<SEC-DOCUMENT>0001145549-25-026529.txt : 20250513
<SEC-HEADER>0001145549-25-026529.hdr.sgml : 20250513
<ACCEPTANCE-DATETIME>20250425150440
ACCESSION NUMBER:		0001145549-25-026529
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250228
FILED AS OF DATE:		20250425
DATE AS OF CHANGE:		20250425
PERIOD START:           	20250831

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HIGH INCOME SECURITIES FUND
		CENTRAL INDEX KEY:			0000810943
		ORGANIZATION NAME:           	
		EIN:				046562068
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05133
		FILM NUMBER:		25873131

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQ
		STREET 2:		MAILSTOP A 14
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		414-765-6318

	MAIL ADDRESS:	
		STREET 1:		US BANCORP FUND SERVICES LLC
		STREET 2:		615 EAST MICHIGAN STREET
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUTNAM HIGH INCOME SECURITIES FUND
		DATE OF NAME CHANGE:	20050930

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUTNAM HIGH INCOME BOND FUND
		DATE OF NAME CHANGE:	20030408

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUTNAM HIGH BOND FUND
		DATE OF NAME CHANGE:	20021107
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0000810943</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>




    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>High Income Securities Fund</regName>
      <regFileNumber>811-05133</regFileNumber>
      <regCik>0000810943</regCik>
      <regLei>25RM533JWPQG19PQ1G87</regLei>
      <regStreet1>615 East Michigan Street</regStreet1>
      <regCity>Milwaukee</regCity>
      <regStateConditional regCountry="US" regState="US-WI"/>
      <regZipOrPostalCode>53202</regZipOrPostalCode>
      <regPhone>4147654255</regPhone>
      <seriesName>High Income Securities Fund</seriesName>
      <seriesLei>25RM533JWPQG19PQ1G87</seriesLei>
      <repPdEnd>2025-08-31</repPdEnd>
      <repPdDate>2025-02-28</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>134730326.250000000000</totAssets>
      <totLiabs>834924.030000000000</totLiabs>
      <netAssets>133895402.220000000000</netAssets>
      <assetsAttrMiscSec>0.000000000000</assetsAttrMiscSec>
      <assetsInvested>0.000000000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.000000000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.000000000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.000000000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.000000000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.000000000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.000000000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.000000000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.000000000000</amtPayAftOneYrOther>
      <delayDeliv>0.000000000000</delayDeliv>
      <standByCommit>0.000000000000</standByCommit>
      <liquidPref>0.000000000000</liquidPref>
      <cshNotRptdInCorD>72742.320000000000</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn rtn1="-3.19" rtn2="4.14" rtn3="2.08"/>
        </monthlyTotReturns>
        <monthlyReturnCats>
          <equityContracts>
            <mon1 netRealizedGain="17159.930000000000" netUnrealizedAppr="39224.410000000000"/>
            <mon2 netRealizedGain="N/A" netUnrealizedAppr="-5431.010000000000"/>
            <mon3 netRealizedGain="N/A" netUnrealizedAppr="51276.110000000000"/>
            <warrantCategory>
              <instrMon1 netRealizedGain="17159.930000000000" netUnrealizedAppr="39224.410000000000"/>
              <instrMon2 netRealizedGain="N/A" netUnrealizedAppr="-5431.010000000000"/>
              <instrMon3 netRealizedGain="N/A" netUnrealizedAppr="51276.110000000000"/>
            </warrantCategory>
          </equityContracts>
        </monthlyReturnCats>
        <othMon1 netRealizedGain="561024.250000000000" netUnrealizedAppr="-5240973.980000000000"/>
        <othMon2 netRealizedGain="-152163.160000000000" netUnrealizedAppr="2224825.290000000000"/>
        <othMon3 netRealizedGain="-1820520.610000000000" netUnrealizedAppr="2700974.620000000000"/>
      </returnInfo>
      <mon1Flow redemption="75472250.000000000000" reinvestment=".000000000000" sales=".000000000000"/>
      <mon2Flow redemption=".000000000000" reinvestment=".000000000000" sales=".000000000000"/>
      <mon3Flow redemption=".000000000000" reinvestment=".000000000000" sales=".000000000000"/>


      <varInfo>

        <fundsDesignatedInfo>
          <nameDesignatedIndex>N/A</nameDesignatedIndex>
          <indexIdentifier>N/A</indexIdentifier>

        </fundsDesignatedInfo>

      </varInfo>
    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>MFS Investment Grade Municipal</name>
        <lei>TQV30XJRB3S7V50XRW52</lei>
        <title>MFS Investment Grade Municipal Trust</title>
        <cusip>59318B108</cusip>
        <identifiers>
          <isin value="US59318B1089"/>
          <ticker value="CXH"/>
        </identifiers>
        <balance>245951.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1999581.630000000000</valUSD>
        <pctVal>1.4933908087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bancroft Fund Ltd</name>
        <lei>5493000X4Y1FB4G26P45</lei>
        <title>Bancroft Fund Ltd</title>
        <cusip>059695106</cusip>
        <identifiers>
          <isin value="US0596951063"/>
          <ticker value="BCV"/>
        </identifiers>
        <balance>13819.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>251928.660000000000</valUSD>
