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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>N/A</lei>
        <title>Live Cattle Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="LCZ2"/>
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        <balance>108.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-159117.64000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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              </otherRefInst>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DWS Municipal Income Trust</name>
        <lei>TEL2CK71Z3LE1OCHIB43</lei>
        <title>DWS Municipal Income Trust</title>
        <cusip>233368109</cusip>
        <identifiers>
          <isin value="US2333681094"/>
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        <balance>16894.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MFS Multimarket Income Trust</name>
        <lei>WJEDYZGROW7MJ1187O21</lei>
        <title>MFS Multimarket Income Trust</title>
        <cusip>552737108</cusip>
        <identifiers>
          <isin value="US5527371083"/>
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        <balance>3533.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14944.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chicago Board of Trade</name>
        <lei>N/A</lei>
        <title>Wheat Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="W Z2"/>
        </identifiers>
        <balance>-10.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-53480.00000000</valUSD>
        <pctVal>-0.04255943999</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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            <expDate>2022-12-14</expDate>
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            <unrealizedAppr>-53480.00000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Aerie Pharmaceuticals Inc</name>
        <lei>529900SFXHDHUO324R09</lei>
        <title>Aerie Pharmaceuticals, Inc.</title>
        <cusip>00771V108</cusip>
        <identifiers>
          <isin value="US00771V1089"/>
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        <balance>31143.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>471193.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Euronext Derivatives Amsterdam</name>
        <lei>N/A</lei>
        <title>Amsterdam Index Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="EOV2"/>
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        <balance>-3.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="1.02030000"/>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>AEX-Index</indexName>
                <indexIdentifier>NL0000000107</indexIdentifier>
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            <expDate>2022-10-21</expDate>
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            <unrealizedAppr>22827.05000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Apollo Tactical Income Fund In</name>
        <lei>549300JOTMM1DVBHF402</lei>
        <title>Apollo Tactical Income Fund, Inc.</title>
        <cusip>037638103</cusip>
        <identifiers>
          <isin value="US0376381036"/>
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        <balance>4929.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>58063.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Guggenheim Partners Investment Management LLC</name>
        <lei>N/A</lei>
        <title>Guggenheim Strategy Fund III</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="GFSCX"/>
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        <balance>79031.25000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1898330.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nuveen Quality Municipal Incom</name>
        <lei>549300RDIO25ZNWCOA97</lei>
        <title>Nuveen Quality Municipal Income Fund</title>
        <cusip>67066V101</cusip>
        <identifiers>
          <isin value="US67066V1017"/>
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        <balance>1327.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14597.00000000</valUSD>
        <pctVal>0.011616307884</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Guggenheim Partners Investment Management LLC</name>
        <lei>N/A</lei>
        <title>Guggenheim Strategy Fund II</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="GFSBX"/>
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        <balance>269618.08300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6462745.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Activision Blizzard Inc</name>
        <lei>549300TPQQDBP9GNOF40</lei>
        <title>Activision Blizzard, Inc.</title>
        <cusip>00507V109</cusip>
        <identifiers>
          <isin value="US00507V1098"/>
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        <balance>20393.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1516015.62000000</valUSD>
        <pctVal>1.206446817769</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>iShares Mortgage Real Estate E</name>
        <lei>549300WLIJWYXGL2J018</lei>
        <title>iShares Mortgage Real Estate ETF</title>
        <cusip>46435G342</cusip>
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          <isin value="US46435G3424"/>
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        <balance>-41.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-858.54000000</valUSD>
        <pctVal>-0.00068322703</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nuveen Ohio Quality Municipal</name>
        <lei>549300YQTF12CXCN9E54</lei>
        <title>Nuveen Ohio Quality Municipal Income Fund</title>
        <cusip>670980101</cusip>
        <identifiers>
          <isin value="US6709801012"/>
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        <balance>5258.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61781.50000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KKR Income Opportunities Fund</name>
        <lei>549300H65GA67Q2C3B36</lei>
        <title>KKR Income Opportunities Fund</title>
        <cusip>48249T106</cusip>
        <identifiers>
          <isin value="US48249T1060"/>
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        <balance>1322.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15123.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>London Metal Exchange</name>
        <lei>N/A</lei>
        <title>LME Lead Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="LLX2"/>
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        <balance>-19.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-6592.00000000</valUSD>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Short</payOffProf>
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      <invstOrSec>
        <name>Nuveen New York Quality Munici</name>
        <lei>549300B795LQBEIHRS62</lei>
        <title>Nuveen New York Quality Municipal Income Fund</title>
        <cusip>67066X107</cusip>
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          <isin value="US67066X1072"/>
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        <balance>5800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60726.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Western Asset Managed Municipa</name>
        <lei>549300HVO8EY2T8K4F73</lei>
        <title>Western Asset Managed Municipals Fund, Inc.</title>
        <cusip>95766M105</cusip>
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          <isin value="US95766M1053"/>
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        <balance>9940.00000000</balance>
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      <invstOrSec>
        <name>ICE Futures US Softs</name>
        <lei>N/A</lei>
        <title>Sugar #11 Futures Contracts</title>
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          <ticker value="SBK3"/>
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        <balance>100.00000000</balance>
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        <valUSD>-31183.81000000</valUSD>
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      <invstOrSec>
        <name>ASX Trade24</name>
        <lei>N/A</lei>
        <title>SPI 200 Index Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="XPZ2"/>
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        <balance>-12.00000000</balance>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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              <indexBasketInfo>
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        <name>Unity Software Inc</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Goldman Sachs International</name>
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          <other otherDesc="Internal ID" value="MHSwapGSL1"/>
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        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <counterparties>
              <counterpartyName>Goldman Sachs International</counterpartyName>
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              <indexBasketInfo>
                <indexName>GS Equity Market Neutral Long Custom Basket</indexName>
                <indexIdentifier>N/A</indexIdentifier>
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                      <cusip value="008492100"/>
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                      <cusip value="36467J108"/>
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                    <othIndName>Realty Income Corp.</othIndName>
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                      <cusip value="756109104"/>
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                  <component>
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                  <component>
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                      <cusip value="015271109"/>
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                  <component>
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                      <cusip value="35086T109"/>
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                  <component>
                    <othIndName>Brixmor Property Group, Inc.</othIndName>
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                      <cusip value="11120U105"/>
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                  <component>
                    <othIndName>Equity Residential</othIndName>
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                      <cusip value="29476L107"/>
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                  <component>
