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        <name>Acrisure LLC</name>
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      <invstOrSec>
        <name>Acrisure LLC</name>
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      <invstOrSec>
        <name>Acushnet Co.</name>
        <lei>549300H805O14KEFES79</lei>
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          <isin value="US005095AB02"/>
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      <invstOrSec>
        <name>AECOM</name>
        <lei>0EEB8GF0W0NPCIHZX097</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Osaic Holdings, Inc.</name>
        <lei>549300XL60BDV6UW5C86</lei>
        <title>Osaic Holdings, Inc.</title>
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      <invstOrSec>
        <name>Albertsons Cos., Inc.</name>
        <lei>N/A</lei>
        <title>Albertsons Cos., Inc.</title>
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          <isin value="US01309QAB41"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-15</maturityDt>
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      <invstOrSec>
        <name>ATI, Inc.</name>
        <lei>ZW1LRE7C3H17O2ZN9B45</lei>
        <title>ATI, Inc.</title>
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          <isin value="US01741RAP73"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-15</maturityDt>
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      <invstOrSec>
        <name>Allegiant Travel Co.</name>
        <lei>549300JM9OZXOHWL2K18</lei>
        <title>Allegiant Travel Co.</title>
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          <isin value="US01748XAE22"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
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      <invstOrSec>
        <name>Alliant Holdings Intermediate LLC</name>
        <lei>N/A</lei>
        <title>Alliant Holdings Intermediate LLC</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-01</maturityDt>
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        <name>Alliant Holdings Intermediate LLC</name>
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        <name>Alliant Holdings Intermediate LLC</name>
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        <name>Alliant Holdings Intermediate LLC</name>
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        <name>Allied Universal Holdco LLC</name>
        <lei>98450038B4549046D794</lei>
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        <name>Allied Universal Holdco LLC</name>
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        <name>Allison Transmission, Inc.</name>
        <lei>MWKQ3I0U1GXP2YDSZW75</lei>
        <title>Allison Transmission, Inc.</title>
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        <name>Allison Transmission, Inc.</name>
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        <name>Altice France SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>Altice France SA</title>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Altice France SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
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          <isin value="US02090DAB47"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
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      <invstOrSec>
        <name>Altice France SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
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          <isin value="US02090DAD03"/>
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        <curCd>USD</curCd>
        <valUSD>1411329.58000000</valUSD>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-15</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Altice Financing SA</name>
        <lei>549300DIYGW8HVDF7Q17</lei>
        <title>Altice Financing SA</title>
        <cusip>02154CAH6</cusip>
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          <isin value="US02154CAH60"/>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-15</maturityDt>
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      <invstOrSec>
        <name>Amentum Holdings, Inc.</name>
        <lei>2549009FJIBLW40CU216</lei>
        <title>Amentum Holdings, Inc.</title>
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          <isin value="US02352BAA35"/>
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        <balance>4958000.00000000</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>2032-08-01</maturityDt>
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          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>American Axle &amp; Manufacturing, Inc.</name>
        <lei>RY5TAKFOBLDUGX31MS24</lei>
        <title>American Axle &amp; Manufacturing, Inc.</title>
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          <isin value="US02406PBC32"/>
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        <balance>2868000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2852691.19000000</valUSD>
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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>2032-10-15</maturityDt>
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      <invstOrSec>
        <name>American Axle &amp; Manufacturing, Inc.</name>
        <lei>RY5TAKFOBLDUGX31MS24</lei>
        <title>American Axle &amp; Manufacturing, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-15</maturityDt>
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          <annualizedRt>7.75000000</annualizedRt>
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      <invstOrSec>
        <name>Ameritex Holdco Intermediate LLC</name>
        <lei>N/A</lei>
        <title>Ameritex Holdco Intermediate LLC</title>
        <cusip>030727AB7</cusip>
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          <isin value="US030727AB71"/>
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        <balance>6163000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6345239.91000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
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      <invstOrSec>
        <name>Amsted Industries, Inc.</name>
        <lei>N2VLGYMEEBIU3PFSUY86</lei>
        <title>Amsted Industries, Inc.</title>
        <cusip>032177AK3</cusip>
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          <isin value="US032177AK30"/>
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        <balance>5651000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5699349.96000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-15</maturityDt>
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          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>Amynta Agency Borrower, Inc. and Amynta Warranty Borrower, Inc.</name>
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        <title>Amynta Agency Borrower, Inc. and Amynta Warranty Borrower, Inc.</title>
        <cusip>03238AAA3</cusip>
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          <isin value="US03238AAA34"/>
