <title>Caesars Entertainment, Inc.</title>
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          <isin value="US12769GAA85"/>
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        <balance>1274000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1121531.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>Dana, Inc.</name>
        <lei>KVWHW7YLZPFJM8QYNJ51</lei>
        <title>Dana, Inc.</title>
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          <isin value="US235825AF32"/>
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        <balance>4884000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4676939.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>SCIL IV LLC</name>
        <lei>N/A</lei>
        <title>SCIL IV LLC</title>
        <cusip>N/A</cusip>
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          <isin value="XS2644943115"/>
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        <balance>4709000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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      <invstOrSec>
        <name>Tenet Healthcare Corp.</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
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        <balance>1993000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1777528.40000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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        <curCd>N/A</curCd>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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        <curCd>N/A</curCd>
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        <name>ARD Finance SA</name>
        <lei>6354006P6QPGGPVJW880</lei>
        <title>ARD Finance SA</title>
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        <balance>2167000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1760687.50000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
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      <invstOrSec>
        <name>Carnival Corp.</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
        <title>Carnival Corp.</title>
        <cusip>143658BL5</cusip>
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        <balance>4869000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4803339.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Standard Industries, Inc.</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Industries, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
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        <balance>1545000.00000000</balance>
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        <name>Mattamy Group Corp.</name>
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        <name>Calpine Corp.</name>
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        <name>Performance Food Group, Inc.</name>
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        <name>CCO Holdings LLC</name>
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        <name>SCIH Salt Holdings, Inc.</name>
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        <name>IQVIA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TriMas Corp.</name>
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        <name>Mattel, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Alliant Holdings Intermediate LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Realogy Group LLC</name>
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        <name>TransDigm, Inc.</name>
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        <name>Avantor Funding, Inc.</name>
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        <name>Ziggo Bond Co. BV</name>
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        <name>B&amp;G Foods, Inc.</name>
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        <name>FMG Resources August 2006 Pty. Ltd.</name>
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        <name>Williams Scotsman International, Inc.</name>
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      <invstOrSec>
        <name>Bausch Health Cos., Inc.</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>AmWINS Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>F-Brasile SpA</name>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AG TTMT Escrow Issuer LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Toronto-Dominion Bank (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2082-10-31</maturityDt>
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        <name>Caesars Entertainment, Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
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        <name>Entegris, Inc.</name>
        <lei>IYX6OWO7BT5DKO3BYG52</lei>
        <title>Entegris, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Summer BC Holdco A SARL</name>
        <lei>984500EFA0BRE0008996</lei>
        <title>Summer BC Holdco A SARL</title>
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          <isin value="XS2067265392"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Credit Acceptance Corp.</name>
        <lei>N/A</lei>
        <title>Credit Acceptance Corp.</title>
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          <isin value="US225310AM36"/>
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        <balance>711000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>697716.96000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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        <name>Interface, Inc.</name>
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        <name>TransDigm, Inc.</name>
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        <name>White Cap Buyer LLC</name>
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        <name>MIWD Holdco II LLC</name>
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        <name>N/A</name>
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        <name>Ritchie Bros Holdings, Inc.</name>
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        <name>Gray Escrow II, Inc.</name>
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        <name>Canpack SA</name>
        <lei>N/A</lei>
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        <name>NMG Holding Co., Inc.</name>
        <lei>N/A</lei>
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        <name>Intelsat Jackson Holdings SA</name>
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          <isin value="LU2445091858"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <othDeriv derivCat="OTH" othDesc="Rights">
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      <invstOrSec>
        <name>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas and Electric Co.</title>
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          <isin value="US694308KL02"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>XHR LP</name>
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          <isin value="US98372MAC91"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kaiser Aluminum Corp.</name>
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          <isin value="US483007AJ91"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Moss Creek Resources Holdings, Inc.</name>
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        <title>Moss Creek Resources Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-15</maturityDt>
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        <name>TransDigm, Inc.</name>
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        <title>TransDigm, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NextEra Energy Operating Partners LP</name>
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        <title>NextEra Energy Operating Partners LP</title>
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          <isin value="US65342QAC69"/>
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        <balance>728000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Avation Capital SA</name>
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        <title>Avation Capital SA</title>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Macquarie Airfinance Holdings Ltd.</name>
        <lei>549300MCGUSL5B852H65</lei>
        <title>Macquarie Airfinance Holdings Ltd.</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Verscend Escrow Corp.</name>
        <lei>N/A</lei>