                    <othIndName>AvalonBay Communities, Inc.</othIndName>
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                      <cusip value="053484101"/>
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                  <component>
                    <othIndName>NETSTREIT Corp.</othIndName>
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                      <cusip value="64119V303"/>
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                      <cusip value="03027X100"/>
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                  <component>
                    <othIndName>CareTrust REIT, Inc.</othIndName>
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                  <component>
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                      <cusip value="720190206"/>
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                      <cusip value="222795502"/>
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                    <othIndName>National Storage Affiliates Trust</othIndName>
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                      <cusip value="637870106"/>
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                  <component>
                    <othIndName>Orion Office REIT, Inc.</othIndName>
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                      <cusip value="68629Y103"/>
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        <name>Korea Fund Inc/The</name>
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        <name>First Trust Aberdeen Global Op</name>
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        <name>Royce Global Value Trust Inc</name>
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      <invstOrSec>
        <name>BlackRock California Municipal</name>
        <lei>LE6236HQD6DXEGUHE217</lei>
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        <name>New York Mercantile Exchange</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <ticker value="NGZ22"/>
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        <name>Nuveen Short Duration Credit O</name>
        <lei>N0WOEFO1WOMLJYH1PV29</lei>
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        <name>Morgan Stanley Emerging Market</name>
        <lei>541YGIXZ6JJP4EZDJI96</lei>
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          <isin value="US6174771047"/>
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        <balance>3636.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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        <name>Delaware Investments Dividend</name>
        <lei>M2GG85LT8NFXNQIB0573</lei>
        <title>Delaware Investments Dividend &amp; Income Fund, Inc.</title>
        <cusip>245915103</cusip>
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          <isin value="US2459151039"/>
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        <balance>1903.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Aberdeen Total Dynamic Dividen</name>
        <lei>254900D48NKNOGZ95B43</lei>
        <title>Aberdeen Total Dynamic Dividend Fund</title>
        <cusip>00326L100</cusip>
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          <isin value="US00326L1008"/>
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        <balance>30570.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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        <name>iShares Latin America 40 ETF</name>
        <lei>549300LU9LZBB8WGN795</lei>
        <title>iShares Latin America 40 ETF</title>
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          <isin value="US4642873909"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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        <name>Western Asset Intermediate Mun</name>
        <lei>5493000MG5MROBD48K57</lei>
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          <isin value="US9584351095"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Energy Select Sector SPDR Fund</name>
        <lei>54930064FLK0RD4TRU75</lei>
        <title>Energy Select Sector SPDR Fund</title>
        <cusip>81369Y506</cusip>
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          <isin value="US81369Y5069"/>
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        <balance>-116.00000000</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>1</fairValLevel>
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        <name>Invesco High Income Trust II</name>
        <lei>NWTWTK5C3HWITJJQZG91</lei>
        <title>Invesco High Income Trust II</title>
        <cusip>46131F101</cusip>
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          <isin value="US46131F1012"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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        <name>BNY Mellon Strategic Municipal</name>
        <lei>54930044KK4C1VDJ7M52</lei>
        <title>BNY Mellon Strategic Municipal Bond Fund, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Broadcom Inc</name>
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        <title>Broadcom, Inc.</title>
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        <assetCat>EC</assetCat>
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        <name>MFS Charter Income Trust</name>
        <lei>1LFFWFMKO22SVR346G33</lei>
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        <cusip>552727109</cusip>
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        <balance>2519.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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        <name>iShares 7-10 Year Treasury Bon</name>
        <lei>549300XS1PPZG92M8L16</lei>
        <title>iShares 7-10 Year Treasury Bond ETF</title>
        <cusip>464287440</cusip>
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          <isin value="US4642874402"/>
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        <balance>-1479.00000000</balance>
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        <name>Nuveen AMT-Free Municipal Valu</name>
        <lei>5493002K5IM2S29FUR04</lei>
        <title>Nuveen AMT-Free Municipal Value Fund</title>
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        <name>First American Funds</name>
        <lei>N/A</lei>
        <title>First American Government Obligations Fund - Class X</title>
        <cusip>N/A</cusip>
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          <ticker value="FGXXX"/>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Goldman Sachs International</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
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          <other otherDesc="Internal ID" value="MHSwapGSS"/>
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        <name>Nuveen Georgia Quality Municip</name>
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        <name>iShares Russell 1000 Value ETF</name>
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        <name>Shell Midstream Partners LP</name>
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        <name>iShares MSCI EAFE ETF</name>
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        <name>Pioneer Diversified High Incom</name>
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          <ticker value="UXG3"/>
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        <name>Morgan Stanley Capital Services LLC</name>
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          <ticker value="UXZ2"/>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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        <name>Invesco Pennsylvania Value Mun</name>
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        <name>BlackRock Municipal Income Tru</name>
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        <name>Neuberger Berman New York Muni</name>
        <lei>549300QBK683OL6H5P21</lei>
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          <isin value="US64124K1025"/>
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        <name>abrdn Japan Equity Fund Inc</name>
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        <name>Eaton Vance New York Municipal</name>
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          <isin value="US27827Y1091"/>
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        <name>1Life Healthcare Inc</name>
        <lei>N/A</lei>
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        <name>Tenneco Inc</name>
        <lei>549300U0EXXFAQFAD785</lei>
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        <name>ICE Futures US Softs</name>
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          <ticker value="CCZ2"/>
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        <balance>-56.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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        <name>Western Asset Municipal Partne</name>
        <lei>5493001Z97VQ69W5OH84</lei>
        <title>Western Asset Municipal Partners Fund, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Goldman Sachs International</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>GS Equity Market Neutral Custom Basket</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal ID" value="MHSwapGSS1"/>
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        <balance>0.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Goldman Sachs International</counterpartyName>
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                <indexName>GS Equity Market Neutral Short Custom Basket</indexName>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Pioneer Municipal High Income</name>
        <lei>1SKUXW31ZFWF61CETQ82</lei>
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      <invstOrSec>
        <name>VMware Inc</name>
        <lei>549300BUDHS3LRWBE814</lei>
        <title>VMware, Inc.</title>
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        <balance>10070.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gabelli Healthcare &amp; WellnessR</name>
        <lei>549300XULWZNLHFTG832</lei>
        <title>Gabelli Healthcare &amp; WellnessRx Trust</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bancroft Fund Ltd</name>
        <lei>5493000X4Y1FB4G26P45</lei>
        <title>Bancroft Fund Ltd.</title>
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          <isin value="US0596951063"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BNY Mellon High Yield Strategi</name>
        <lei>RH2DL1HWBBECVFYQNK56</lei>
        <title>BNY Mellon High Yield Strategies Fund</title>
