<SEC-DOCUMENT>0001752724-24-076131.txt : 20240401
<SEC-HEADER>0001752724-24-076131.hdr.sgml : 20240401
<ACCEPTANCE-DATETIME>20240401124708
ACCESSION NUMBER:		0001752724-24-076131
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20240131
FILED AS OF DATE:		20240401
DATE AS OF CHANGE:		20240401
PERIOD START:           	20241031

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEMPLETON GLOBAL INCOME FUND
		CENTRAL INDEX KEY:			0000828803
		ORGANIZATION NAME:           	
		IRS NUMBER:				222864496
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05459
		FILM NUMBER:		24807507

	BUSINESS ADDRESS:	
		STREET 1:		300 S.E. 2ND STREET
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33301-1923
		BUSINESS PHONE:		9545277500

	MAIL ADDRESS:	
		STREET 1:		300 S.E. 2ND STREET
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33301-1923

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TEMPLETON GLOBAL INCOME FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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        <name>Weibo Corp</name>
        <lei>549300Q9ID4640FE0422</lei>
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        <invCountry>KY</invCountry>

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        <name>Nuveen Variable Rate Preferred &amp; Income Fund</name>
        <lei>549300B5AMVHD58MNL94</lei>
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          <isin value="US67080R1023"/>
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        <name>Invesco Quality Municipal Income Trust</name>
        <lei>WLEGDSEH0E242WVNUY02</lei>
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        <name>Clubcorp Holdings Inc</name>
        <lei>549300XWSO7KBICXNW37</lei>
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      <invstOrSec>
        <name>J.P. Morgan</name>
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                <issuerName>Henderson Opportunities Trust PLC</issuerName>
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            <swapFlag>Y</swapFlag>
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        <name>Invesco Pennsylvania Value Municipal Income Trust</name>
        <lei>549300S5KHBL3XISY922</lei>
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          <isin value="US46132K1097"/>
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        <name>The Options Clearing Corporation</name>
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          <ticker value="3EI99L8L"/>
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        <derivativeInfo>
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        <name>J.P. Morgan</name>
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          <other otherDesc="INTERNAL ID" value="COM_627J"/>
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        <balance>1.00000000</balance>
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        <name>Wam Global Ltd</name>
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        <name>Jpmorgan Us Treasury Plus Money Market Fund</name>
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        <title>JPMorgan US Treasury Plus Money Market Fund</title>
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        <name>Gabelli Dividend &amp; Income Trust/the</name>
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          <isin value="US36242H1041"/>
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        <name>Chs/community Health Sys</name>
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        <name>J.P. Morgan</name>
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        <title>Recv Mte Ln Trs:bm8h3x0</title>
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        <name>J.P. Morgan</name>
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        <title>Recv Eot Ln Trs:0019772</title>
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              <counterpartyName>J.P. Morgan</counterpartyName>
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                <issuerName>European Opportunities Trust PLC</issuerName>
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            <swapFlag>Y</swapFlag>
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        <name>Blackrock Muniholdings New York Quality Fund Inc</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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        <name>Tortoise Energy Independence Fund Inc</name>
        <lei>5493005UTWHF1U2B2H30</lei>
        <title>Tortoise Energy Independence Fund, Inc.</title>
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          <isin value="US89148K2006"/>
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        <balance>17699.00000000</balance>
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        <name>Abrdn Total Dynamic Dividend Fund</name>
        <lei>254900D48NKNOGZ95B43</lei>
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              <counterpartyName>J.P. Morgan</counterpartyName>
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                <issuerName>Aberdeen Diversified Income an</issuerName>
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            <swapFlag>Y</swapFlag>
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        <name>Adams Natural Resources Fund Inc</name>
        <lei>549300LPTQAH0G3NGD42</lei>
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          <isin value="US00548F1057"/>
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        <name>Abrdn Global Infrastructure Income Fund</name>
        <lei>549300ZRYJVK3J3YXY67</lei>
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          <isin value="US00326W1062"/>
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        <name>Flaherty &amp; Crumrine Preferred And Income Fund Inc</name>
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          <isin value="US3384801060"/>
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      <invstOrSec>
        <name>J.P. Morgan</name>
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        <title>Recv Cyn Ln Trs:0035392</title>
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          <other otherDesc="INTERNAL IDENTIFIER" value="1290624_1"/>
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        <name>Abrdn Life Sciences Investors</name>
        <lei>5493007BYZPSOVVS0M04</lei>
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        <name>Invesco Trust For Investment Grade New York Municipals</name>
        <lei>FNS6N81D3V131ZZWNT79</lei>
        <title>Invesco Trust for Investment Grade New York Municipals</title>
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        <valUSD>434607.36000000</valUSD>
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        <invCountry>US</invCountry>
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        <name>The Options Clearing Corporation</name>
        <lei>549300CII6SLYGKNHA04</lei>
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          <ticker value="3EI99LJD"/>
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        <balance>342.00000000</balance>
        <units>NC</units>
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        <valUSD>129276.00000000</valUSD>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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        <name>Ishares Russell 2000 Etf</name>
        <lei>549300O80OAR5VTWR172</lei>
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      <invstOrSec>
        <name>J.P. Morgan</name>
        <lei>N/A</lei>
        <title>Recv Usa Ln Trs:bdfghw4</title>
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        <name>Hearts And Minds Investments Ltd/fund</name>
        <lei>2549002S6SA5DJZXRD63</lei>
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        <name>Bny Mellon Strategic Municipals Inc</name>
        <lei>549300FH0LKMOBY7N332</lei>
        <title>BNY Mellon Strategic Municipals, Inc.</title>
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        <name>Lazard Global Total Return And Income Fund Inc</name>
        <lei>MZRC4RJENF0LPRIWFB85</lei>
        <title>Lazard Global Total Return and Income Fund, Inc.</title>
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        <name>R.R. Donnelley &amp; Sons Company, TLB</name>
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        <balance>497491.49000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500212.77000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Tortoise Energy Infrastructure Corp</name>
        <lei>5493008P735YB22YPB89</lei>
        <title>Tortoise Energy Infrastructure Fund, Inc.</title>
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          <isin value="US89147L8862"/>
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        <balance>15834.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>458710.98000000</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>J.P. Morgan</name>
        <lei>N/A</lei>
        <title>Recv Rmmc Ln Trs:bndmjp1</title>
        <cusip>N/A</cusip>
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          <other otherDesc="INTERNAL IDENTIFIER" value="9036386_1"/>
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        <balance>1.00000000</balance>
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        <pctVal>0.022530833078</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>J.P. Morgan</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>River &amp; Mercantile UK Micro Cap Investment Company Ltd.</issuerName>
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                  <isin value="GG00BNDMJP11"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
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            <floatingPmntDesc curCd="GBP" fixedOrFloating="Floating" floatingRtIndex="SONIA" floatingRtSpread="0.40000000" pmntAmt="116.49188000">
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                <rtResetTenor rateTenor="Month" rateTenorUnit="1" resetDt="Month" resetDtUnit="1"/>
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            <upfrontPmnt>0.00000000</upfrontPmnt>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>GBP</rcptCurCd>
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            <unrealizedAppr>-788.29000000</unrealizedAppr>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMC Entertainment Holdings, Inc.</name>
        <lei>549300ZO77UNR6NRBR11</lei>
        <title>AMC Entertainment Holdings, Inc.</title>
        <cusip>00165CBA1</cusip>
        <identifiers>
          <isin value="US00165CBA18"/>
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        <balance>3110000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2005950.00000000</valUSD>
        <pctVal>0.822959474960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</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>The Options Clearing Corporation</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>Alibaba Group Holding, Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="2LI99I8M"/>
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        <balance>-4037.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-201850.00000000</valUSD>
        <pctVal>-0.08281082281</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>THE BANK OF NEW YORK MELLON CORPORATION</counterpartyName>
              <counterpartyLei>WFLLPEPC7FZXENRZV188</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>ALIBABA GROUP HLDG SPONSORED ADS</issuerName>
                <issueTitle>Alibaba Group Holding Ltd</issueTitle>
                <identifiers>
                  <cusip value="01609W102"/>
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            <shareNo>100.00000000</shareNo>
            <exercisePrice>90.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>12000.86000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Blackrock Science And Technology Term Trust</name>
        <lei>549300NQ3IL1NKVC9M67</lei>
        <title>BlackRock Science and Technology Term Trust</title>
        <cusip>09260K101</cusip>
        <identifiers>
          <isin value="US09260K1016"/>
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        <balance>146440.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2488015.60000000</valUSD>
        <pctVal>1.020731330227</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>
        <name>Dws Strategic Municipal Income Trust</name>
        <lei>HW9ZECORLBPA6LHYL567</lei>
        <title>DWS Strategic Municipal Income Trust</title>
        <cusip>23342Q101</cusip>
        <identifiers>
          <isin value="US23342Q1013"/>
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        <balance>15370.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>136639.30000000</valUSD>