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        <balance>5675000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5546461.25000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>Antero Midstream Partners LP</name>
        <lei>N/A</lei>
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        <cusip>03690AAN6</cusip>
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        <balance>11515000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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        <name>Arches Buyer, Inc.</name>
        <lei>2549009ADY4208OH2Y47</lei>
        <title>Arches Buyer, Inc.</title>
        <cusip>039524AB9</cusip>
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          <isin value="US039524AB93"/>
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        <valUSD>5807527.71000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
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          <annualizedRt>6.12500000</annualizedRt>
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        <name>Ardonagh Finco Ltd.</name>
        <lei>254900D2T84O1K03BA28</lei>
        <title>Ardonagh Finco Ltd.</title>
        <cusip>039853AA4</cusip>
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        <invCountry>JE</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.75000000</annualizedRt>
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        <name>Aretec Group, Inc.</name>
        <lei>549300NV2T8A33L0PQ58</lei>
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        <name>Aretec Group, Inc.</name>
        <lei>549300NV2T8A33L0PQ58</lei>
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        <name>Asurion LLC</name>
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        <title>Asurion LLC</title>
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        <name>Asurion LLC</name>
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      <invstOrSec>
        <name>Axon Enterprise, Inc.</name>
        <lei>549300QP2IEEGFE16681</lei>
        <title>Axon Enterprise, Inc.</title>
        <cusip>05464CAC5</cusip>
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        <balance>6847000.00000000</balance>
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        <valUSD>6926507.36000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-15</maturityDt>
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      <invstOrSec>
        <name>Axon Enterprise, Inc.</name>
        <lei>549300QP2IEEGFE16681</lei>
        <title>Axon Enterprise, Inc.</title>
        <cusip>05464CAD3</cusip>
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      <invstOrSec>
        <name>CD&amp;R Smokey Buyer, Inc.</name>
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        <name>Community Health Systems, Inc.</name>
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        <name>CNX Resources Corp.</name>
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        <name>Cable One, Inc.</name>
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        <name>Centene Corp.</name>
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        <name>Centene Corp.</name>
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        <name>Champ Acquisition Corp.</name>
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        <name>Chemours Co. (The)</name>
        <lei>549300M1BOLNXL8DOV14</lei>
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        <name>Chobani LLC</name>
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        <name>Cimpress plc</name>
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        <name>SM Energy Co.</name>
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        <name>SM Energy Co.</name>
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        <name>Clarios Global LP</name>
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        <name>Clarios Global LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Clean Harbors, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Clearway Energy Operating LLC</name>
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        <name>Clearway Energy Operating LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cleveland-Cliffs, Inc.</name>
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        <name>Cloud Software Group LLC</name>
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        <name>Cloud Software Group LLC</name>
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        <name>Cobra AcquisitionCo LLC</name>
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        <name>Coeur Mining, Inc.</name>
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        <name>Columbus McKinnon Corp.</name>
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        <name>CompoSecure Holdings LLC</name>
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        <name>Concentra Health Services, Inc.</name>
        <lei>984500GB84105F75DE32</lei>
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        <name>Credit Acceptance Corp.</name>
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        <name>Dexko Global, Inc.</name>
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        <name>Directv Financing LLC</name>
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        <name>Directv Financing LLC</name>
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      <invstOrSec>
        <name>DISH DBS Corp.</name>
        <lei>N/A</lei>
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        <name>Discovery Global Holdings, Inc.</name>
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        <name>Discovery Global Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dorman Products, Inc.</name>
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        <name>Dotdash Meredith, Inc.</name>
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        <name>EchoStar Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EchoStar Corp.</name>
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        <name>Edged Compute LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Eldorado Gold Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Empire Communities Corp.</name>
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        <name>Encompass Health Corp.</name>
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        <name>Encompass Health Corp.</name>
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        <name>Energizer Holdings, Inc.</name>
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        <name>Energizer Holdings, Inc.</name>
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        <name>Esab Corp.</name>
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        <title>Esab Corp.</title>
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        <name>FMC Corp.</name>
        <lei>CKDHZ2X64EEBQCSP7013</lei>
        <title>FMC Corp.</title>
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        <name>Freedom Mortgage Holdings LLC</name>
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        <name>Global Aircraft Leasing Co. Ltd.</name>