        <cusip>09660L105</cusip>
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          <isin value="US09660L1052"/>
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        <balance>71564.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PGIM High Yield Bond Fund Inc</name>
        <lei>P63V0W84H2Z3IOKHSM44</lei>
        <title>PGIM High Yield Bond Fund, Inc.</title>
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          <isin value="US69346H1005"/>
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        <balance>11587.00000000</balance>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>iShares U.S. Real Estate ETF</name>
        <lei>549300SJWB2CPZFPT616</lei>
        <title>iShares U.S. Real Estate ETF</title>
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          <isin value="US4642877397"/>
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        <balance>-74.00000000</balance>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley Emerging Market</name>
        <lei>879N34XPZOOCKFD26737</lei>
        <title>Morgan Stanley Emerging Markets Debt Fund, Inc.</title>
        <cusip>61744H105</cusip>
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          <isin value="US61744H1059"/>
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        <balance>6392.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TEGNA Inc</name>
        <lei>549300YC5EDBGX85AO10</lei>
        <title>TEGNA, Inc.</title>
        <cusip>87901J105</cusip>
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          <isin value="US87901J1051"/>
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        <balance>65842.00000000</balance>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>First Trust/abrdn Emerging Opp</name>
        <lei>700UQMDEFIFKNKMN0L14</lei>
        <title>First Trust/abrdn Emerging Opp</title>
        <cusip>33731K102</cusip>
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          <isin value="US33731K1025"/>
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        <balance>1830.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nuveen Municipal Income Fund I</name>
        <lei>549300B7KLL5KV0GQO76</lei>
        <title>Nuveen Municipal Income Fund, Inc.</title>
        <cusip>67062J102</cusip>
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          <isin value="US67062J1025"/>
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        <balance>1761.00000000</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>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>N/A</lei>
        <title>British Pound Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="BPZ2"/>
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        <balance>76.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>38166.26000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>N/A</lei>
        <title>Swiss Franc Futures Contracts</title>
        <cusip>N/A</cusip>
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          <ticker value="SFZ2"/>
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        <balance>-164.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tower Semiconductor Ltd</name>
        <lei>54930086ZSNXZOUX0C54</lei>
        <title>Tower Semiconductor Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="IL0010823792"/>
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        <balance>22123.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Nuveen Global High Income Fund</name>
        <lei>549300I4IAH7O6ZZEH53</lei>
        <title>Nuveen Global High Income Fund</title>
        <cusip>67075G103</cusip>
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          <isin value="US67075G1031"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ironSource Ltd</name>
        <lei>254900BWEN02WCAXQV35</lei>
        <title>ironSource Ltd.</title>
        <cusip>N/A</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>Ping Identity Holding Corp</name>
        <lei>N/A</lei>
        <title>Ping Identity Holding Corp.</title>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>N/A</lei>
        <title>Live Cattle Futures Contracts</title>
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        <name>BARCLAYS CAPITAL INC.</name>
        <lei>AC28XWWI3WIBK2824319</lei>
        <title>Barclays Capital, Inc.</title>
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      <invstOrSec>
        <name>Euronext Derivatives Paris</name>
        <lei>N/A</lei>
        <title>CAC 40 10 Euro Index Futures Contracts</title>
        <cusip>N/A</cusip>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>QuidelOrtho Corp</name>
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        <name>Duke Realty Corp</name>
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        <name>OMX Nordic Exchange Stockholm</name>
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        <name>Eaton Vance Municipal Bond Fun</name>
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        <name>MFS Municipal Income Trust</name>
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        <name>BlackRock MuniYield Quality Fu</name>
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        <name>BlackRock New York Municipal I</name>
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        <name>Twitter Inc</name>
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        <title>Twitter, Inc.</title>
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        <name>iRobot Corp</name>
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        <name>BlackRock MuniHoldings Fund In</name>
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        <name>Lantheus Holdings, Inc.</name>
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        <name>Virtus Convertible &amp; Income Fu</name>
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        <name>Nuveen Select Maturities Munic</name>
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        <name>Coherent Corp</name>
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        <name>Prologis Inc</name>
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        <name>MasTec Inc</name>
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        <name>DTF Tax-Free Income 2028 Term</name>
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        <title>DTF Tax-Free Income 2028 Term Fund, Inc.</title>
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      <invstOrSec>
        <name>Sprott Focus Trust Inc</name>
        <lei>549300ZO564XGNG81814</lei>
        <title>Sprott Focus Trust, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>iShares National Muni Bond ETF</name>
        <lei>549300H21FUYFQW9N157</lei>
        <title>iShares National Muni Bond ETF</title>
        <cusip>464288414</cusip>
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          <isin value="US4642884146"/>
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        <balance>-3573.00000000</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>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Credit Suisse High Yield Bond</name>
        <lei>549300R9HE7C1IL42N58</lei>
        <title>Credit Suisse High Yield Bond Fund</title>
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          <isin value="US22544F1030"/>
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        <balance>8287.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ICE Futures Europe Commodities</name>
        <lei>N/A</lei>
        <title>Brent Crude Futures Contracts</title>
        <cusip>N/A</cusip>
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          <ticker value="COZ2"/>
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        <balance>3.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>Cowen Inc</name>
        <lei>5493008QI0EFC5WBED75</lei>
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          <isin value="US2236226062"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>iShares iBoxx $ Investment Gra</name>
        <lei>549300FYCXFXG8POR355</lei>
        <title>iShares iBoxx $ Investment Grade Corporate Bond ETF</title>
        <cusip>464287242</cusip>
        <identifiers>
          <isin value="US4642872422"/>
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        <balance>-181.00000000</balance>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Nuveen Municipal Credit Income</name>
        <lei>54930078DL3R0VSYW338</lei>
        <title>Nuveen Municipal Credit Income Fund</title>
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          <isin value="US67070X1019"/>
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        <balance>1261.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Eaton Vance California Municip</name>
        <lei>549300FJGD8HWP11TO17</lei>
        <title>Eaton Vance California Municipal Bond Fund</title>
        <cusip>27828A100</cusip>
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          <isin value="US27828A1007"/>
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        <balance>14084.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>BNY Mellon Strategic Municipal</name>
        <lei>549300FH0LKMOBY7N332</lei>
        <title>BNY Mellon Strategic Municipals, Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Chicago Board of Trade</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Ultra Long Bond Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="WNZ2"/>
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        <balance>10.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-21100.88000000</valUSD>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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        <name>Tortoise Power and Energy Infr</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>912796YC7</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pioneer Municipal High Income</name>
        <lei>UE8ZNXHQH48NNA19I459</lei>
        <title>Pioneer Municipal High Income Advantage Fund, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>iShares Core High Dividend ETF</name>
        <lei>549300M7WVLJWAVPDO86</lei>
        <title>iShares Core High Dividend ETF</title>
        <cusip>46429B663</cusip>
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          <isin value="US46429B6636"/>
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        <balance>-439.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Allspring Income Opportunities</name>
        <lei>5493001HF04TYQLWJP49</lei>
        <title>Allspring Income Opportunities</title>
        <cusip>94987B105</cusip>
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          <isin value="US94987B1052"/>