        <title>Verscend Escrow Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>ANGI Group LLC</name>
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        <name>CSC Holdings LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
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      <invstOrSec>
        <name>Griffon Corp.</name>
        <lei>5493000C2SGNC7ZN3242</lei>
        <title>Griffon Corp.</title>
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        <name>SBA Communications Corp.</name>
        <lei>5299001HX8ZN8Y8QIT49</lei>
        <title>SBA Communications Corp.</title>
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        <name>Trivium Packaging Finance BV</name>
        <lei>724500GMZWW3PVYET548</lei>
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        <name>DT Midstream, Inc.</name>
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        <name>Wynn Macau Ltd.</name>
        <lei>254900NMDQ8ENTHU1I31</lei>
        <title>Wynn Macau Ltd.</title>
        <cusip>98313RAH9</cusip>
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        <balance>2744000.00000000</balance>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-26</maturityDt>
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      <invstOrSec>
        <name>Brand Industrial Services, Inc.</name>
        <lei>549300B658W2BPDQMW42</lei>
        <title>Brand Industrial Services, Inc.</title>
        <cusip>104931AA8</cusip>
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        <name>Castlelake Aviation Finance DAC</name>
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        <name>Emerald Debt Merger Sub LLC</name>
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        <name>Michaels Cos., Inc. (The)</name>
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        <name>Bombardier, Inc.</name>
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        <name>LCPR Senior Secured Financing DAC</name>
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        <name>Callon Petroleum Co.</name>
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        <name>SRS Distribution, Inc.</name>
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        <name>Terraform Global Operating LP</name>
        <lei>549300LC7QMVR79H5O86</lei>
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        <name>Wyndham Hotels &amp; Resorts, Inc.</name>
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        <name>Civitas Resources, Inc.</name>
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        <name>CCO Holdings LLC</name>
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        <name>Sensata Technologies BV</name>
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        <name>AssuredPartners, Inc.</name>
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        <name>Neptune Bidco US, Inc.</name>
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        <name>Carnival Corp.</name>
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        <name>HUB International Ltd.</name>
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        <name>Camelot Finance SA</name>
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        <name>Comstock Resources, Inc.</name>
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        <name>Gates Global LLC</name>
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        <name>Chart Industries, Inc.</name>
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        <name>Sensata Technologies BV</name>
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        <name>Nationstar Mortgage Holdings, Inc.</name>
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        <name>GYP Holdings III Corp.</name>
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        <name>Kaiser Aluminum Corp.</name>
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        <name>Novelis Corp.</name>
        <lei>549300G5F3W3B52WYL23</lei>
        <title>Novelis Corp.</title>
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        <name>ERO Copper Corp.</name>
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      <invstOrSec>
        <name>Venture Global LNG, Inc.</name>
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        <name>180 Medical, Inc.</name>
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      <invstOrSec>
        <name>Madison IAQ LLC</name>
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        <name>Southwestern Energy Co.</name>
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        <name>NFP Corp.</name>
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        <name>Cable One, Inc.</name>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Royal Caribbean Cruises Ltd.</name>
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        <name>BWX Technologies, Inc.</name>
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        <title>BWX Technologies, Inc.</title>
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        <name>DISH DBS Corp.</name>
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        <name>NCL Corp. Ltd.</name>
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        <name>Tenet Healthcare Corp.</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>Spectrum Brands, Inc.</name>
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        <name>OneMain Finance Corp.</name>
        <lei>5493008I795YYBFWFU90</lei>
        <title>OneMain Finance Corp.</title>
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        <invCountry>US</invCountry>
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        <name>Moog, Inc.</name>
        <lei>549300WM2I4U7OBAHG07</lei>
        <title>Moog, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GFL Environmental, Inc.</name>
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      <invstOrSec>
        <name>Ingevity Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Acrisure LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-15</maturityDt>
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      <invstOrSec>
        <name>Fertitta Entertainment LLC</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-15</maturityDt>
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      <invstOrSec>
        <name>SLM Corp.</name>
        <lei>N/A</lei>
        <title>SLM Corp.</title>
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          <isin value="US78442PGE07"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-02</maturityDt>
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      <invstOrSec>
        <name>Garda World Security Corp.</name>
        <lei>549300ZF1NDXLMCHNO20</lei>
        <title>Garda World Security Corp.</title>
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          <isin value="US36257BAA70"/>
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        <balance>4982000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-01</maturityDt>
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          <annualizedRt>9.50000000</annualizedRt>
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      <invstOrSec>
        <name>Tronox, Inc.</name>
        <lei>549300EPZ4YXC7E5P181</lei>
        <title>Tronox, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>Sirius XM Radio, Inc.</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio, Inc.</title>
        <cusip>82967NBC1</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Clarios Global LP</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-15</maturityDt>
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        <name>Aretec Escrow Issuer, Inc.</name>
        <lei>N/A</lei>
        <title>Aretec Escrow Issuer, Inc.</title>
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        <name>MPT Operating Partnership LP</name>
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        <invCountry>US</invCountry>
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        <name>Novelis Corp.</name>
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        <title>Novelis Corp.</title>
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        <name>Merlin Entertainments Ltd.</name>
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        <title>Merlin Entertainments Ltd.</title>
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        <name>CrownRock LP</name>
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        <name>Standard Industries, Inc.</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Industries, Inc.</title>