        <pctVal>0.056057532135</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>J.P. Morgan</name>
        <lei>N/A</lei>
        <title>British American Tobacco PLC CDS 12/28 JPM</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL ID" value="BATS_D28"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92533000"/>
        <valUSD>77643.21000000</valUSD>
        <pctVal>0.031853842486</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>J.P. Morgan</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>British American Tobacco PLC</issuerName>
                <issueTitle>British American Tobacco PLC</issueTitle>
                <identifiers>
                  <isin value="XS0909359332"/>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="5972.21862000" curCd="EUR" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">Underlying Performance</otherPmntDesc>
            <terminationDt>2028-12-20</terminationDt>
            <upfrontPmnt>27704.21364100</upfrontPmnt>
            <pmntCurCd>EUR</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>EUR</rcptCurCd>
            <notionalAmt>-5000000.00000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>47703.39000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>J.P. Morgan</name>
        <lei>N/A</lei>
        <title>Herald Investment Trust PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL IDENTIFIER" value="186807_1"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78908000"/>
        <valUSD>2387998.58000000</valUSD>
        <pctVal>0.979698425984</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>J.P. Morgan</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Herald Investment Trust PLC</issuerName>
                <issueTitle>Herald Investment Trust PLC</issueTitle>
                <identifiers>
                  <isin value="GB0004228648"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Underlying Performance</otherRecDesc>
            <floatingPmntDesc curCd="GBP" fixedOrFloating="Floating" floatingRtIndex="SONIA" floatingRtSpread="0.40000000" pmntAmt="3594.62237700">
              <rtResetTenors>
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            <terminationDt>2024-10-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>GBP</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>GBP</rcptCurCd>
            <notionalAmt>1865269.12000000</notionalAmt>
            <curCd>GBP</curCd>
            <unrealizedAppr>24145.59000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Gamco Natural Resources Gold &amp; Income Trust</name>
        <lei>23EBEGZ81713Q1VCP222</lei>
        <title>GAMCO Natural Resources Gold &amp; Income Trust</title>
        <cusip>36465E101</cusip>
        <identifiers>
          <isin value="US36465E1010"/>
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        <balance>3582.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17730.90000000</valUSD>
        <pctVal>0.007274265138</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>
        <name>J.P. Morgan</name>
        <lei>N/A</lei>
        <title>MARKIT CDX HY S41 5Y 12/28 ICE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="HY411228"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-5362511.10000000</valUSD>
        <pctVal>-2.20001960134</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>J.P. Morgan</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>CDX.NA.HY Series 41</indexName>
                <indexIdentifier>2I65BRZP8</indexIdentifier>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Underlying Performance</otherRecDesc>
            <fixedPmntDesc amount="577734.02000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="5.00000000"/>
            <terminationDt>2028-12-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>5649476.27000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>96736860.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>286965.17000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Pioneer Municipal High Income Opportunities Fund Inc</name>
        <lei>5493005BKX8X756MKL25</lei>
        <title>Pioneer Municipal High Income Opportunities Fund, Inc.</title>
        <cusip>723760104</cusip>
        <identifiers>
          <isin value="US7237601049"/>
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        <balance>4798.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51386.58000000</valUSD>
        <pctVal>0.021081818039</pctVal>
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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>Nuveen Amt-free Quality Municipal Income Fund</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>57098.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>629790.94000000</valUSD>
        <pctVal>0.258377537484</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>
        <name>Alliancebernstein National Municipal Income Fund Inc</name>
        <lei>MNYPOOOZYY8V01GEIT28</lei>
        <title>AllianceBernstein National Municipal Income Fund, Inc.</title>
        <cusip>01864U106</cusip>
        <identifiers>
          <isin value="US01864U1060"/>
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        <balance>79712.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>864078.08000000</valUSD>
        <pctVal>0.354495995932</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>
        <name>Nuveen Arizona Quality Municipal Income Fund</name>
        <lei>549300DWXOLUWN2P0B05</lei>
        <title>Nuveen Arizona Quality Municipal Income Fund</title>
        <cusip>67061W104</cusip>
        <identifiers>
          <isin value="US67061W1045"/>
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        <balance>12018.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>130635.66000000</valUSD>
        <pctVal>0.053594483493</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>Platinum Asia Investments Ltd</name>
        <lei>549300836DYWB3XCP779</lei>
        <title>Platinum Asia Investments, Ltd.</title>
        <cusip>Q7663V106</cusip>
        <identifiers>
          <isin value="AU000000PAI4"/>
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        <balance>630200.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.52427000"/>
        <valUSD>328687.83000000</valUSD>
        <pctVal>0.134847211546</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Adams Diversified Equity Fund Inc</name>
        <lei>5493005W7G81BNPP7M23</lei>
        <title>Adams Diversified Equity Fund, Inc.</title>
        <cusip>006212104</cusip>
        <identifiers>
          <isin value="US0062121043"/>
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        <balance>96976.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1761084.16000000</valUSD>
        <pctVal>0.722501007340</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>
        <name>Calamos Long/short Equity &amp; Dynamic Income Trust</name>
        <lei>54930028TUOZZMUQBY94</lei>
        <title>Calamos Long/Short Equity &amp; Dynamic Income Trust</title>
        <cusip>12812C106</cusip>
        <identifiers>
          <isin value="US12812C1062"/>
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        <balance>51283.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>769245.00000000</valUSD>
        <pctVal>0.315589850851</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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      <invstOrSec>
        <name>Blackrock Enhanced International Dividend Trust</name>
        <lei>N8Y5YESYCLFDXNNUQV93</lei>
        <title>BlackRock Enhanced International Dividend Trust</title>
        <cusip>092524107</cusip>
        <identifiers>
          <isin value="US0925241079"/>
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        <balance>23807.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New America High Income Fund Inc/the</name>
        <lei>V5LSTDFQKWGSW30MQ381</lei>
        <title>New America High Income Fund, Inc.</title>
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          <isin value="US6418768007"/>
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        <balance>43258.00000000</balance>
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      <invstOrSec>
        <name>Nuveen Real Asset Income And Growth Fund</name>
        <lei>RQLXTE3CBG56EZF1BQ60</lei>
        <title>Nuveen Real Asset Income and Growth Fund</title>
        <cusip>67074Y105</cusip>
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      <invstOrSec>
        <name>Polestar Automotive Holding Uk Plc</name>
        <lei>894500HDA1DJKHYN4D83</lei>
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          <isin value="US7311052010"/>
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        <balance>275437.00000000</balance>
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        <valUSD>597698.29000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>Tortoise Pipeline &amp; Energy Fund Inc</name>
        <lei>549300L8CO08RZOP4B19</lei>
        <title>Tortoise Pipeline &amp; Energy Fund, Inc.</title>
        <cusip>89148H207</cusip>
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          <isin value="US89148H2076"/>
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        <balance>3607.00000000</balance>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>The Options Clearing Corporation</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>iShares Russell 2000 ETF</title>
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        <identifiers>
          <ticker value="2IV99TSL"/>
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        <balance>799.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>264469.00000000</valUSD>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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                <issuerName>ISHARES TRUST RUSSELL 2000 ETF</issuerName>
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            <shareNo>100.00000000</shareNo>
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            <unrealizedAppr>-73039.32000000</unrealizedAppr>
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      <invstOrSec>
        <name>The Options Clearing Corporation</name>
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          <ticker value="3EI99LCB"/>
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        <balance>1180.00000000</balance>
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        <curCd>USD</curCd>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>THE BANK OF NEW YORK MELLON CORPORATION</counterpartyName>
              <counterpartyLei>WFLLPEPC7FZXENRZV188</counterpartyLei>
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            <putOrCall>Call</putOrCall>
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                <issuerName>ISHARES TRUST RUSSELL 2000 ETF</issuerName>
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            <shareNo>100.00000000</shareNo>
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            <unrealizedAppr>-27316.45000000</unrealizedAppr>
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      <invstOrSec>
        <name>Nuveen California Quality Municipal Income Fund</name>
        <lei>549300ZT6V9X5U9BHR46</lei>
        <title>Nuveen California Quality Municipal Income Fund</title>
        <cusip>67066Y105</cusip>
        <identifiers>
          <isin value="US67066Y1055"/>
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        <balance>41372.00000000</balance>
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        <valUSD>456746.88000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Nuveen Pennsylvania Quality Municipal Income Fund</name>
        <lei>5493000C1CS4Q000GF67</lei>
        <title>Nuveen Pennsylvania Quality Municipal Income Fund</title>
        <cusip>670972108</cusip>
        <identifiers>
          <isin value="US6709721087"/>
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        <balance>83280.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>974376.00000000</valUSD>
        <pctVal>0.399746734152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
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      <invstOrSec>
        <name>Bny Mellon Municipal Income Inc</name>
        <lei>549300BKYDDROJTY1E24</lei>
        <title>BNY Mellon Municipal Income, Inc.</title>
        <cusip>05589T104</cusip>
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          <isin value="US05589T1043"/>
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        <balance>20133.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>131468.49000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Nuveen Missouri Quality Municipal Income Fund</name>
        <lei>549300D4075OL0O76470</lei>