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        <balance>2390.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Forma Therapeutics Holdings In</name>
        <lei>N/A</lei>
        <title>Forma Therapeutics Holdings, Inc.</title>
        <cusip>34633R104</cusip>
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          <isin value="US34633R1041"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Evo Payments Inc</name>
        <lei>549300Z5UL344C8KEC55</lei>
        <title>Evo Payments, Inc.</title>
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        <name>New Ireland Fund Inc/The</name>
        <lei>549300HNB2YXNXXJQ174</lei>
        <title>New Ireland Fund, Inc.</title>
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        <balance>309.00000000</balance>
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        <name>abrdn Global Dynamic Dividend</name>
        <lei>2549008871AD4OJQWG76</lei>
        <title>abrdn Global Dynamic Dividend</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Global Blood Therapeutics Inc</name>
        <lei>549300U4G0QKK99GRT15</lei>
        <title>Global Blood Therapeutics, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Cboe Futures Exchange</name>
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          <ticker value="UXH3"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Signify Health Inc</name>
        <lei>N/A</lei>
        <title>Signify Health, Inc.</title>
        <cusip>82671G100</cusip>
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          <isin value="US82671G1004"/>
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        <balance>37906.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>iShares Agency Bond ETF</name>
        <lei>54930076RN5EDP4FSR30</lei>
        <title>iShares Agency Bond ETF</title>
        <cusip>464288166</cusip>
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          <isin value="US4642881662"/>
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        <balance>-2477.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-263800.50000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DraftKings Inc</name>
        <lei>N/A</lei>
        <title>DraftKings, Inc.</title>
        <cusip>26142V105</cusip>
        <identifiers>
          <isin value="US26142V1052"/>
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        <balance>-1.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-15.14000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>iShares TIPS Bond ETF</name>
        <lei>549300EHD1VQKMRQ0829</lei>
        <title>iShares TIPS Bond ETF</title>
        <cusip>464287176</cusip>
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          <isin value="US4642871762"/>
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        <balance>-246.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-25805.40000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>New York Mercantile Exchange</name>
        <lei>N/A</lei>
        <title>NY Harbor ULSD Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="HOX2"/>
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        <balance>3.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2817.45000000</valUSD>
        <pctVal>-0.00224212966</pctVal>
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        <assetCat>DCO</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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            <expDate>2022-10-31</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Borsa Italiana (IDEM)</name>
        <lei>N/A</lei>
        <title>FTSE MIB Index Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="STZ2"/>
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        <balance>-5.00000000</balance>
        <units>NC</units>
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        <pctVal>0.031177519395</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <indexBasketInfo>
                <indexName>FTSE MIB Index</indexName>
                <indexIdentifier>IT0003465736</indexIdentifier>
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            <expDate>2022-12-16</expDate>
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            <unrealizedAppr>39177.53000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SPDR Nuveen Bloomberg Municipa</name>
        <lei>54930090LRDSZWQ4P385</lei>
        <title>SPDR Nuveen Bloomberg Municipal Bond ETF</title>
        <cusip>78468R721</cusip>
        <identifiers>
          <isin value="US78468R7219"/>
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        <balance>-14566.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-640758.34000000</valUSD>
        <pctVal>-0.50991615789</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>N/A</lei>
        <title>Japanese Yen Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="JYZ2"/>
        </identifiers>
        <balance>19.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-18992.02000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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            <expDate>2022-12-19</expDate>
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            <unrealizedAppr>-18992.02000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>London Metal Exchange</name>
        <lei>N/A</lei>
        <title>LME Zinc Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="LXX2"/>
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        <balance>-5.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>9947.50000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Zinc</issueTitle>
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                  <cusip value="N/A"/>
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            <expDate>2022-11-14</expDate>
            <notionalAmt>-385072.50000000</notionalAmt>
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            <unrealizedAppr>9947.50000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>N/A</lei>
        <title>S&amp;P 500 Index Mini Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ESZ2"/>
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        <balance>8.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-91314.32000000</valUSD>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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            <expDate>2022-12-16</expDate>
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            <unrealizedAppr>-91314.32000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BlackRock MuniYield Fund Inc</name>
        <lei>AVXF9RZVI4EDWXACOH81</lei>
        <title>BlackRock MuniYield Fund, Inc.</title>
        <cusip>09253W104</cusip>
        <identifiers>
          <isin value="US09253W1045"/>
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        <balance>15251.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>151594.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Principal Real Estate Income F</name>
        <lei>549300HK3LIJEGLGMK36</lei>
        <title>Principal Real Estate Income Fund</title>
        <cusip>74255X104</cusip>
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          <isin value="US74255X1046"/>
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        <balance>1243.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>N/A</lei>
        <title>New Zealand Dollar Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="NVZ2"/>
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        <balance>87.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-324693.14000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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            <expDate>2022-12-19</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nuveen New York Select Tax-Fre</name>
        <lei>549300O6PCT8Y389MD53</lei>
        <title>Nuveen New York Select Tax-Free Income Portfolio</title>
        <cusip>67063V104</cusip>
        <identifiers>
          <isin value="US67063V1044"/>
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        <balance>888.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer, LP</title>
        <cusip>29273V100</cusip>
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          <isin value="US29273V1008"/>
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        <balance>0.47000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MFS Intermediate Income Trust</name>
        <lei>WGVMPY7PP3OZCAPKRD65</lei>
        <title>MFS Intermediate Income Trust</title>
        <cusip>55273C107</cusip>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Meff Renta Variable (Madrid)</name>
        <lei>N/A</lei>
        <title>IBEX 35 Index Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="IBV2"/>
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        <balance>-11.00000000</balance>
        <units>NC</units>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Short</payOffProf>
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      <invstOrSec>
        <name>Herzfeld Caribbean Basin Fund</name>
        <lei>549300ML0K6PRXPULR11</lei>
        <title>Herzfeld Caribbean Basin Fund, Inc.</title>
        <cusip>42804T106</cusip>
        <identifiers>
          <isin value="US42804T1060"/>
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        <balance>7150.56900000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BlackRock Municipal Income Fun</name>
        <lei>W7IEW9KTXVCYG8ZQQV11</lei>
        <title>BlackRock Municipal Income Fund, Inc.</title>
        <cusip>09253X102</cusip>
        <identifiers>
          <isin value="US09253X1028"/>
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        <balance>1375.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14932.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>New York Community Bancorp Inc</name>
        <lei>529900HVXOTLY61GL030</lei>
        <title>New York Community Bancorp, Inc.</title>
        <cusip>649445103</cusip>
        <identifiers>
          <isin value="US6494451031"/>
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        <balance>-61933.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-528288.49000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Invesco California Value Munic</name>
        <lei>0O4FOPVOK8KA2I2US555</lei>
        <title>Invesco California Value Municipal Income Trust</title>
        <cusip>46132H106</cusip>
        <identifiers>
          <isin value="US46132H1068"/>
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        <balance>1612.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14491.88000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Invesco Senior Loan ETF</name>