        <pctVal>0.1881533315</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BNY Mellon Strategic Municipal</name>
        <lei>54930044KK4C1VDJ7M52</lei>
        <title>BNY Mellon Strategic Municipal Bond Fund Inc</title>
        <cusip>09662E109</cusip>
        <identifiers>
          <isin value="US09662E1091"/>
          <ticker value="DSM"/>
        </identifiers>
        <balance>898749.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5419456.470000000000</valUSD>
        <pctVal>4.0475299227</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AA MISSION ACQUISITION COR-A</name>
        <lei>N/A</lei>
        <title>AA Mission Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG1000R1276"/>
          <ticker value="AAM/WS"/>
        </identifiers>
        <balance>50000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3500.000000000000</valUSD>
        <pctVal>0.0026139807</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>New York</counterpartyName>
              <counterpartyLei>5493000F4ZO33MV32P92</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>AA Mission Acquisition Corp</issuerName>
                <issueTitle>AA Mission Acquisition Corp</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG1000R1011"/>
                  <ticker value="AAM"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2030-08-01</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>760.310000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ares Acquisition Corp II</name>
        <lei>N/A</lei>
        <title>Ares Acquisition Corp II</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG330331045"/>
          <ticker value="AACT"/>
        </identifiers>
        <balance>171046.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1893479.220000000000</valUSD>
        <pctVal>1.4141480503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Highland Opportunities and Inc</name>
        <lei>254900CMUE9FRYL2UR80</lei>
        <title>Highland Opportunities and Income Fund</title>
        <cusip>43010E404</cusip>
        <identifiers>
          <isin value="US43010E4044"/>
          <ticker value="HFRO"/>
        </identifiers>
        <balance>10000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>57900.000000000000</valUSD>
        <pctVal>0.0432427096</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Runway Growth Finance Corp</name>
        <lei>N/A</lei>
        <title>Runway Growth Finance Corp</title>
        <cusip>78163D100</cusip>
        <identifiers>
          <isin value="US78163D1000"/>
          <ticker value="RWAY"/>
        </identifiers>
        <balance>229492.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2640305.460000000000</valUSD>
        <pctVal>1.9719164484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SuRo Capital Corp</name>
        <lei>549300YR4IAV0VJFWN84</lei>
        <title>SuRo Capital Corp</title>
        <cusip>86887Q109</cusip>
        <identifiers>
          <isin value="US86887Q1094"/>
          <ticker value="SSSS"/>
        </identifiers>
        <balance>22933.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>149064.500000000000</valUSD>
        <pctVal>0.1113290655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Platinum Asia Investments Ltd</name>
        <lei>549300836DYWB3XCP779</lei>
        <title>Platinum Asia Investments Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000PAI4"/>
          <ticker value="PAI"/>
        </identifiers>
        <balance>168578.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.611600000000"/>
        <valUSD>112448.100000000000</valUSD>
        <pctVal>0.0839820473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Perceptive Capital Solutions C</name>
        <lei>N/A</lei>
        <title>Perceptive Capital Solutions Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG700771051"/>
          <ticker value="PCSC"/>
        </identifiers>
        <balance>50000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>514000.000000000000</valUSD>
        <pctVal>0.3838817401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Silverbox Corp IV</name>
        <lei>N/A</lei>
        <title>Silverbox Corp IV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG813541052"/>
          <ticker value="SBXD"/>
        </identifiers>
        <balance>110050.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1117007.500000000000</valUSD>
        <pctVal>0.8342388771</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Copper Property CTL Pass Throu</name>
        <lei>N/A</lei>
        <title>Copper Property CTL Pass Through Trust</title>
        <cusip>217519107</cusip>
        <identifiers>
          <isin value="US2175191079"/>
          <ticker value="CPPTL"/>
        </identifiers>
        <balance>109428.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1395207.000000000000</valUSD>
        <pctVal>1.0420126284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Neuberger Berman Municipal Fun</name>
        <lei>549300IIZWX8QVUHXO20</lei>
        <title>Neuberger Berman Municipal Fund Inc</title>
        <cusip>64124P101</cusip>
        <identifiers>
          <isin value="US64124P1012"/>
          <ticker value="NBH"/>
        </identifiers>
        <balance>150541.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1615304.930000000000</valUSD>
        <pctVal>1.2063931272</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OFS CREDIT COMPANY</name>
        <lei>549300A7A6U0QNX5FB55</lei>
        <title>OFS Credit Co Inc</title>