        <title>Nuveen Missouri Quality Municipal Income Fund</title>
        <cusip>67060Q108</cusip>
        <identifiers>
          <isin value="US67060Q1085"/>
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        <balance>2044.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20746.60000000</valUSD>
        <pctVal>0.008511483857</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Blackrock Enhanced Global Dividend Trust</name>
        <lei>U48QD6ILUF60LKMSND68</lei>
        <title>BlackRock Enhanced Global Dividend Trust</title>
        <cusip>092501105</cusip>
        <identifiers>
          <isin value="US0925011050"/>
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        <balance>3737.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37257.89000000</valUSD>
        <pctVal>0.015285392752</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>J.P. Morgan</name>
        <lei>N/A</lei>
        <title>Recv Basc Ln Trs:0346340</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL IDENTIFIER" value="137671_1"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78908000"/>
        <valUSD>394647.25000000</valUSD>
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        <assetCat>DE</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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              <counterpartyName>J.P. Morgan</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
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              <otherRefInst>
                <issuerName>Brown Advisory US Smaller Companies PLC</issuerName>
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            <swapFlag>Y</swapFlag>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Contracts: AUD 02/08/2024</title>
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          <other otherDesc="INTERNAL ID" value="020824AUD00002291"/>
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              <counterpartyName>FXC
</counterpartyName>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>STONERIDGE OPPORTUNITIES FUND LLP</title>
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        <name>J.P. Morgan</name>
        <lei>N/A</lei>
        <title>Smithson Investment Trust PLC TRS</title>
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          <other otherDesc="INTERNAL IDENTIFIER" value="5114958_1"/>
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        <assetCat>DE</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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            <counterparties>
              <counterpartyName>J.P. Morgan</counterpartyName>
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                <issuerName>Smithson Investment Trust PLC</issuerName>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>J.P. Morgan</name>
        <lei>N/A</lei>
        <title>European Smaller Companies Trust PLC</title>
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        <valUSD>4278811.67000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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              <otherRefInst>
                <issuerName>European Smaller Companies/The</issuerName>
                <issueTitle>European Smaller Companies/The</issueTitle>
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            <swapFlag>Y</swapFlag>
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          <couponKind>Floating</couponKind>
          <annualizedRt>10.45500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>J.P. Morgan</name>
        <lei>N/A</lei>
        <title>Hipgnosis Songs Fund Ltd TRS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL IDENTIFIER" value="5743864_1"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78908000"/>
        <valUSD>1906033.62000000</valUSD>
        <pctVal>0.781967859204</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>J.P. Morgan</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Hipgnosis Songs Fund Ltd</issuerName>
                <issueTitle>Hipgnosis Songs Fund Ltd</issueTitle>
                <identifiers>
                  <isin value="GG00BFYT9H72"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Underlying Performance</otherRecDesc>
            <floatingPmntDesc curCd="GBP" fixedOrFloating="Floating" floatingRtIndex="SONIA" floatingRtSpread="0.40000000" pmntAmt="2480.53610600">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="1" resetDt="Month" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2025-01-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>GBP</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>GBP</rcptCurCd>
            <notionalAmt>1532349.49000000</notionalAmt>
            <curCd>GBP</curCd>
            <unrealizedAppr>-35910.78000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>J.P. Morgan</name>
        <lei>N/A</lei>
        <title>Recv Mct Ln Trs:b15pv03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL IDENTIFIER" value="2304676_1"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78908000"/>
        <valUSD>406872.55000000</valUSD>
        <pctVal>0.166923213501</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>J.P. Morgan</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Middlefield Canadian Income PLC</issuerName>
                <issueTitle>Middlefield Canadian Income PLC</issueTitle>
                <identifiers>
                  <isin value="GB00B15PV034"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Underlying Performance</otherRecDesc>
            <floatingPmntDesc curCd="GBP" fixedOrFloating="Floating" floatingRtIndex="SONIA" floatingRtSpread="0.40000000" pmntAmt="940.41765300">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="1" resetDt="Month" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2024-05-03</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>GBP</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>GBP</rcptCurCd>
            <notionalAmt>318665.00000000</notionalAmt>
            <curCd>GBP</curCd>
            <unrealizedAppr>3028.83000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Clear Channel Outdoor Holdings, Inc.</name>
        <lei>254900XBEE6V1ENYS150</lei>
        <title>Clear Channel Outdoor Holdings, Inc.</title>
        <cusip>18453HAC0</cusip>
        <identifiers>
          <isin value="US18453HAC07"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4337500.00000000</valUSD>
        <pctVal>1.779499350751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>J.P. Morgan</name>
        <lei>N/A</lei>
        <title>Edinburgh Worldwide Investment Trust PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL IDENTIFIER" value="186680_1"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78908000"/>
        <valUSD>766760.48000000</valUSD>
        <pctVal>0.314570553623</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>J.P. Morgan</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Edinburgh Worldwide Investment</issuerName>
                <issueTitle>Edinburgh Worldwide Investment</issueTitle>
                <identifiers>
                  <isin value="GB00BHSRZC82"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Underlying Performance</otherRecDesc>
            <floatingPmntDesc curCd="GBP" fixedOrFloating="Floating" floatingRtIndex="SONIA" floatingRtSpread="0.40000000" pmntAmt="1977.81323800">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="1" resetDt="Month" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2024-10-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>GBP</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>GBP</rcptCurCd>
            <notionalAmt>615593.02000000</notionalAmt>
            <curCd>GBP</curCd>
            <unrealizedAppr>-13379.71000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2024-03-01</ncom:dateSigned>
      <ncom:nameOfApplicant>Saba Capital Income &amp; Opportunities Fund II</ncom:nameOfApplicant>
      <ncom:signature>Troy Statczar</ncom:signature>
      <ncom:signerName>Troy Statczar</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
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</DOCUMENT>
<DOCUMENT>
<TYPE>NPORT-EX
<SEQUENCE>2
<FILENAME>fp0087741-1_nportex.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="text-align: left; font: 14pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 14pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">Saba Capital Income &amp; Opportunities Fund II</FONT></TD>
    <TD STYLE="font: 14pt Times New Roman, Times, Serif; width: 50%; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">Consolidated Schedule of Investments</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">January
    31, 2024</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Principal
    Amount</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Fair
    Value</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><B>CORPORATE BONDS - <FONT STYLE="letter-spacing: -0.2pt">6.78%</FONT></B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 11pt">Communications - 4.85%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 70%; text-align: left"><FONT STYLE="font-size: 11pt">AMC Entertainment Holdings Inc, 7.50%, 02/15/2029</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-size: 11pt">3,110,000</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-size: 11pt">2,005,950</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">Clear Channel Outdoor Holdings Inc, 7.75%, 04/15/2028</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">5,000,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">4,337,500</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">CommScope Inc, 8.25%, 03/01/2027</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">1,079,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">512,525</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">Level 3 Financing Inc, 10.50%, 05/15/2030</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">5,000,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">4,975,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">11,830,975</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">Consumer, Non-cyclical - 1.90%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">Community Health Systems Inc, 5.625%, 03/15/2027</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">5,000,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">4,625,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">4,625,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">Real Estate - 0.02%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">China Evergrande Group, 8.750%, <FONT STYLE="letter-spacing: -0.1pt">06/28/2025<SUP>(b)(d)</SUP></FONT></FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">5,000,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">56,250</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">56,250</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">TOTAL CORPORATE BONDS</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">16,512,225</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 11pt">(Cost $16,550,577)</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Principal
    Amount</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Fair
    Value</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 11pt">SENIOR LOANS - 3.23%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 11pt">Consumer Discretionary - 1.34%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 70%; text-align: left"><FONT STYLE="font-size: 11pt">R.R. Donnelley &amp; Sons Company, First Lien Term B Loan,
    TSR1M + 7.250%, <FONT STYLE="letter-spacing: -0.1pt">03/17/2028<SUP>(a)</SUP></FONT></FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-size: 11pt">497,491</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-size: 11pt">500,213</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">ClubCorp Holdings Inc, Term Loan, 1M SOFR + 5%, 09/18/2026</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">2,799,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">2,769,610</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">3,269,823</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">Consumer, Non-cyclical - 1.28%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">Revlon Intermediate Holdings IV LLC, Term Loan, 1M
    SOFR + 6.875%, 05/02/2028</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">3,111,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">3,126,555</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">Industrials - 0.61%</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">Moran Foods 1st Lien A&amp;R 2023 FLSO PIK Term Loan,