        <lei>549300SIHU6DQELRNG59</lei>
        <title>Invesco Senior Loan ETF</title>
        <cusip>46138G508</cusip>
        <identifiers>
          <isin value="US46138G5080"/>
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        <balance>-58052.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1172069.88000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Meridian Bioscience Inc</name>
        <lei>549300ELSRZEFFFRX195</lei>
        <title>Meridian Bioscience, Inc.</title>
        <cusip>589584101</cusip>
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          <isin value="US5895841014"/>
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        <balance>14850.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>468220.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nuveen California Quality Muni</name>
        <lei>549300ZT6V9X5U9BHR46</lei>
        <title>Nuveen California Quality Municipal Income Fund</title>
        <cusip>67066Y105</cusip>
        <identifiers>
          <isin value="US67066Y1055"/>
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        <balance>1345.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14754.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Neuberger Berman California Mu</name>
        <lei>5493003VDAWQHC3PB533</lei>
        <title>Neuberger Berman California Municipal Fund, Inc.</title>
        <cusip>64123C101</cusip>
        <identifiers>
          <isin value="US64123C1018"/>
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        <balance>3641.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38230.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>912796YP8</cusip>
        <identifiers>
          <isin value="US912796YP80"/>
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        <balance>5212000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5197881.99000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-08</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <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>ICE Futures US Softs</name>
        <lei>N/A</lei>
        <title>Cotton #2 Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CTZ2"/>
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        <balance>-1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5960.18000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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            <expDate>2022-12-07</expDate>
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            <unrealizedAppr>5960.18000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Biohaven Pharmaceutical Holdin</name>
        <lei>5299007STZTNN32O9920</lei>
        <title>Biohaven Pharmaceutical Holding Company Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VGG111961055"/>
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        <balance>5037.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>761443.29000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SPDR Bloomberg Convertible Sec</name>
        <lei>549300IXKU3G7R6DMX93</lei>
        <title>SPDR Bloomberg Convertible Securities ETF</title>
        <cusip>78464A359</cusip>
        <identifiers>
          <isin value="US78464A3591"/>
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        <balance>-5571.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-352644.30000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nuveen Massachusetts Quality M</name>
        <lei>549300RK5RSCWBBL2616</lei>
        <title>Nuveen Massachusetts Quality Municipal Income Fund</title>
        <cusip>67061E104</cusip>
        <identifiers>
          <isin value="US67061E1047"/>
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        <balance>1417.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15062.71000000</valUSD>
        <pctVal>0.011986920389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Spirit Airlines Inc</name>
        <lei>549300DCAFIXFNFR3304</lei>
        <title>Spirit Airlines, Inc.</title>
        <cusip>848577102</cusip>
        <identifiers>
          <isin value="US8485771021"/>
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        <balance>59579.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1121276.78000000</valUSD>
        <pctVal>0.892313235578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ASX Trade24</name>
        <lei>N/A</lei>
        <title>Australian Government 10 Year Bond Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="XMZ2"/>
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        <balance>105.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.56330000"/>
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        <assetCat>DIR</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ICE Futures Europe Financials</name>
        <lei>N/A</lei>
        <title>FTSE 100 Index Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="Z Z2"/>
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        <balance>-30.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.89547000"/>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <indexBasketInfo>
                <indexName>FTSE 100 Index</indexName>
                <indexIdentifier>GB0001383545</indexIdentifier>
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            <expDate>2022-12-16</expDate>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>N/A</lei>
        <title>Cattle Feeder Futures Contracts</title>
        <cusip>N/A</cusip>
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          <ticker value="FCF3"/>
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        <balance>-45.00000000</balance>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>Nuveen AMT-Free Quality Munici</name>
        <lei>549300OTYQOOXS64NI63</lei>
        <title>Nuveen AMT-Free Quality Municipal Income Fund</title>
        <cusip>670657105</cusip>
        <identifiers>
          <isin value="US6706571055"/>
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        <balance>1363.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Miller/Howard High Dividend Fu</name>
        <lei>549300ZCY8ROSDMUUZ28</lei>
        <title>Miller/Howard High Dividend Fund</title>
        <cusip>600379101</cusip>
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          <isin value="US6003791018"/>
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        <balance>1604.00000000</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>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Western Asset Municipal High I</name>
        <lei>549300V8S0EC6SV7H926</lei>
        <title>Western Asset Municipal High Income Fund, Inc.</title>
        <cusip>95766N103</cusip>
        <identifiers>
          <isin value="US95766N1037"/>
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        <balance>2444.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15152.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>iShares Russell 2000 ETF</name>
        <lei>549300O80OAR5VTWR172</lei>
        <title>iShares Russell 2000 Index ETF</title>
        <cusip>464287655</cusip>
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          <isin value="US4642876555"/>
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        <balance>-2173.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-358371.16000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Federated Hermes Premier Munic</name>
        <lei>C0TUI5ZPEIY028NN4Q23</lei>
        <title>Federated Hermes Premier Municipal Income Fund</title>
        <cusip>31423P108</cusip>
        <identifiers>
          <isin value="US31423P1084"/>
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        <balance>5171.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>53468.14000000</valUSD>
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      <invstOrSec>
        <name>Yamana Gold Inc</name>
        <lei>54930002VY22NXG01418</lei>
        <title>Yamana Gold, Inc.</title>
        <cusip>98462Y100</cusip>
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          <isin value="CA98462Y1007"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tekla Life Sciences Investors</name>
        <lei>5493007BYZPSOVVS0M04</lei>
        <title>Tekla Life Sciences Investors</title>
        <cusip>87911K100</cusip>
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          <isin value="US87911K1007"/>
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        <balance>1131.00000000</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>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Apollo Senior Floating Rate Fu</name>
        <lei>5493005XHGCCBXT5YQ39</lei>
        <title>Apollo Senior Floating Rate Fund, Inc.</title>
        <cusip>037636107</cusip>
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          <isin value="US0376361079"/>
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        <balance>12029.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SPDR S&amp;P Biotech ETF</name>
        <lei>549300Y3ODFMPD5XXL58</lei>
        <title>SPDR S&amp;P Biotech ETF</title>
        <cusip>78464A870</cusip>
        <identifiers>
          <isin value="US78464A8707"/>
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        <balance>-84.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-6662.88000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Schwab U.S. Aggregate Bond ETF</name>
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        <title>Schwab U.S. Aggregate Bond ETF</title>
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          <isin value="US8085248396"/>
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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>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Eurex</name>
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        <title>Euro - Bund Futures Contracts</title>
        <cusip>N/A</cusip>
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          <ticker value="RXZ2"/>
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        <balance>23.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="1.02030000"/>
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        <pctVal>-0.01923734435</pctVal>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MKS Instruments Inc</name>
        <lei>549300KEQATBHAGVF505</lei>
        <title>MKS Instruments, Inc.</title>
        <cusip>55306N104</cusip>
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          <isin value="US55306N1046"/>