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        <name>Gulfport Energy Operating Corp.</name>
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        <name>Hawaiian Electric Co., Inc.</name>
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        <name>Infinity Natural Resources LLC</name>
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        <name>Insulet Corp.</name>
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        <name>ION Platform Finance US, Inc.</name>
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        <name>IQVIA, Inc.</name>
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        <name>Iron Mountain, Inc.</name>
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        <name>iShares Broad USD High Yield Corporate Bond ETF</name>
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        <name>JB Poindexter &amp; Co., Inc.</name>
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        <name>Jane Street Group</name>
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        <name>Jefferson Capital Holdings LLC</name>
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        <name>KeHE Distributors LLC</name>
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        <name>Level 3 Financing, Inc.</name>
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        <name>Light &amp; Wonder International, Inc.</name>
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        <name>Lindblad Expeditions LLC</name>
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        <name>MFS Institutional Money Market Portfolio</name>
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        <name>Macy's Retail Holdings LLC</name>
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        <name>Mattamy Group Corp.</name>
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        <name>Mattamy Group Corp.</name>
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        <name>Meridian Arc Holdco LLC</name>
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        <name>Mavis Tire Express Services Topco Corp.</name>
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        <name>Michaels Cos., Inc. (The)</name>
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        <name>Stagwell Global LLC</name>
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        <name>Mineral Resources Ltd.</name>
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        <name>Molina Healthcare, Inc.</name>
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        <name>Moog, Inc.</name>
        <lei>549300WM2I4U7OBAHG07</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-01-15</maturityDt>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Nabors Industries, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-15</maturityDt>
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        <name>Neptune Bidco US, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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        <name>Neptune Bidco US, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-15</maturityDt>
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        <name>Neptune Bidco US, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-15</maturityDt>
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          <annualizedRt>9.50000000</annualizedRt>
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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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          <annualizedRt>9.75000000</annualizedRt>
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        <name>New Flyer Holdings, Inc.</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
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          <annualizedRt>9.25000000</annualizedRt>
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        <name>Risewell Homes, Inc.</name>
        <lei>549300PLCE8TB3TVRQ85</lei>
        <title>Risewell Homes, Inc.</title>
        <cusip>645370AG2</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-01</maturityDt>
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          <annualizedRt>8.50000000</annualizedRt>
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        <name>Rithm Capital Corp.</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>Rithm Capital Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-01</maturityDt>
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          <annualizedRt>8.50000000</annualizedRt>
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        <name>XPLR Infrastructure Operating Partners LP</name>
        <lei>549300KJEC5IUVJWR786</lei>
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        <cusip>65342QAM4</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
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        <name>Nexstar Media, Inc.</name>
        <lei>5493006PK6I4I2OOT688</lei>
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        <name>Nexstar Media, Inc.</name>
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        <name>Brundage-Bone Concrete Pumping Holdings, Inc.</name>
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        <name>NuStar Logistics LP</name>
        <lei>N62BF2PKP51FIIOIUN20</lei>
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        <name>OAK-Eagle Acquireco, Inc.</name>
        <lei>6488ICS9P20290MA1H31</lei>
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        <name>Chord Energy Corp.</name>
        <lei>529900FA4V2YNIKZ0M71</lei>
        <title>Chord Energy Corp.</title>
        <cusip>674215AN8</cusip>
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        <balance>6005000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-15</maturityDt>
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        <fairValLevel>2</fairValLevel>
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        <name>Performance Food Group, Inc.</name>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>Petco Health &amp; Wellness Co., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PetSmart LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pioneer Opco LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Post Holdings, Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Post Holdings, Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-15</maturityDt>
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        <name>Prairie Acquiror LP</name>
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          <isin value="US73943NAA46"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
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        <name>Prestige Brands, Inc.</name>
        <lei>549300JBVP4J6D42I235</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-01</maturityDt>
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        <name>Prestige Brands, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Prime Healthcare Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Qnity Electronics, Inc.</name>
        <lei>254900RSUG4J9TFFZX53</lei>