        <cusip>67111Q404</cusip>
        <identifiers>
          <isin value="US67111Q4047"/>
          <ticker value="OCCI"/>
        </identifiers>
        <balance>60000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1431900.000000000000</valUSD>
        <pctVal>1.0694168554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PhenixFIN Corp</name>
        <lei>549300JJH1QEB0RKNO53</lei>
        <title>PhenixFIN Corp</title>
        <cusip>71742W103</cusip>
        <identifiers>
          <isin value="US71742W1036"/>
          <ticker value="PFX"/>
        </identifiers>
        <balance>19218.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1033736.220000000000</valUSD>
        <pctVal>0.7720475855</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bold Eagle Acquisition Corp</name>
        <lei>N/A</lei>
        <title>Bold Eagle Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2003N1218"/>
          <ticker value="BEAGR"/>
        </identifiers>
        <balance>100000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22000.000000000000</valUSD>
        <pctVal>0.0164307360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Launch One Acquisition Corp</name>
        <lei>N/A</lei>
        <title>Launch One Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG5S86M1005"/>
          <ticker value="LPAA"/>
        </identifiers>
        <balance>150000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1525500.000000000000</valUSD>
        <pctVal>1.1393221684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Melar Acquisition Corp I</name>
        <lei>N/A</lei>
        <title>Melar Acquisition Corp I</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG6004G1001"/>
          <ticker value="MACI"/>
        </identifiers>
        <balance>75000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>767250.000000000000</valUSD>
        <pctVal>0.5730219166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RF Acquisition Corp II</name>
        <lei>N/A</lei>
        <title>RF Acquisition Corp II</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG753891095"/>
          <ticker value="RFAI"/>
        </identifiers>
        <balance>180782.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1865670.240000000000</valUSD>
        <pctVal>1.3933788682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Roman DBDR Acquisition Corp II</name>
        <lei>N/A</lei>
        <title>Roman DBDR Acquisition Corp II</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG7633M1042"/>
          <ticker value="DRDB"/>
        </identifiers>
        <balance>125000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1242500.000000000000</valUSD>
        <pctVal>0.9279631559</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SILVERBOX CORP IV-A</name>
        <lei>N/A</lei>
        <title>Silverbox Corp IV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG813541219"/>
          <ticker value="SBXD/WS"/>
        </identifiers>
        <balance>36683.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12472.220000000000</valUSD>
        <pctVal>0.0093148979</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>New York</counterpartyName>
              <counterpartyLei>5493000F4ZO33MV32P92</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Silverbox Corp IV</issuerName>
                <issueTitle>Silverbox Corp IV</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG813541052"/>
                  <ticker value="SBXD"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2029-09-24</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>6985.310000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIM Acquisition Corp I</name>
        <lei>N/A</lei>
        <title>SIM Acquisition Corp I</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8431T1013"/>
          <ticker value="SIMA"/>
        </identifiers>
        <balance>150000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1530000.000000000000</valUSD>
        <pctVal>1.1426830008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Voyager Acquisition Corp</name>
        <lei>N/A</lei>
        <title>Voyager Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG93A7H1041"/>
          <ticker value="VACH"/>
        </identifiers>
        <balance>290284.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2949285.440000000000</valUSD>
        <pctVal>2.2026786515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VOYAGER ACQUISITION CORP</name>
        <lei>N/A</lei>
        <title>Voyager Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG93A7H1124"/>
          <ticker value="VACHW"/>
        </identifiers>
        <balance>145142.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21771.300000000000</valUSD>
        <pctVal>0.0162599310</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>NASDAQ GM</counterpartyName>
              <counterpartyLei>549300L8X1Q78ERXFD06</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Voyager Acquisition Corp</issuerName>
                <issueTitle>Voyager Acquisition Corp</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG93A7H1041"/>
                  <ticker value="VACH"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2031-05-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>9516.790000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IB Acquisition Corp</name>
        <lei>N/A</lei>
        <title>IB Acquisition Corp</title>
        <cusip>44934N116</cusip>
        <identifiers>