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        <balance>-0.27680000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MFS Investment Grade Municipal</name>
        <lei>TQV30XJRB3S7V50XRW52</lei>
        <title>MFS Investment Grade Municipal Trust</title>
        <cusip>59318B108</cusip>
        <identifiers>
          <isin value="US59318B1089"/>
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        <balance>2304.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Guggenheim Partners Investment Management LLC</name>
        <lei>N/A</lei>
        <title>Guggenheim Ultra Short Duration Fund - Institutional Class</title>
        <cusip>40169J523</cusip>
        <identifiers>
          <isin value="US40169J5231"/>
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        <balance>674462.34490000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6468093.88000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nuveen Real Asset Income and G</name>
        <lei>RQLXTE3CBG56EZF1BQ60</lei>
        <title>Nuveen Real Asset Income and Growth Fund</title>
        <cusip>67074Y105</cusip>
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          <isin value="US67074Y1055"/>
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        <balance>15665.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>174664.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DWS Strategic Municipal Income</name>
        <lei>HW9ZECORLBPA6LHYL567</lei>
        <title>DWS Strategic Municipal Income Trust</title>
        <cusip>23342Q101</cusip>
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          <isin value="US23342Q1013"/>
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        <balance>2334.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18461.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BlackRock MuniVest Fund II Inc</name>
        <lei>TC1SINW7C50S8NN8GU32</lei>
        <title>BlackRock MuniVest Fund II, Inc.</title>
        <cusip>09253T101</cusip>
        <identifiers>
          <isin value="US09253T1016"/>
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        <balance>1438.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14509.42000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BlackRock Municipal Income Tru</name>
        <lei>17UVWS2OK706BUPLKK60</lei>
        <title>BlackRock Municipal Income Trust II</title>
        <cusip>09249N101</cusip>
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          <isin value="US09249N1019"/>
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        <balance>1471.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14710.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Western Asset Inflation-Linked</name>
        <lei>549300Z3DNF4FJBJ4A87</lei>
        <title>Western Asset Inflation-Linked Opportunities &amp; Income Fund</title>
        <cusip>95766R104</cusip>
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          <isin value="US95766R1041"/>
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        <balance>1591.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>iShares Preferred &amp; Income Sec</name>
        <lei>549300YX74JNY54XCY80</lei>
        <title>iShares Preferred &amp; Income Securities ETF</title>
        <cusip>464288687</cusip>
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          <isin value="US4642886877"/>
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        <balance>-315.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-9976.05000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bluerock Residential Growth RE</name>
        <lei>549300KWLV0TGICOUU26</lei>
        <title>Bluerock Residential Growth REIT, Inc.</title>
        <cusip>09627J102</cusip>
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          <isin value="US09627J1025"/>
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        <balance>13268.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>354919.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>STORE Capital Corp</name>
        <lei>5493004EA6C9IHDZ7N66</lei>
        <title>STORE Capital Corp.</title>
        <cusip>862121100</cusip>
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          <isin value="US8621211007"/>
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        <balance>30223.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>946886.59000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Tri-Continental Corp</name>
        <lei>6QVMFZKY1QSOOIHD7Y77</lei>
        <title>Tri-Continental Corp.</title>
        <cusip>895436103</cusip>
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          <isin value="US8954361031"/>
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        <balance>8856.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>BlackRock MuniHoldings New Yor</name>
        <lei>YP1D2S6Y4JY0A7W3DV93</lei>
        <title>BlackRock MuniHoldings New York Quality Fund, Inc.</title>
        <cusip>09255C106</cusip>
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          <isin value="US09255C1062"/>
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        <balance>13268.00000000</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>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Covetrus Inc</name>
        <lei>5493009S30DUFCF75V87</lei>
        <title>Covetrus, Inc.</title>
        <cusip>22304C100</cusip>
        <identifiers>
          <isin value="US22304C1009"/>
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        <balance>62481.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1304603.28000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Infrastructure and Energy Alte</name>
        <lei>549300CZ3FQ7JWXZHD54</lei>
        <title>Infrastructure and Energy Alternatives, Inc.</title>
        <cusip>45686J104</cusip>
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          <isin value="US45686J1043"/>
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        <balance>28464.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>385402.56000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Chicago Board of Trade</name>
        <lei>N/A</lei>
        <title>Corn Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="C Z2"/>
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        <balance>-3.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3521.50000000</valUSD>
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        <assetCat>DCO</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
              <counterpartyLei>FOR8UP27PHTHYVLBNG30</counterpartyLei>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
                <issueTitle>Corn</issueTitle>
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                  <cusip value="N/A"/>
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            <expDate>2022-12-14</expDate>
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      <invstOrSec>
        <name>Sierra Wireless Inc</name>
        <lei>549300E33RZ5BJ726L53</lei>
        <title>Sierra Wireless, Inc.</title>
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        <balance>31107.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>946897.08000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>London Metal Exchange</name>
        <lei>N/A</lei>
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        <balance>2.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-38678.50000000</valUSD>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>SPDR Nuveen Bloomberg High Yie</name>
        <lei>54930036TY0W1EQHEK50</lei>
        <title>SPDR Nuveen Bloomberg High Yield Municipal Bond ETF</title>
        <cusip>78464A284</cusip>
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          <isin value="US78464A2841"/>
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        <balance>-6105.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-292551.60000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ICE Futures US Softs</name>
        <lei>N/A</lei>
        <title>Sugar #11 Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SBN3"/>
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        <balance>89.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-14329.26000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>Montreal Exchange</name>
        <lei>N/A</lei>
        <title>Canadian Government 10 Year Bond Futures Contracts</title>
        <cusip>N/A</cusip>
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          <ticker value="CNZ2"/>
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        <balance>-180.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.38076000"/>
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        <pctVal>0.159597557795</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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            <expDate>2022-12-19</expDate>
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      <invstOrSec>
        <name>Raymond James Financial Inc</name>
        <lei>RGUZHJ05YTITL6D76949</lei>
        <title>Raymond James Financial, Inc.</title>
        <cusip>754730109</cusip>
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          <isin value="US7547301090"/>
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        <balance>-1.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-98.82000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Commodity Exchange, Inc.</name>
        <lei>N/A</lei>
        <title>Gold 100 oz. Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="GCZ2"/>
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        <balance>-10.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>80480.33000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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            <expDate>2022-12-28</expDate>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LMP Capital and Income Fund In</name>
        <lei>549300YJH1GYGXCCQ467</lei>
        <title>LMP Capital and Income Fund, Inc.</title>
        <cusip>50208A102</cusip>
        <identifiers>
          <isin value="US50208A1025"/>
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        <balance>9567.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>107820.09000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BlackRock MuniYield Quality Fu</name>
        <lei>UB5J2GS6Q51M6A2L8886</lei>
        <title>BlackRock MuniYield Quality Fund III, Inc.</title>
        <cusip>09254E103</cusip>
        <identifiers>
          <isin value="US09254E1038"/>
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        <balance>1412.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14727.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Eurex</name>