    TSFR3M + 7.250%, 12/31/2026</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">1,555,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">1,480,251</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">1,480,251</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">TOTAL SENIOR LOANS</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">7,876,629</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 11pt">(Cost $7,879,738)</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Principal
    Amount</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Fair
    Value</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 11pt">MORTGAGE-BACKED SECURITIES - 0.54%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 11pt">Federal National Mortgage Association (FNMA) - 0.54%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 70%; text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">FNMA, 3.000%, 05/25/2051</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">6,992,530</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">1,315,017</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">TOTAL MORTGAGE-BACKED
    SECURITIES</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">1,315,017</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-size: 11pt">(Cost $1,309,126)</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
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    <TD STYLE="width: 90%; border-top: Black 1pt solid"><FONT STYLE="font-size: 11pt">Annual Report | January 31, 2024</FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 9pt">19</FONT></TD></TR>
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    <TD STYLE="border-bottom: black 1pt solid; font: 14pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">Saba Capital Income &amp; Opportunities Fund II</FONT></TD>
    <TD STYLE="font: 14pt Times New Roman, Times, Serif; width: 50%; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">Consolidated Schedule of Investments</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">January
    31, 2024</FONT></TD></TR>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: -10pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">Shares</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">Fair
    Value</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: -10pt; font-weight: bold"><FONT STYLE="font-size: 11pt">COMMON STOCK - 1.48%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: -10pt; font-weight: bold"><FONT STYLE="font-size: 11pt">Communication Services - 1.23%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 70%; text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt">Arbe
    Robotics, Ltd.<SUP>(e)</SUP></FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">371,004</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">3,005,132</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: -10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">3,005,132</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Consumer Discretionary - 0.25%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Polestar Automotive Holding UK
    PLC</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">275,437</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">597,698</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-left: -10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">597,698</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt"><B>Consumer Staples - <FONT STYLE="letter-spacing: -0.1pt">0.00%<SUP>(c)</SUP></FONT></B></FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt">Moran
    Foods LLC<SUP>(f)</SUP></FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">3,699,885</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: -10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-left: -10pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">TOTAL COMMON
    STOCK</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">3,602,830</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-size: 11pt">(Cost $3,717,004)</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  </TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: -10pt; border-bottom: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Shares</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Fair
    Value</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: -10pt; font-weight: bold"><FONT STYLE="font-size: 11pt">CLOSED END FUNDS - 12.38%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: -10pt; font-weight: bold"><FONT STYLE="font-size: 11pt">Alternative - 1.30%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 70%; text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Blackrock ESG Capital Allocation Trust</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-size: 11pt">121,074</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-size: 11pt">1,985,614</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Platinum Asia Investments Ltd</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">2,272,361</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">1,185,175</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-left: -10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">3,170,789</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="font-weight: bold; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Equity - 7.68%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Aberdeen Global Dynamic Dividend Fund</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">14,535</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">133,867</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">abrdn Standard Global Infrastructure Income Fund</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">50,927</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">883,583</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">abrdn Standard Global Infrastructure Income Fund</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">16,258</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">128,763</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Adams Diversified Equity Fund, Inc.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">96,976</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">1,761,084</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Adams Natural Resources Fund Inc.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">37,130</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">760,051</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">BlackRock Enhanced Global Dividend Trust</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">3,737</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">37,258</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">BlackRock Enhanced International Dividend Trust</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">23,807</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">125,701</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">BlackRock Resources &amp; Commodities Strategy Trust</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">17,497</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">149,074</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">BlackRock Science &amp; Technology Trust II</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">146,440</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">2,488,016</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Gabelli Dividend &amp; Income Trust</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">59,672</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">1,282,948</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Gabelli Healthcare &amp; WellnessRx Trust</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">23,912</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">226,447</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">GAMCO Natural Resources Gold &amp; Income Trust</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">3,582</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">17,731</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">iShares Russell 2000 ETF</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">4,565</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">880,497</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Lazard Global Total Return and Income Fund Inc</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">5,169</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">79,344</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">MainStay CBRE Global Infrastructure Megatrends Term
    Fund</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">60,263</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">779,201</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Platinum Capital, Ltd.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">80,386</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">68,295</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Nuveen Real Asset Income and Growth Fund</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">50,741</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">594,177</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt">Tekla Healthcare Investors<SUP>(e)</SUP></FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">68,181</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">1,167,941</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt">Tekla Life Sciences Investors<SUP>(e)</SUP></FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">128,601</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">1,764,406</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Tortoise Energy Infrastructure Fund, Inc.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">15,834</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">458,711</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Tortoise Midstream Energy Fund, Inc.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">21,652</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">753,057</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Tortoise Pipeline &amp; Energy Fund, Inc.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">3,607</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">103,809</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Tortoise Energy Independence Fund, Inc.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">17,699</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">510,908</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">WAM Global Ltd</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">617,825</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">818,757</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Hearts and Minds Investments, Ltd.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">1,524,301</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">2,630,053</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Pengana International Equities,
    Ltd.</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">168,532</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">123,834</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: -10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">18,727,513</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  </TABLE>

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    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 9pt">20</FONT></TD></TR>
  </TABLE>
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    <TD STYLE="border-bottom: black 1pt solid; font: 14pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">Saba Capital Income &amp; Opportunities Fund II</FONT></TD>
    <TD STYLE="font: 14pt Times New Roman, Times, Serif; width: 50%; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">Consolidated Schedule of Investments</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">January
    31, 2024</FONT></TD></TR>
  </TABLE><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-size: 11pt">Shares</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Fair
    Value</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 11pt">Fixed Income - 3.08%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 70%; text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">AllianceBernstein National Municipal Income