          <isin value="US44934N1164"/>
          <ticker value="IBACR"/>
        </identifiers>
        <balance>129140.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7154.360000000000</valUSD>
        <pctVal>0.0053432455</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MFS High Income Municipal Trus</name>
        <lei>0G9TCUWY2FBUXSJY2691</lei>
        <title>MFS High Income Municipal Trust</title>
        <cusip>59318D104</cusip>
        <identifiers>
          <isin value="US59318D1046"/>
          <ticker value="CXE"/>
        </identifiers>
        <balance>63492.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>242539.440000000000</valUSD>
        <pctVal>0.1811409772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Emerging Market</name>
        <lei>541YGIXZ6JJP4EZDJI96</lei>
        <title>Morgan Stanley Emerging Markets Domestic Debt Fund Inc</title>
        <cusip>617477104</cusip>
        <identifiers>
          <isin value="US6174771047"/>
          <ticker value="EDD"/>
        </identifiers>
        <balance>55414.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>265433.060000000000</valUSD>
        <pctVal>0.1982391147</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEXPOINT DIV REAL ESTA</name>
        <lei>5493008KGR2NU3OXMR64</lei>
        <title>NexPoint Diversified Real Estate Trust</title>
        <cusip>65340G304</cusip>
        <identifiers>
          <isin value="US65340G3048"/>
          <ticker value="NXDT"/>
        </identifiers>
        <balance>94082.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1513779.380000000000</valUSD>
        <pctVal>1.1305686042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OXFORD LANE CAPITAL CORP</name>
        <lei>549300G3KO4JNQQD7Z72</lei>
        <title>Oxford Lane Capital Corp</title>
        <cusip>691543854</cusip>
        <identifiers>
          <isin value="US6915438542"/>
          <ticker value="OXLC"/>
        </identifiers>
        <balance>32500.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>800010.250000000000</valUSD>
        <pctVal>0.5974889628</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Portman Ridge Finance Corp</name>
        <lei>254900YM5BVQKA01I468</lei>
        <title>Portman Ridge Finance Corp</title>
        <cusip>73688F201</cusip>
        <identifiers>
          <isin value="US73688F2011"/>
          <ticker value="PTMN"/>
        </identifiers>
        <balance>131630.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2296943.500000000000</valUSD>
        <pctVal>1.7154760073</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RELATIVITY ACQUISITION COR-A</name>
        <lei>N/A</lei>
        <title>Relativity Acquisition Corp</title>
        <cusip>75944B114</cusip>
        <identifiers>
          <isin value="US75944B1145"/>
          <ticker value="RACYW"/>
        </identifiers>
        <balance>21700.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>.000000000000</valUSD>
        <pctVal>0.0000000000</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>Nasdaq Stock Market</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Relativity Acquisition Corp</issuerName>
                <issueTitle>Relativity Acquisition Corp</issueTitle>
                <identifiers>
                  <cusip value="75944B106"/>
                  <isin value="US75944B1061"/>
                  <ticker value="RACY"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-02-11</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-788.710000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Saba Capital Income &amp; Opportun</name>
        <lei>549300MGSUUJ7E55N746</lei>
        <title>Saba Capital Income &amp; Opportunities Fund</title>
        <cusip>78518H202</cusip>
        <identifiers>
          <isin value="US78518H2022"/>
          <ticker value="BRW"/>
        </identifiers>
        <balance>92831.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>738934.760000000000</valUSD>
        <pctVal>0.5518746333</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HCM II ACQUISITION CORP-CL A</name>
        <lei>N/A</lei>
        <title>HCM II Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG436581220"/>
          <ticker value="HONDW"/>
        </identifiers>
        <balance>125000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18750.000000000000</valUSD>
        <pctVal>0.0140034681</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>NASDAQ GM</counterpartyName>
              <counterpartyLei>549300L8X1Q78ERXFD06</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>HCM II Acquisition Corp</issuerName>
                <issueTitle>HCM II Acquisition Corp</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG436581063"/>
                  <ticker value="HOND"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2029-10-10</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>7809.080000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LEGATO MERGER CORP III</name>
        <lei>N/A</lei>
        <title>Legato Merger Corp III</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG5451A1114"/>
          <ticker value="LEGT/WS"/>
        </identifiers>
        <balance>20098.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4218.570000000000</valUSD>
        <pctVal>0.0031506459</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>NYSEAmerican</counterpartyName>
              <counterpartyLei>5493000F4ZO33MV32P92</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Legato Merger Corp III</issuerName>