        <lei>N/A</lei>
        <title>Euro STOXX 50 Index Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="VGZ2"/>
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        <balance>-79.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.02030000"/>
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        <pctVal>0.159513823609</pctVal>
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        <assetCat>DE</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <indexBasketInfo>
                <indexName>EURO STOXX 50 Price EUR</indexName>
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      <invstOrSec>
        <name>Eaton Vance California Municip</name>
        <lei>5493000EWT76UUJKIW67</lei>
        <title>Eaton Vance California Municipal Income Trust</title>
        <cusip>27826F101</cusip>
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          <isin value="US27826F1012"/>
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        <balance>5380.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Nuveen Preferred &amp; Income Secu</name>
        <lei>1V4KW82TOLZ6S7J7N128</lei>
        <title>Nuveen Preferred &amp; Income Securities Fund</title>
        <cusip>67072C105</cusip>
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          <isin value="US67072C1053"/>
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        <balance>2215.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BrandywineGLOBAL Global Income</name>
        <lei>549300P4CDQCJBGI0833</lei>
        <title>BrandywineGLOBAL Global Income Opportunities Fund, Inc.</title>
        <cusip>10537L104</cusip>
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          <isin value="US10537L1044"/>
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        <balance>1887.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Citrix Systems Inc</name>
        <lei>HCTKJGUQOPZ5NBK7NP58</lei>
        <title>Citrix Systems, Inc.</title>
        <cusip>177376100</cusip>
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        <balance>19235.00000000</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>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>iShares iBoxx High Yield Corpo</name>
        <lei>N/A</lei>
        <title>iShares iBoxx High Yield Corporate Bond ETF</title>
        <cusip>464288513</cusip>
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          <isin value="US4642885135"/>
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        <balance>-21184.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-1512325.76000000</valUSD>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>iShares Russell 1000 Growth ET</name>
        <lei>549300H1KWQVEKI25E14</lei>
        <title>iShares Russell 1000 Growth ETF</title>
        <cusip>464287614</cusip>
        <identifiers>
          <isin value="US4642876142"/>
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        <balance>-873.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Umpqua Holdings Corp</name>
        <lei>5299002ENJ7CY215BW86</lei>
        <title>Umpqua Holdings Corp.</title>
        <cusip>904214103</cusip>
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          <isin value="US9042141039"/>
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        <balance>14485.00000000</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>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Nuveen Floating Rate Income Op</name>
        <lei>6TG15UBKG3HMZ9US3I68</lei>
        <title>Nuveen Floating Rate Income Opportunity Fund</title>
        <cusip>6706EN100</cusip>
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          <isin value="US6706EN1001"/>
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        <balance>20714.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>166954.84000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chicago Board of Trade</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Long Bond Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="USZ2"/>
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        <balance>15.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-12503.57000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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        <name>Cboe Futures Exchange</name>
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          <ticker value="UXF3"/>
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      <invstOrSec>
        <name>MoneyGram International Inc</name>
        <lei>5299002DLX0Q04KC4156</lei>
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      <invstOrSec>
        <name>New York Mercantile Exchange</name>
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          <ticker value="NGX22"/>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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        <name>SPDR Gold Shares</name>
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          <isin value="US78463V1070"/>
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        <name>Western Asset Investment Grade</name>
        <lei>549300W1ZCJRJ5Y1E041</lei>
        <title>Western Asset Investment Grade Income Fund, Inc.</title>
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          <isin value="US95766T1007"/>
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        <name>Virtus Convertible &amp; Income Fu</name>
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        <name>Virtus Total Return Fund Inc</name>
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        <name>Montreal Exchange</name>
        <lei>N/A</lei>
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        <identifiers>
          <ticker value="PTZ2"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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        <name>Royce Micro-Cap Trust Inc</name>
        <lei>254900D3WFIV4SD8EF19</lei>
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          <isin value="US7809151043"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Chicago Mercantile Exchange</name>
        <lei>N/A</lei>
        <title>Canadian Dollar Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CDZ2"/>
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        <balance>17.00000000</balance>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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        <name>Western Asset Emerging Markets</name>
        <lei>549300F68574RU1BKP84</lei>
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        <name>ChannelAdvisor Corp</name>
        <lei>549300KE5CWXBSGWXT83</lei>
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        <name>BlackRock MuniYield New York Q</name>
        <lei>158AYFGDRFUGVL3TD012</lei>
        <title>BlackRock MuniYield New York Quality Fund, Inc.</title>
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        <name>Nuveen Floating Rate Income Fu</name>
        <lei>HJXCPP3KYE3BVU373P27</lei>
        <title>Nuveen Floating Rate Income Fund/Closed-end Fund</title>
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        <name>Utilities Select Sector SPDR F</name>
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      <invstOrSec>
        <name>Goldman Sachs International</name>
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      <invstOrSec>
        <name>Pioneer High Income Fund Inc</name>
        <lei>GRH7C46DLKO4V5KVBT29</lei>
        <title>Pioneer High Income Fund, Inc.</title>
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          <isin value="US72369H1068"/>
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        <balance>2283.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MFS High Yield Municipal Trust</name>
        <lei>A8WLLLHJKX1MW5QPZU93</lei>
        <title>MFS High Yield Municipal Trust</title>
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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>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ICE Futures Europe Commodities</name>
        <lei>N/A</lei>
        <title>Low Sulphur Gas Oil Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="QSX2"/>
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        <balance>-23.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>South Jersey Industries Inc</name>
        <lei>549300DJYWYT5VXLFA46</lei>
        <title>South Jersey Industries, Inc.</title>
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          <isin value="US8385181081"/>
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        <balance>41926.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>New Germany Fund Inc/The</name>
        <lei>549300TPS2RTTJ8O3C08</lei>
        <title>New Germany Fund, Inc.</title>
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          <isin value="US6444651060"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gabelli Global Small and Mid C</name>
        <lei>54930027RS7HE8UD3187</lei>
        <title>Gabelli Global Small and Mid Capital Value Trust</title>
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          <isin value="US36249W1045"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ellsworth Growth and Income Fu</name>
        <lei>549300GYFOXHCDQTI772</lei>
        <title>Ellsworth Growth and Income Fund Ltd.</title>
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          <isin value="US2890741067"/>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>N/A</lei>
        <title>Lean Hogs Futures Contracts</title>
        <cusip>N/A</cusip>
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          <ticker value="LHZ2"/>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>Alexion Pharmaceuticals, Inc.</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <ticker value="AACVR"/>
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        <balance>34843.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>VanEck Gold Miners ETF/USA</name>
        <lei>54930031TORTKAM9TJ98</lei>
        <title>VanEck Gold Miners ETF</title>
        <cusip>92189F106</cusip>
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          <isin value="US92189F1066"/>
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        <balance>-1176.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Barings Global Short Duration</name>
        <lei>549300WWIZCL845OP089</lei>
        <title>Barings Global Short Duration High Yield Fund</title>
        <cusip>06760L100</cusip>
        <identifiers>
          <isin value="US06760L1008"/>
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        <balance>1188.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Mexico Fund Inc/The</name>