    Fund</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-size: 11pt">79,712</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-size: 11pt">864,078</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">BNY Mellon Municipal Income, Inc.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">20,133</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">131,468</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">BNY Mellon Strategic Municipals Inc.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">40,417</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">239,673</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">BlackRock New York Municipal Income Trust</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">26,865</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">283,157</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">BlackRock MuniHoldings New York Quality Fund, Inc.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">1,007</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">10,684</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">BNY Mellon Strategic Municipal Bond Fund, Inc.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">7,596</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">43,221</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">DWS Strategic Municipal Income Trust</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">15,370</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">136,639</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Eaton Vance New York Municipal Bond Fund</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">19,040</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">186,402</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Ellsworth Growth and Income Fund, Ltd.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">5,295</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">41,883</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Ellsworth Growth and Income Fund, Ltd.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">1,643</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">17,301</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Invesco Trust for Investment Grade New York Municipals</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">41,156</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">434,607</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Invesco Pennsylvania Value Municipal Income Trust</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">28,614</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">289,574</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Invesco Quality Municipal Income Trust</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">17</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">162</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">New America High Income Fund, Inc.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">43,258</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">317,081</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Nuveen Massachusetts Quality Municipal Income Fund</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">15,761</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">168,012</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Nuveen Missouri Quality Municipal Income Fund</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">2,044</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">20,747</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Nuveen Arizona Quality Municipal Income Fund</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">12,018</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">130,636</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Nuveen AMT-Free Quality Municipal Income Fund</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">57,098</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">629,791</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Nuveen California Quality Municipal Income Fund</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">41,372</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">456,747</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Nuveen New Jersey Quality Municipal Income Fund</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">43,385</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">518,451</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Nuveen Variable Rate Preferred and Income Fund</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">78,075</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">1,346,794</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Nuveen Pennsylvania Quality Municipal Income Fund</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">83,280</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">974,376</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Pioneer Municipal High Income Opportunities Fund, Inc.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">4,798</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">51,387</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Pioneer Municipal High Income Advantage Fund, Inc.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">326</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">2,588</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Pioneer Municipal High Income
    Fund, Inc.</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">24,447</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">210,733</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: -10pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">7,506,192</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Mixed Allocation - 0.32%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Calamos Long/Short Equity &amp;
    Dynamic Income Trust</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">51,283</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">769,245</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; padding-left: -10pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">769,245</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: -10pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">TOTAL CLOSED
    END FUNDS</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">30,173,739</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-size: 11pt">(Cost $29,928,644)</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Fair
    Value</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 11pt">PRIVATE FUND - 9.85%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 85%; text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Stone Ridge Opportunities
    Fund Feeder <FONT STYLE="letter-spacing: -0.2pt">LP<SUP>(e)</SUP></FONT></FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">24,000,000</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">TOTAL PRIVATE FUND</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">24,000,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-size: 11pt">(Cost $24,000,000)</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Contracts</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Fair
    Value</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 11pt">OPTIONS - 1.02%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 11pt">Call Option Contracts - 1.02%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 70%; text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Alibaba Group Holding Ltd, Expires 03/15/24,
    Strike Pirce $75.00</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-size: 11pt">4,037</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-size: 11pt">1,271,655</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">iShares Russell 2000 ETF, Expires 04/19/24, Strike
    Price $2.02</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">159</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">68,688</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">iShares Russell 2000 ETF, Expires 04/19/24, Strike
    Price $2.03</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">1,180</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">472,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">iShares Russell 2000 ETF, Expires 04/19/24, Strike
    Price $2.04</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">342</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">129,276</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">iShares Russell 2000 ETF, Expires 04/19/24, Strike
    Price $2.05</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">799</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">264,469</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">iShares Russell 2000 ETF, Expires 04/19/24, Strike
    Price $2.06</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">300</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">91,800</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">iShares Russell 2000 ETF, Expires
    04/19/24, Strike Price $2.08</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">40</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">178,160</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: -10pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">TOTAL OPTIONS</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">2,476,048</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">(Premiums paid $2,420,930)</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  </TABLE>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 90%; border-top: Black 1pt solid"><FONT STYLE="font-size: 11pt">Annual Report | January 31, 2024</FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 9pt">21</FONT></TD></TR>
  </TABLE>
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    <TD STYLE="border-bottom: black 1pt solid; font: 14pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">Saba Capital Income &amp; Opportunities Fund II</FONT></TD>
    <TD STYLE="font: 14pt Times New Roman, Times, Serif; width: 50%; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">Consolidated Schedule of Investments</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">January
    31, 2024</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: -10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">Shares</FONT></TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">Fair
    Value</FONT></TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: -10pt; font-weight: bold"><FONT STYLE="font-size: 11pt">SHORT TERM INVESTMENTS - 61.79%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 70%; text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">JPMorgan US Treasury
    Plus Money Market Fund, 7 Day Yield 5.19%</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">150,593,502</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">150,593,502</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: -10pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">TOTAL SHORT
    TERM INVESTMENTS</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">150,593,502</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-size: 11pt">(Cost $150,593,502)</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Total Investments in securities
    - 97.06%</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">236,549,990</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: -10pt; text-align: left"><FONT STYLE="font-size: 11pt">(Cost $236,399,521)</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-left: -10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">Other Assets in Excess of Liabilities
    - 2.94%</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">7,155,671</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">NET ASSETS
    - 100.00%</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">243,705,661</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><I>Amounts above are shown as a percentage
of net assets as of January 31, 2024.</I></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><B>SCHEDULE OF SECURITIES SOLD SHORT</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: -10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">Contracts</FONT></TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">Fair
    Value</FONT></TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: -10pt; font-weight: bold"><FONT STYLE="font-size: 11pt">OPTIONS - (0.08%)</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Call Option Contracts - (0.08%)</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 70%; text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Alibaba Group Holding
    Ltd, Expires 03/15/24, Strike Pirce $90.00</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">(4,037</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">(201,850</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: -10pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">TOTAL OPTIONS</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">(201,850</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">(Premiumns paid $213,851)</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">Total Securities Sold Short -
    (0.08%)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 11pt">(201,850</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 11pt">(Premiumns paid $213,851)</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.2pt"><I><SUP>(a)</SUP></I></FONT></TD><TD><FONT STYLE="font-size: 11pt"><I>Security