                <issueTitle>Legato Merger Corp III</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG5451A1031"/>
                  <ticker value="LEGT"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2029-03-28</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>860.670000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lionheart Holdings</name>
        <lei>N/A</lei>
        <title>Lionheart Holdings</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG5501C1096"/>
          <ticker value="CUB"/>
        </identifiers>
        <balance>73338.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>747314.220000000000</valUSD>
        <pctVal>0.5581328467</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>M3-BRIGADE ACQUISITION V-A</name>
        <lei>N/A</lei>
        <title>M3-Brigade Acquisition V Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG632121151"/>
          <ticker value="MBAVW"/>
        </identifiers>
        <balance>127624.500000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33182.370000000000</valUSD>
        <pctVal>0.0247823073</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>NASDAQ GM</counterpartyName>
              <counterpartyLei>549300L8X1Q78ERXFD06</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>M3-Brigade Acquisition V Corp</issuerName>
                <issueTitle>M3-Brigade Acquisition V Corp</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG632121078"/>
                  <ticker value="MBAV"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2030-09-23</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>14143.100000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AA Mission Acquisition Corp</name>
        <lei>N/A</lei>
        <title>AA Mission Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG1000R1011"/>
          <ticker value="AAM"/>
        </identifiers>
        <balance>100000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1021000.000000000000</valUSD>
        <pctVal>0.7625355188</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Andretti Acquisition Corp II</name>
        <lei>N/A</lei>
        <title>Andretti Acquisition Corp II</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG267451022"/>
          <ticker value="POLE"/>
        </identifiers>
        <balance>50000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>505500.000000000000</valUSD>
        <pctVal>0.3775335012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HARBOR CUSTOM DEV INC</name>
        <lei>549300X40TN4PVCY6F45</lei>
        <title>Harbor Custom Development Inc</title>
        <cusip>41150T207</cusip>
        <identifiers>
          <isin value="US41150T2078"/>
          <ticker value="HCDI"/>
        </identifiers>
        <balance>131166.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>262.330000000000</valUSD>
        <pctVal>0.0001959216</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DYNAMIX CORP</name>
        <lei>N/A</lei>
        <title>Dynamix Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2949D1126"/>
          <ticker value="DYNXW"/>
        </identifiers>
        <balance>52910.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14814.800000000000</valUSD>
        <pctVal>0.0110644576</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>NASDAQ GM</counterpartyName>
              <counterpartyLei>549300L8X1Q78ERXFD06</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Dynamix Corp</issuerName>
                <issueTitle>Dynamix Corp</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG2949D1043"/>
                  <ticker value="DYNX"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2029-12-06</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>1500.760000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eureka Acquisition Corp</name>
        <lei>N/A</lei>
        <title>Eureka Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG321681259"/>
          <ticker value="EURKR"/>
        </identifiers>
        <balance>50000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12500.000000000000</valUSD>
        <pctVal>0.0093356454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>abrdn Japan Equity Fund Inc</name>
        <lei>549300TENE1BGI09O157</lei>
        <title>abrdn Japan Equity Fund Inc</title>
        <cusip>00306J109</cusip>
        <identifiers>
          <isin value="US00306J1097"/>
          <ticker value="JEQ"/>
        </identifiers>
        <balance>8262.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47506.500000000000</valUSD>
        <pctVal>0.0354803072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AllianceBernstein National Mun</name>
        <lei>MNYPOOOZYY8V01GEIT28</lei>
        <title>AllianceBernstein National Municipal Income Fund Inc</title>
        <cusip>01864U106</cusip>
        <identifiers>
          <isin value="US01864U1060"/>
          <ticker value="AFB"/>
        </identifiers>
        <balance>424029.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4791527.700000000000</valUSD>
        <pctVal>3.5785602945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BNY Mellon Municipal Income In</name>
        <lei>549300BKYDDROJTY1E24</lei>
        <title>BNY Mellon Municipal Income Inc</title>
        <cusip>05589T104</cusip>
        <identifiers>
          <isin value="US05589T1043"/>
          <ticker value="DMF"/>
        </identifiers>