        <lei>N/A</lei>
        <title>Mexico Fund, Inc.</title>
        <cusip>592835102</cusip>
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          <isin value="US5928351023"/>
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        <balance>1381.00000000</balance>
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        <name>Flagstar Bancorp Inc</name>
        <lei>549300Q22V2Y3J4R2715</lei>
        <title>Flagstar Bancorp, Inc.</title>
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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>1</fairValLevel>
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        <name>J.P. MORGAN SECURITIES LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>J.P. Morgan Securities LLC</title>
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        <curCd>USD</curCd>
        <valUSD>25388735.33000000</valUSD>
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        <assetCat>RA</assetCat>
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        <securityLending>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services LLC</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>MS Equity Market Neutral Custom Basket</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal ID" value="MHSwapL1"/>
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        <balance>0.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-2041388.57000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>Morgan Stanley Capital Services LLC</counterpartyName>
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                    <othIndName>National Storage Affiliates Trust</othIndName>
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            <notionalAmt>308150.47000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>33069.53000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICE Futures US Softs</name>
        <lei>N/A</lei>
        <title>Coffee 'C' Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="KCZ2"/>
        </identifiers>
        <balance>8.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-41493.38000000</valUSD>
        <pctVal>-0.03302047525</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
              <counterpartyLei>FOR8UP27PHTHYVLBNG30</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Coffee 'C'</issueTitle>
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                  <cusip value="N/A"/>
                  <other otherDesc="Physical Asset" value="Coffee 'C'"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2022-12-19</expDate>
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            <curCd>USD</curCd>
            <unrealizedAppr>-41493.38000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Nuveen New York AMT-Free Quali</name>
        <lei>549300V4X2BF3UXSCQ58</lei>
        <title>Nuveen New York AMT-Free Quality Municipal Income Fund</title>
        <cusip>670656107</cusip>
        <identifiers>
          <isin value="US6706561072"/>
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        <balance>22342.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>219398.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Eaton Vance Floating-Rate Inco</name>
        <lei>HQOIMOIFYDO5NKVU2640</lei>
        <title>Eaton Vance Floating-Rate Income Trust</title>
        <cusip>278279104</cusip>
        <identifiers>
          <isin value="US2782791048"/>
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        <balance>1352.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15358.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Western Asset Inflation - Link</name>
        <lei>549300BKG7Y2MQAORR48</lei>
        <title>Western Asset Inflation - Linked Securities &amp; Income Fund</title>
        <cusip>95766Q106</cusip>
        <identifiers>
          <isin value="US95766Q1067"/>
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        <balance>1624.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14534.80000000</valUSD>
        <pctVal>0.011566809058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>N/A</lei>
        <title>Euro FX Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ECZ2"/>
        </identifiers>
        <balance>-10.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5696.65000000</valUSD>
        <pctVal>0.004533400034</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
              <counterpartyLei>FOR8UP27PHTHYVLBNG30</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Euro</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="Currency" value="Euro"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2022-12-19</expDate>
            <notionalAmt>-1237509.15000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>5696.65000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>New York Mercantile Exchange</name>
        <lei>N/A</lei>
        <title>Gasoline RBOB Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="XBZ2"/>
        </identifiers>
        <balance>28.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>42264.60000000</valUSD>
        <pctVal>0.033634212933</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
              <counterpartyLei>FOR8UP27PHTHYVLBNG30</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Bloomberg 84 Octane RBOB Gasoline Prompt Month Spot Pipeline Px/New York Harbor</indexName>
                <indexIdentifier>N/A</indexIdentifier>
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            </descRefInstrmnt>
            <expDate>2022-11-30</expDate>
            <notionalAmt>2638074.60000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>42264.60000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICE Futures Europe Financials</name>
        <lei>N/A</lei>
        <title>Long Gilt Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="G Z2"/>
        </identifiers>
        <balance>41.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.89547000"/>
        <valUSD>-138409.15000000</valUSD>
        <pctVal>-0.11014614649</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>UK 10yr 4.0 %</issueTitle>
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                  <cusip value="N/A"/>
                  <other otherDesc="Interest Rate Future" value="UK 10yr 4.0 %"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2022-12-28</expDate>
            <notionalAmt>4512398.80000000</notionalAmt>
            <curCd>GBP</curCd>
            <unrealizedAppr>-138409.15000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Western Asset Global High Inco</name>
        <lei>549300JWVV1XIQ66WD13</lei>
        <title>Western Asset Global High Income Fund, Inc.</title>
        <cusip>95766B109</cusip>
        <identifiers>
          <isin value="US95766B1098"/>
        </identifiers>
        <balance>2261.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14832.16000000</valUSD>
        <pctVal>0.011803448458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BNY Mellon Municipal Income In</name>
        <lei>549300BKYDDROJTY1E24</lei>
        <title>BNY Mellon Municipal Income, Inc.</title>
        <cusip>05589T104</cusip>
        <identifiers>
          <isin value="US05589T1043"/>
        </identifiers>
        <balance>7517.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>45177.17000000</valUSD>
        <pctVal>0.035952039189</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commodity Exchange, Inc.</name>
        <lei>N/A</lei>
        <title>Silver Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SIZ2"/>
        </identifiers>
        <balance>-7.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>57198.65000000</valUSD>
        <pctVal>0.045518745560</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
              <counterpartyLei>FOR8UP27PHTHYVLBNG30</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Silver</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="Physical Asset" value="Silver"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2022-12-28</expDate>
            <notionalAmt>-722548.65000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>57198.65000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICE Futures Europe Commodities</name>
        <lei>N/A</lei>
        <title>Low Sulphur Gas Oil Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="QSZ2"/>
        </identifiers>
        <balance>29.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-98092.08000000</valUSD>
        <pctVal>-0.07806177997</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Low Sulphur Gas Oil</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="Physical Asset" value="Low Sulphur Gas Oil"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2022-12-12</expDate>
            <notionalAmt>2710267.08000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-98092.08000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>London Metal Exchange</name>
        <lei>N/A</lei>
        <title>LME Primary Aluminum Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="LAX22"/>
        </identifiers>
        <balance>-17.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>37642.75000000</valUSD>
        <pctVal>0.029956139864</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
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                <issuerName>N/A</issuerName>
                <issueTitle>LME Primary Aluminum</issueTitle>
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                  <other otherDesc="Physical Asset" value="LME Primary Aluminum"/>
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              </otherRefInst>
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            <expDate>2022-11-14</expDate>
            <notionalAmt>-952774.00000000</notionalAmt>
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            <unrealizedAppr>37642.75000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>European Equity Fund Inc/The</name>
        <lei>5493008XBHSH29XH9329</lei>
        <title>European Equity Fund, Inc.</title>
        <cusip>298768102</cusip>
        <identifiers>
          <isin value="US2987681028"/>
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        <balance>1153.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7160.25000000</valUSD>
        <pctVal>0.005698134447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2022-10-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Rydex Series Funds</ncom:nameOfApplicant>
      <ncom:signature>Jim Howley</ncom:signature>
      <ncom:signerName>Jim Howley</ncom:signerName>
      <ncom:title>CFO</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