                                            exempt from registration under Rule 144A of the Securities Act of 1933 (the &quot;Securities
                                            Act&quot;). Total market value of Rule 144A securities amounts to $500,213, which represented
                                            approximately 0.21% of net assets as of January 31, 2024. Such securities may normally be
                                            sold to qualified institutional buyers in transactions exempt from registration.</I></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.25pt"><I><SUP>(b)</SUP></I></FONT></TD><TD><FONT STYLE="font-size: 11pt"><I>Security
                                            is in default as of year-end and is therefore non-income <FONT STYLE="letter-spacing: -0.1pt">producing.</FONT></I></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.25pt"><I><SUP>(c)</SUP></I></FONT></TD><TD><FONT STYLE="font-size: 11pt"><I>Amount
                                            represents less than 0.005% of net <FONT STYLE="letter-spacing: -0.1pt">assets.</FONT></I></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.2pt"><I><SUP>(d)</SUP></I></FONT></TD><TD><FONT STYLE="font-size: 11pt"><I>Securities
                                            were originally issued pursuant to Regulation S under the Securities Act of 1933, which exempts
                                            securities offered and sold outside of the United States from registration. Such securities
                                            cannot be sold in the United States without either an effective registration statement filed
                                            pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. As
                                            of January 31, 2024, the aggregate market value of those securities was $56,250, which represents
                                            approximately 0.02% of net assets.</I></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.25pt"><I><SUP>(e)</SUP></I></FONT></TD><TD><FONT STYLE="font-size: 11pt"><I>Non-income
                                            producing <FONT STYLE="letter-spacing: -0.1pt">security.</FONT></I></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.25pt"><I><SUP>(f)</SUP></I></FONT></TD><TD><FONT STYLE="font-size: 11pt"><I>On
                                            January 31, 2024 the value of these investments amounted to $0, representing 0.0% of the
                                            net assets of the <FONT STYLE="letter-spacing: -0.1pt">Fund.</FONT></I></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><B>Investment <FONT STYLE="letter-spacing: -0.1pt">Abbreviations:</FONT></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">ESTRON - Euro Short-Term Rate</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">LIBOR - London Interbank Offered Rate</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">OBFR - United States Overnight Bank Funding
Rate</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">RBACOR - RBA Interbank Overnight Cash Rate</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">SOFR - Secured Overnight Financing Rate</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">SONIA - Sterling Over Night Index <FONT STYLE="letter-spacing: -0.1pt">Average</FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><B>Reference <FONT STYLE="letter-spacing: -0.1pt">Rates:</FONT></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">ESTRON - Euro Short-Term Rate as of January
31, 2024 was <FONT STYLE="letter-spacing: -0.2pt">3.89%</FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">OBFR - United States Overnight Bank Funding
Rate as of January 31, 2024 was 5.32%</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">RBACOR - RBA Interbank Overnight Cash Rate
as of January 31, 2024 was 4.32%</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">SOFR - Secured Overnight Financing Rate
as of January 31, 2024 was 5.32%</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-top: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">22</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="text-align: left; font: 14pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 14pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">Saba Capital Income &amp; Opportunities Fund II</FONT></TD>
    <TD STYLE="font: 14pt Times New Roman, Times, Serif; width: 50%; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">Consolidated Schedule of Investments</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">January
    31, 2024</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">TSFR1M - CME Term SOFR 1 Month as of January
31, 2024 was 5.33%.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">TSFR3M - CME Term SOFR 3 Month as of January
31, 2024 was 5.32%</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">SONIA- Sterling Overnight Index Average
as of January 31, 2024 was 5.20%</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">PRIME - US Prime Rate as of January 31,
2024 was 8.5%</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 6.6pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><B>Counterparty <FONT STYLE="letter-spacing: -0.1pt">Abbreviations:</FONT></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">JPM - JPMorgan Chase Bank, <FONT STYLE="letter-spacing: -0.2pt">N.A.</FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">GSI - Goldman Sachs <FONT STYLE="letter-spacing: -0.1pt">International</FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">MSCS - Morgan Stanley Capital Services</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">BARC
- Barclays Bank PLC</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">MSCO &ndash; Morgan Stanley &amp; <FONT STYLE="letter-spacing: -0.1pt">Company</FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>FORWARD FOREIGN
CURRENCY CONTRACTS</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-weight: bold"><FONT STYLE="font-size: 11pt">Counterparty</FONT></TD><TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Settlement</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.2pt"><B>Date</B></FONT></P></TD><TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 6.95pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.2pt"><B>Fund</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 6.95pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Receiving</B></FONT></P></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Value</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.2pt"><B>Fund</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Delivering</B></FONT></P></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Cost</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Unrealized</B></FONT></P> <P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Appreciation</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 10%; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 14%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">2/8/2024</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 14%; text-align: center; padding-bottom: 1pt; padding-left: 6.95pt"><FONT STYLE="font-size: 11pt">USD</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="padding-bottom: 1pt; width: 12%; text-align: right"><FONT STYLE="font-size: 11pt">5,312,109</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 14%; text-align: center; padding-bottom: 1pt; padding-left: 10.6pt"><FONT STYLE="font-size: 11pt">AUD</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="padding-bottom: 1pt; width: 12%; text-align: right"><FONT STYLE="font-size: 11pt">5,282,227</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: left; width: 1%"><FONT STYLE="font-size: 11pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 14%; text-align: right; padding-left: 4.1pt">29,883</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-left: 4.1pt">29,883</TD></TR>
  </TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>FORWARD FOREIGN
CURRENCY CONTRACTS</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left; font-weight: bold"><FONT STYLE="font-size: 11pt">Counterparty</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Settlement</B></FONT></P> <P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Date</B></FONT></P></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Fund</B></FONT></P> <P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Receiving</B></FONT></P></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Value</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Fund</B></FONT></P> <P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Delivering</B></FONT></P></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Cost</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Unrealized</B></FONT></P> <P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Depreciation</B></FONT></P></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">2/8/2024</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 11pt">AUD</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">1,968,155</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 11pt">USD</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">1,978,710</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">(10,555</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 11pt">(10,555</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; text-align: left; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right; width: 5%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; width: 2%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 16%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right; width: 14%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right; width: 12%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right; width: 12%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right; width: 12%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 1%"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; width: 12%"><FONT STYLE="font-size: 11pt">19,327</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><B>FUTURES <FONT STYLE="letter-spacing: -0.1pt">CONTRACTS</FONT></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 8.35pt"><FONT STYLE="font-size: 11pt"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-weight: bold"><FONT STYLE="font-size: 11pt">Description</FONT></TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Number
                                            of</B></FONT></P> <P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Contracts</B></FONT></P></TD><TD STYLE="text-align: center; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-weight: bold; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt">Maturity</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt">Date</FONT></P></TD><TD STYLE="text-align: center; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-weight: bold; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt">Notional</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt">Amount</FONT></P></TD><TD STYLE="text-align: center; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-weight: bold; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt">Unrealized</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt">Appreciation/</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt">(Depreciation)</FONT></P></TD><TD STYLE="text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 11pt">Short Position Contracts</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 40%; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">E-Mini Russ 2000 Mar24</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 14%; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">(18)</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 14%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">3/15/2024</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 14%; text-align: right; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">1,763,922</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">(3,612</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 11pt">(3,612</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">(3,612</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><B>INDEX CREDIT DEFAULT SWAP CONTRACTS (CENTRALLY
<FONT STYLE="letter-spacing: -0.1pt">CLEARED)</FONT></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt"><B>Buy/Sell <BR>
    Protection<SUP>(a)</SUP></B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Reference
    Obligations</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Annual</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Payment</B></FONT></P>