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        <name>Qnity Electronics, Inc.</name>
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        <name>Quikrete Holdings, Inc.</name>
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        <name>RHP Hotel Properties LP</name>
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        <name>RXO, Inc.</name>
        <lei>549300KL8CA6GP8XPM30</lei>
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        <name>Rocket Mortgage LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>QXO Building Products, Inc.</name>
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        <name>SCIH Salt Holdings, Inc.</name>
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        <name>SCIH Salt Holdings, Inc.</name>
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        <name>SE Cosmos LLC</name>
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        <name>SM Energy Co.</name>
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        <name>SS&amp;C Technologies, Inc.</name>
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        <name>SV RNO Property Owner 1 LLC</name>
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        <name>Saturn Oil &amp; Gas, Inc.</name>
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        <name>Scripps Escrow II, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Service Corp. International</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-15</maturityDt>
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      <invstOrSec>
        <name>Shift4 Payments LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-15</maturityDt>
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      <invstOrSec>
        <name>Sinclair Television Group, Inc.</name>
        <lei>549300CQGEN0CH65UD62</lei>
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          <isin value="US829259BH26"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-15</maturityDt>
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      <invstOrSec>
        <name>Six Flags Entertainment Corp.</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Six Flags Entertainment Corp.</name>
        <lei>N/A</lei>
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          <isin value="US83003AAA88"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Snap, Inc.</name>
        <lei>549300JNC0L6VP8A2Q35</lei>
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          <isin value="US83304AAL08"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-01</maturityDt>
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          <annualizedRt>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>OneMain Finance Corp.</name>
        <lei>5493008I795YYBFWFU90</lei>
        <title>OneMain Finance Corp.</title>
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          <isin value="US85172FAR01"/>
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        <balance>4280000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Starwood Property Trust, Inc.</name>
        <lei>BUGSFQZERKRBFWIG5267</lei>
        <title>Starwood Property Trust, Inc.</title>
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          <isin value="US85571BBG95"/>
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        <balance>7366000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7254262.94000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Starwood Property Trust, Inc.</name>
        <lei>BUGSFQZERKRBFWIG5267</lei>
        <title>Starwood Property Trust, Inc.</title>
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        <balance>2012000.00000000</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>2031-06-01</maturityDt>
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          <annualizedRt>6.12500000</annualizedRt>
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        <name>Stonebriar ABF Issuer LLC</name>
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        <name>Sunoco LP</name>
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          <maturityDt>2032-05-01</maturityDt>
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        <name>Sunoco LP</name>
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        <name>Sunoco LP</name>
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        <name>Surgery Center Holdings, Inc.</name>
        <lei>54930054EVI5HWPPW113</lei>
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        <name>Synergy Infrastructure Holdings LLC</name>
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        <name>Talen Energy Supply LLC</name>
        <lei>K5K33XN0PQAU1XF7NN66</lei>
        <title>Talen Energy Supply LLC</title>
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        <name>Talen Energy Supply LLC</name>
        <lei>K5K33XN0PQAU1XF7NN66</lei>
        <title>Talen Energy Supply LLC</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-02-01</maturityDt>
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        <name>Tallgrass Energy Partners LP</name>
        <lei>N/A</lei>
        <title>Tallgrass Energy Partners LP</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tallgrass Energy Partners LP</name>
        <lei>N/A</lei>
        <title>Tallgrass Energy Partners LP</title>
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          <isin value="US87470LAL53"/>
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        <balance>2718000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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          <annualizedRt>7.37500000</annualizedRt>
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      <invstOrSec>
        <name>Trekor Metals Ltd.</name>
        <lei>549300XKUO1JSLU7KX54</lei>
        <title>Trekor Metals Ltd.</title>
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          <isin value="US876511AG15"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-01</maturityDt>
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      <invstOrSec>
        <name>Teleflex, Inc.</name>
        <lei>UUL85LWXB4NGSWWXIQ25</lei>
        <title>Teleflex, Inc.</title>
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          <isin value="US879369AH94"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-15</maturityDt>
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          <annualizedRt>5.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Terex Corp.</name>
        <lei>YAWJZJYEQ7M1SYMOS462</lei>
        <title>Terex Corp.</title>
        <cusip>880779BB8</cusip>
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          <isin value="US880779BB83"/>
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        <balance>5654000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5674292.21000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-15</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TerraForm Power Operating LLC</name>
        <lei>5493000S2OLR3UT5BE13</lei>
        <title>TerraForm Power Operating LLC</title>
        <cusip>88104LAE3</cusip>
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          <isin value="US88104LAE39"/>