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        <name>LPL Holdings, Inc.</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
        <title>LPL Holdings, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>CSC Holdings LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
        <title>CSC Holdings LLC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OneMain Finance Corp.</name>
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      <invstOrSec>
        <name>Macy's Retail Holdings LLC</name>
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      <invstOrSec>
        <name>TriNet Group, Inc.</name>
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          <maturityDt>2029-03-01</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Dana, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
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      <invstOrSec>
        <name>Alliant Holdings Intermediate LLC</name>
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        <name>GTCR AP Finance, Inc.</name>
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        <name>Axalta Coating Systems LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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      <invstOrSec>
        <name>Mattel, Inc.</name>
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        <title>Mattel, Inc.</title>
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        <name>GFL Environmental, Inc.</name>
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        <title>GFL Environmental, Inc.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-01</maturityDt>
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        <name>Ritchie Bros Holdings, Inc.</name>
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        <name>Medline Borrower LP</name>
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        <name>Howard Hughes Corp. (The)</name>
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        <name>VOC Escrow Ltd.</name>
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        <name>Coeur Mining, Inc.</name>
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        <name>Virtusa Corp.</name>
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        <name>American Airlines, Inc.</name>
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        <name>Newell Brands, Inc.</name>
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        <name>Carnival Corp.</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
        <title>Carnival Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Prestige Brands, Inc.</name>
        <lei>549300JBVP4J6D42I235</lei>
        <title>Prestige Brands, Inc.</title>
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          <isin value="US74112BAL99"/>
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        <balance>5270000.00000000</balance>
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        <valUSD>5032850.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>Organon &amp; Co.</name>
        <lei>N/A</lei>
        <title>Organon &amp; Co.</title>
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          <isin value="US68622TAB70"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Spirit AeroSystems, Inc.</name>
        <lei>ZD2NBKV6GCC3UMGBM518</lei>
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          <isin value="US85205TAK60"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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      <invstOrSec>
        <name>Garden Spinco Corp.</name>
        <lei>N/A</lei>
        <title>Garden Spinco Corp.</title>
        <cusip>365417AA2</cusip>
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          <isin value="US365417AA28"/>
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        <balance>7066000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7625819.89000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-20</maturityDt>
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          <annualizedRt>8.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Summer BC Bidco B LLC</name>
        <lei>213800CCW2O2WZ7YV169</lei>
        <title>Summer BC Bidco B LLC</title>
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          <isin value="US865632AA18"/>
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        <balance>6155000.00000000</balance>
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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>2026-10-31</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Penn Entertainment, Inc.</name>
        <lei>N/A</lei>
        <title>Penn Entertainment, Inc.</title>
        <cusip>707569AV1</cusip>
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          <isin value="US707569AV14"/>
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        <balance>5215000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4307459.63000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Patrick Industries, Inc.</name>
        <lei>549300FZ5ZTCCJ3Z5W14</lei>
        <title>Patrick Industries, Inc.</title>
        <cusip>703343AC7</cusip>
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          <isin value="US703343AC76"/>
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        <balance>7298000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7170285.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-15</maturityDt>
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          <annualizedRt>7.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Caesars Entertainment, Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
        <title>Caesars Entertainment, Inc.</title>
        <cusip>12769GAB6</cusip>
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        <balance>4302000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4345111.76000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-15</maturityDt>
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          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Allied Universal Holdco LLC</name>
        <lei>N/A</lei>
        <title>Allied Universal Holdco LLC</title>
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          <isin value="US019576AC18"/>
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        <balance>3155000.00000000</balance>
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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>2029-06-01</maturityDt>
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        <name>NextEra Energy Operating Partners LP</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
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        <name>N/A</name>
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        <name>MPT Operating Partnership LP</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-15</maturityDt>
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        <name>CSC Holdings LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-01</maturityDt>
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        <name>New Enterprise Stone &amp; Lime Co., Inc.</name>
        <lei>549300O5DQ5Y61B8VF38</lei>
        <title>New Enterprise Stone &amp; Lime Co., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-15</maturityDt>
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        <name>Acrisure LLC</name>
        <lei>N/A</lei>
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          <isin value="US00489LAF04"/>
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      <invstOrSec>
        <name>Civitas Resources, Inc.</name>
        <lei>IIVIHPH28S64K95M2381</lei>
        <title>Civitas Resources, Inc.</title>
        <cusip>17888HAA1</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Match Group Holdings II LLC</name>
        <lei>5493003RFFE030RC9167</lei>
        <title>Match Group Holdings II LLC</title>
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        <balance>8030000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="All applicable monthly total returns are reported excluding any sales loads or redemption fees for Item B.5." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2023-08-30</ncom:dateSigned>
      <ncom:nameOfApplicant>MFS Series Trust III</ncom:nameOfApplicant>
      <ncom:signature>Kasey Phillips</ncom:signature>
      <ncom:signerName>Kasey Phillips</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