                                                                                                                                                                                                                                               <P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Rate</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Received
                                            (Paid)</B></FONT></P></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Currency</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Maturity <BR>
    Date</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Notional</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Amount<SUP>(b)</SUP></B></FONT></P></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">Value</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt">Upfront</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt">Premiums</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt">Received/(Paid)</FONT></P></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt">Unrealized</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt">Appreciation/</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt">(Depreciation)</FONT></P></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">Buy</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 14%; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">Markit CDX High Yield Index, Series 41</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">(5.00</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">)%</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 11pt">USD</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 14%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">12/20/2028</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">83,569,860</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 12%; text-align: right"><FONT STYLE="font-size: 11pt">(5,210,346</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 12%; text-align: right"><FONT STYLE="font-size: 11pt">4,870,980</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 12%; text-align: right"><FONT STYLE="font-size: 11pt">(339,366</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">(5,210,346</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">4,870,980</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">(339,366</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 90%; border-top: Black 1pt solid"><FONT STYLE="font-size: 11pt">Annual Report | January 31, 2024</FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 9pt">23</FONT></TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

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  <TR STYLE="text-align: left; font: 14pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 14pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">Saba Capital Income &amp; Opportunities Fund II</FONT></TD>
    <TD STYLE="font: 14pt Times New Roman, Times, Serif; width: 50%; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">Consolidated Schedule of Investments</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">January
    31, 2024</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;</FONT></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><B>SINGLE NAME CREDIT DEFAULT SWAP CONTRACTS
(OVER THE <FONT STYLE="letter-spacing: -0.1pt">COUNTER)</FONT></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Buy/Sell</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Protection<SUP>(a)</SUP></B></FONT></P></TD><TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-size: 11pt">Reference
    Obligations</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Annual</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Payment</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.2pt"><B>Rate</B></FONT></P> <P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Received</B></FONT></P> <P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>(Paid)</B></FONT></P></TD><TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center"><FONT STYLE="font-size: 11pt">Currency</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Maturity</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.2pt"><B>Date</B></FONT></P></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Notional</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Amount<SUP>(b)</SUP></B></FONT></P></TD><TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">Value</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Upfront</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Premiums</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Received/(Paid)</B></FONT></P></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Unrealized</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Appreciation/</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>(Depreciation)</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">Sell</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">British American Tobacco p.l.c.</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 11pt">1.00%</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">EUR</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">12/20/2028</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 11pt">5,000,000</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 11pt">$84,097</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 11pt">$(29,940)</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 11pt">$54,157</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 0.55pt"><FONT STYLE="font-size: 11pt">Buy</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 12%; text-align: center; padding-left: 0.25pt"><FONT STYLE="font-size: 11pt">CommScope, Inc.</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 11pt">5.00%</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 10%"><FONT STYLE="font-size: 11pt; letter-spacing: -0.25pt">USD</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 12%; text-align: center; padding-left: 0.6pt"><FONT STYLE="font-size: 11pt">6/20/2027</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 11pt">1,079,000</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 10%; text-align: right"><FONT STYLE="font-size: 11pt">475,549</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 10%; text-align: right"><FONT STYLE="font-size: 11pt">(453,180</FONT>)</TD><TD STYLE="border-bottom: Black 1pt solid; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 10%; text-align: right"><FONT STYLE="font-size: 11pt">22,369</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">559,646</FONT></TD><TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">(483,120</FONT>)</TD><TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">76,526</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 20pt; text-indent: -20pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.2pt"><I><SUP>&nbsp;</SUP></I></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.2pt"><I><SUP>(a)</SUP></I></FONT></TD><TD><FONT STYLE="font-size: 11pt"><I>If
                                            the Fund is a seller of protection and a credit event occurs, as defined under the terms
                                            of that particular swap agreement, the Fund will either (i) pay to the buyer of protection
                                            an amount equal to the notional amount of the swap and take delivery of the referenced obligation
                                            or underlying securities comprising the referenced index or (ii) pay a net settlement amount
                                            in the form of cash or securities equal to the notional amount of the swap less the recovery
                                            value of the referenced obligation or underlying securities comprising the referenced index.</I></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.2pt"><I><SUP>(b)</SUP></I></FONT></TD><TD><FONT STYLE="font-size: 11pt"><I>The
                                            maximum potential amount the Fund could be required to pay as a seller of credit protection
                                            or receive as a buyer of credit protection if a credit event occurs as defined under the
                                            terms of that particular swap agreement. Notional amounts are presented in the currency indicated
                                            in the table.</I></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 24.6pt; text-indent: -18.05pt"><FONT STYLE="font-size: 11pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><B>TOTAL RETURN SWAP <FONT STYLE="letter-spacing: -0.1pt">CONTRACTS<SUP>(a)</SUP></FONT></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">Counterparty</FONT></TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">Reference Obligations</FONT></TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">Currency</FONT></TD><TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Notional</B></FONT></P> <P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Amount<SUP>(b)</SUP></B></FONT></P></TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Termination</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt; letter-spacing: -0.2pt"><B>Date</B></FONT></P></TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Financing</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>Rate
                                            <FONT STYLE="letter-spacing: -0.1pt">Index</FONT></B></FONT></P></TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Financing
                                            </B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 11pt"><B>Rate
                                            <FONT STYLE="letter-spacing: -0.1pt">Spread</FONT></B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Paid/(Received)</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>by
                                            <FONT STYLE="letter-spacing: -0.2pt">Fund</FONT></B></FONT></P></TD><TD STYLE="text-align: center; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: center; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">Value</FONT></TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Unrealized
                                            </B></FONT></P> <P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>Appreciation/</B></FONT></P> <P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt; letter-spacing: -0.1pt"><B>(Depreciation)</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: center; width: 9%"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 14%; text-align: left"><FONT STYLE="font-size: 11pt">Aberdeen Diversified Income and Growth Trust</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 9%"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 11pt">1,625,997</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 9%"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 9%"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 9%"><FONT STYLE="font-size: 11pt">40 bps</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 11pt">1,633,999</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 11pt">8,002</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">Abrdn UK Smaller Cos Growth Trust PLC</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">74,218</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">40 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">74,002</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">(216</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">Baillie Gifford US Growth Trust PLC</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">8,560,691</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">40 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">8,581,497</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">20,806</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">Bellevue Healthcare Trust PLC</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">3,341,026</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">35 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">3,363,300</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">22,274</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">Brown Advisory US Smaller Companies PLC</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">691,210</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">40 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">696,593</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">5,383</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">CQS Natural Resources Growth and Income PLC</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">599,537</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">40 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">599,456</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">(81</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">Edinburgh Worldwide Investment Trust