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        <balance>6764000.00000000</balance>
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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>2028-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Thor Industries, Inc.</name>
        <lei>254900XZO1228PDSG060</lei>
        <title>Thor Industries, Inc.</title>
        <cusip>885160AA9</cusip>
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          <isin value="US885160AA99"/>
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        <balance>6414000.00000000</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>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
        <cusip>893647BR7</cusip>
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          <isin value="US893647BR70"/>
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        <balance>3860000.00000000</balance>
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        <curCd>USD</curCd>
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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>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
        <cusip>893647BS5</cusip>
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          <isin value="US893647BS53"/>
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        <balance>9903000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10151307.82000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
        <cusip>893647BU0</cusip>
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          <isin value="US893647BU00"/>
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        <balance>3773000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3818392.96000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-31</maturityDt>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
        <cusip>893647CB1</cusip>
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          <isin value="US893647CB10"/>
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        <balance>5907000.00000000</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>2034-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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      <invstOrSec>
        <name>TransMontaigne Partners LLC</name>
        <lei>N/A</lei>
        <title>TransMontaigne Partners LLC</title>
        <cusip>89377AAA3</cusip>
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          <isin value="US89377AAA34"/>
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        <balance>3947000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>TriNet Group, Inc.</name>
        <lei>5299003FJVBETSFKE990</lei>
        <title>TriNet Group, Inc.</title>
        <cusip>896288AA5</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>TriNet Group, Inc.</name>
        <lei>5299003FJVBETSFKE990</lei>
        <title>TriNet Group, Inc.</title>
        <cusip>896288AC1</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-15</maturityDt>
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          <annualizedRt>7.12500000</annualizedRt>
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      <invstOrSec>
        <name>TrueNoord Capital DAC</name>
        <lei>N/A</lei>
        <title>TrueNoord Capital DAC</title>
        <cusip>89785GAA6</cusip>
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        <balance>3388000.00000000</balance>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
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          <annualizedRt>8.75000000</annualizedRt>
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      <invstOrSec>
        <name>Turning Point Brands, Inc.</name>
        <lei>549300IYG00QF0VVP302</lei>
        <title>Turning Point Brands, Inc.</title>
        <cusip>90041LAG0</cusip>
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          <isin value="US90041LAG05"/>
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        <balance>4657000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4729262.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>US Foods, Inc.</name>
        <lei>5493000JOOFAOUY1JZ87</lei>
        <title>US Foods, Inc.</title>
        <cusip>90290MAD3</cusip>
        <identifiers>
          <isin value="US90290MAD39"/>
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        <balance>9593000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9452373.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Univision Communications, Inc.</name>
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        <name>Valaris Ltd.</name>
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        <name>Venture Global LNG, Inc.</name>
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          <maturityDt>2031-10-01</maturityDt>
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          <annualizedRt>8.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Wyndham Hotels &amp; Resorts, Inc.</name>
        <lei>549300FE3MQ4RVXXC673</lei>
        <title>Wyndham Hotels &amp; Resorts, Inc.</title>
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          <isin value="US98311AAB17"/>
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        <balance>8109000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7939477.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Wyndham Hotels &amp; Resorts, Inc.</name>
        <lei>549300FE3MQ4RVXXC673</lei>
        <title>Wyndham Hotels &amp; Resorts, Inc.</title>
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          <isin value="US98311AAE55"/>
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        <balance>3093000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3010192.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wynn Macau Ltd.</name>
        <lei>254900NMDQ8ENTHU1I31</lei>
        <title>Wynn Macau Ltd.</title>
        <cusip>98313RAH9</cusip>
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          <isin value="US98313RAH93"/>
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        <balance>7594000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7507088.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wynn Macau Ltd.</name>
        <lei>254900NMDQ8ENTHU1I31</lei>
        <title>Wynn Macau Ltd.</title>
        <cusip>98313RAL0</cusip>
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          <isin value="US98313RAL06"/>
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        <balance>2482000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2439906.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>XHR LP</name>
        <lei>549300M88BPT83ZL2164</lei>
        <title>XHR LP</title>
        <cusip>98372MAC9</cusip>
        <identifiers>
          <isin value="US98372MAC91"/>
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        <balance>7098000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6915063.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</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>XPO, Inc.</name>
        <lei>54930096DB9LCLPN7H13</lei>