PLC</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">780,140</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">40 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">766,760</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">(13,380</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">European Opportunities Trust PLC</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">2,863,158</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">35 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">2,824,026</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">(39,132</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">European Smaller Companies</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">4,265,398</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">40 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">4,278,812</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">13,414</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">The Global Smaller Companies Trust PLC</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">17,115</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">35 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">17,161</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">46</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">Henderson Opportunities Trust PLC</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">277,159</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">40 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">276,327</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">(832</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">Herald Investment Trust PLC</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">2,363,853</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">40 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">2,387,999</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">24,146</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">Hipgnosis Songs Fund Ltd</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">1,941,944</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">40 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">1,906,034</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">(35,910</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">Middlefield Canadian Income PC</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">403,844</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">40 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">406,873</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">3,029</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">Montanaro European Smaller Companies Trust PLC</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">14,224</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">35 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">14,355</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">131</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">River &amp; Mercantile UK Micro Cap Inv Co Ltd</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">55,707</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">40 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">54,919</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">(788</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">JPM</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">Smithson Investment Trust PLC</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">526,888</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">10/31/2024</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">SONIA</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">35 bps</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">528,775</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">1,887</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">28,410,888</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 11pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">8,779</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><I>All Reference Obligations shown above
for Total Return Swap Contracts are closed end funds and common <FONT STYLE="letter-spacing: -0.1pt">stock.</FONT></I></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><I>&nbsp;</I></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 20pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.2pt"><I><SUP>(a)</SUP></I></FONT></TD><TD><FONT STYLE="font-size: 11pt"><I>The
                                            Fund receives monthly payments based on any positive monthly return of the Reference Obligation.
                                            The Fund makes payments on any negative monthly return of such Reference Obligation</I></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt"><FONT STYLE="font-size: 11pt; letter-spacing: -0.25pt"><I><SUP>(b)</SUP></I></FONT></TD><TD><FONT STYLE="font-size: 11pt"><I>Notional
                                            amounts are presented in USD <FONT STYLE="letter-spacing: -0.1pt">equivalent.</FONT></I></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 20pt; text-indent: -20pt"><FONT STYLE="font-size: 11pt"><I>&nbsp;</I></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; width: 100%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">24</FONT></TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 20pt; text-indent: -20pt"><FONT STYLE="font-size: 11pt"></FONT></P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom; width: 50%"><P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 14pt; font-style: normal; font-weight: normal">Saba
                                            Capital <FONT STYLE="letter-spacing: -0.1pt">Income </FONT>&amp; Opportunities <FONT STYLE="letter-spacing: -0.2pt">Fund</FONT></FONT></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 50%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt; font-style: normal; font-weight: normal">Notes
    to Consolidated Financial <FONT STYLE="letter-spacing: -0.1pt">Statements</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">January 31, <FONT STYLE="letter-spacing: -0.2pt">2024</FONT></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">The following table summarizes the valuation
of the Fund&rsquo;s financial instruments in accordance with the above fair value hierarchy levels as of January 31, 2024. Refer to the
portfolio of investments for additional details.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">Investments in Securities at fair value</TD><TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1 - Quoted Prices</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2 - Significant<BR> Observable Inputs</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3 - Significant<BR> Unobservable Inputs</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 40%; text-align: left; padding-left: 0pt">Corporate Bonds</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">16,512,225</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">16,512,225</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt">Senior Loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,876,629</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,876,629</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt">Mortgage-Backed Securities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,315,017</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,315,017</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt">Common Stock</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,602,830</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,602,830</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; padding-left: 0pt">Closed End Funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,173,739</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,173,739</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0pt">Private Fund*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-left: 0pt">Options</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,476,048</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,476,048</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-left: 0pt">Short Term Investments</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">150,593,502</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">150,593,502</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="border-bottom: Black 2.5pt double; padding-left: 0pt">Total</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">186,846,119</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">25,703,871</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">236,549,990</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD></TR>
  </TABLE>



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Securities sold short, at fair value</TD><TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1 - Quoted Prices</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2 -
    Significant <BR> Observable Inputs</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3 - Significant<BR> Unobservable Inputs</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; padding-left: 0pt">Options</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">201,850</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">201,850</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 2.5pt double; padding-left: 0pt">Total</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD></TR>
  </TABLE>



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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Derivative contracts, at fair value</TD><TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1 - Quoted Prices</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2 - Significant <BR>Observable Inputs</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3 - Significant<BR> Unobservable Inputs</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 40%; font-weight: bold; text-align: left">Forward Foreign Currency Contracts</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">29,883</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">29,883</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Over the Counter Credit Default Swaps</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">559,646</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">559,646</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">Total Return Swaps</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">99,118</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">99,118</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">Total Assets</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">688,647</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">688,647</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left">Forward foreign currency contracts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10,555</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10,555</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Futures Contracts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,612</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,612</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left">Centrally Cleared Credit Default Swaps</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,210,346</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,210,346</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">Total Return Swaps</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">90,339</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">90,339</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">Total Assets</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,612</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">5,311,240</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">5,314,852</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD></TR>
  </TABLE>



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<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt"><FONT STYLE="font-size: 11pt"><I>*</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><I>In
                                            accordance with ASC 820-10, investments that are measured at fair value using the NAV per
                                            share (or its equivalent) practical expedient have not been classified in the fair value
                                            hierarchy. The fair value amounts presented in this table are intended to permit reconciliation
                                            of the fair value hierarchy to the amounts presented in the Consolidated Schedule of Investments
                                            and Consolidated Statement of Assets and Liabilities.</I></FONT></TD></TR></TABLE>

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