        <title>XPO, Inc.</title>
        <cusip>983793AK6</cusip>
        <identifiers>
          <isin value="US983793AK61"/>
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        <balance>5654000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5829206.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</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>XPLR Infrastructure Operating Partners LP</name>
        <lei>549300KJEC5IUVJWR786</lei>
        <title>XPLR Infrastructure Operating Partners LP</title>
        <cusip>98380MAA3</cusip>
        <identifiers>
          <isin value="US98380MAA36"/>
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        <balance>3375000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3587041.13000000</valUSD>
        <pctVal>0.185910690835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</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>XPLR Infrastructure Operating Partners LP</name>
        <lei>549300KJEC5IUVJWR786</lei>
        <title>XPLR Infrastructure Operating Partners LP</title>
        <cusip>98380MAB1</cusip>
        <identifiers>
          <isin value="US98380MAB19"/>
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        <balance>1371000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1464755.84000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.62500000</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>Yondr JK 1 LLC</name>
        <lei>N/A</lei>
        <title>Yondr JK 1 LLC</title>
        <cusip>985925AA4</cusip>
        <identifiers>
          <isin value="US985925AA44"/>
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        <balance>5131000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4886833.21000000</valUSD>
        <pctVal>0.253276866683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</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>Zebra Technologies Corp.</name>
        <lei>PO0I32GKZ3HZMMDPZZ08</lei>
        <title>Zebra Technologies Corp.</title>
        <cusip>989207AD7</cusip>
        <identifiers>
          <isin value="US989207AD75"/>
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        <balance>7174000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7254872.50000000</valUSD>
        <pctVal>0.376008612536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</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>Ziggo Bond Co. BV</name>
        <lei>213800JYI4P7V5QDOG59</lei>
        <title>Ziggo Bond Co. BV</title>
        <cusip>98953GAD7</cusip>
        <identifiers>
          <isin value="US98953GAD79"/>
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        <balance>10139000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8237916.92000000</valUSD>
        <pctVal>0.426958256162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</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>LTRI Holdings LP</name>
        <lei>N/A</lei>
        <title>LTRI Holdings LP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="9C5692S"/>
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        <balance>3250.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>501832.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Grifols SA</name>
        <lei>959800HSSNXWRKBK4N60</lei>
        <title>Grifols SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2961445090"/>
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        <balance>3670000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.86718987"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ardonagh Finco Ltd.</name>
        <lei>254900D2T84O1K03BA28</lei>
        <title>Ardonagh Finco Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2765406371"/>
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        <balance>3200000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Petra Diamonds Ltd.</name>
        <lei>213800X4QZIAVSA12860</lei>
        <title>Petra Diamonds Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG702782084"/>
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        <balance>450230.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Clarios Global LP</name>
        <lei>N/A</lei>
        <title>Clarios Global LP</title>
        <cusip>N/A</cusip>
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          <isin value="XS3091295983"/>
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        <balance>3196000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Iliad Holding SAS</name>
        <lei>9695009BGMXB527HV965</lei>
        <title>Iliad Holding SAS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2943818133"/>
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        <balance>1568000.00000000</balance>
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        <valUSD>1845354.52000000</valUSD>
        <pctVal>0.095641817647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</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>Maxam Prill Sarl</name>
        <lei>984500C4C5B820A6B691</lei>
        <title>Maxam Prill Sarl</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3107119342"/>
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        <balance>5940000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.86718987"/>
        <valUSD>6990457.49000000</valUSD>
        <pctVal>0.362304399120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gruppo San Donato SpA</name>
        <lei>8156003649DB0704FC22</lei>
        <title>Gruppo San Donato SpA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3212436813"/>
        </identifiers>
        <balance>3204000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86718987"/>
        <valUSD>3615032.03000000</valUSD>
        <pctVal>0.187361415086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</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>EURO</name>
        <lei>N/A</lei>
        <title>EURO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="ISO Currency code" value="EUR"/>
        </identifiers>
        <balance>65.84000000</balance>
        <units>OU</units>
        <descOthUnits>Currencies</descOthUnits>
        <currencyConditional curCd="EUR" exchangeRt="0.86718987"/>
        <valUSD>75.92000000</valUSD>
        <pctVal>0.000003934813</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Foreign currencies" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Petra Diamonds US Treasury plc</name>
        <lei>635400LZYOO6WHAO2H58</lei>
        <title>Petra Diamonds US Treasury plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2289899242"/>
        </identifiers>
        <balance>2962035.92250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1707824.93000000</valUSD>
        <pctVal>0.088513875658</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
        </debtSec>
        <securityLending>
          <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>2026-08-31</ncom:dateSigned>
      <ncom:nameOfApplicant>MFS Series Trust III</ncom:nameOfApplicant>
      <ncom:signature>James Byrne</ncom:signature>
      <ncom:signerName>James Byrne</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