        <balance>622204.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4467424.720000000000</valUSD>
        <pctVal>3.3365034541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LEGACY IMBDS INC</name>
        <lei>5299009C9SZXPB0EEN07</lei>
        <title>Legacy IMBDS Inc</title>
        <cusip>452465305</cusip>
        <identifiers>
          <isin value="US4524653056"/>
          <ticker value="IMBI"/>
        </identifiers>
        <balance>27802.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>.000000000000</valUSD>
        <pctVal>0.0000000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Logan Ridge Finance Corp</name>
        <lei>5493007DZ22O2I4VJ124</lei>
        <title>Logan Ridge Finance Corp</title>
        <cusip>541098109</cusip>
        <identifiers>
          <isin value="US5410981097"/>
          <ticker value="LRFC"/>
        </identifiers>
        <balance>81300.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2028435.000000000000</valUSD>
        <pctVal>1.5149399952</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MFS High Yield Municipal Trust</name>
        <lei>A8WLLLHJKX1MW5QPZU93</lei>
        <title>MFS High Yield Municipal Trust</title>
        <cusip>59318E102</cusip>
        <identifiers>
          <isin value="US59318E1029"/>
          <ticker value="CMU"/>
        </identifiers>
        <balance>764756.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2753121.600000000000</valUSD>
        <pctVal>2.0561733669</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Neuberger Berman Next Generati</name>
        <lei>549300GRTFKXVB9LQE61</lei>
        <title>Neuberger Berman Next Generation Connectivity Fund Inc</title>
        <cusip>64133Q108</cusip>
        <identifiers>
          <isin value="US64133Q1085"/>
          <ticker value="NBXG"/>
        </identifiers>
        <balance>335788.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4408896.440000000000</valUSD>
        <pctVal>3.2927915126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New America High Income Fund I</name>
        <lei>V5LSTDFQKWGSW30MQ381</lei>
        <title>New America High Income Fund Inc/The</title>
        <cusip>641876800</cusip>
        <identifiers>
          <isin value="US6418768007"/>
          <ticker value="HYB"/>
        </identifiers>
        <balance>566415.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4644603.000000000000</valUSD>
        <pctVal>3.4688293422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NexPoint Diversified Real Esta</name>
        <lei>5493008KGR2NU3OXMR64</lei>
        <title>NexPoint Diversified Real Estate Trust</title>
        <cusip>65340G205</cusip>
        <identifiers>
          <isin value="US65340G2057"/>
          <ticker value="NXDT"/>
        </identifiers>
        <balance>155597.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>771761.120000000000</valUSD>
        <pctVal>0.5763910539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Principal Real Estate Income F</name>
        <lei>549300HK3LIJEGLGMK36</lei>
        <title>Principal Real Estate Income Fund</title>
        <cusip>74255X104</cusip>
        <identifiers>
          <isin value="US74255X1046"/>
          <ticker value="PGZ"/>
        </identifiers>
        <balance>190218.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2023919.520000000000</valUSD>
        <pctVal>1.5115676016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco Treasury Portfolio</name>
        <lei>5493004B3TM8ZIDDDC39</lei>
        <title>Invesco Treasury Portfolio</title>
        <cusip>825252406</cusip>
        <identifiers>
          <isin value="US8252524066"/>
          <ticker value="TRPXX"/>
        </identifiers>
        <balance>9584471.710000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9584471.710000000000</valUSD>
        <pctVal>7.1581783624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EQV Ventures Acquisition Corp</name>
        <lei>N/A</lei>
        <title>EQV Ventures Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG3106N1097"/>
          <ticker value="EQV"/>
        </identifiers>
        <balance>250000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2507500.000000000000</valUSD>
        <pctVal>1.8727304735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GIGCAPITAL7 CORP-A</name>
        <lei>N/A</lei>
        <title>GigCapital7 Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG386481207"/>
          <ticker value="GIGGW"/>
        </identifiers>
        <balance>166013.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12450.980000000000</valUSD>
        <pctVal>0.0092990348</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>NASDAQ GM</counterpartyName>
              <counterpartyLei>549300L8X1Q78ERXFD06</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GigCapital7 Corp</issuerName>
                <issueTitle>GigCapital7 Corp</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG386481041"/>
                  <ticker value="GIG"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2029-09-11</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>3348.990000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cantor Equity Partners Inc</name>
        <lei>N/A</lei>
        <title>Cantor Equity Partners Inc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG4491L1041"/>
          <ticker value="CEP"/>
        </identifiers>
        <balance>265000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2724200.000000000000</valUSD>
        <pctVal>2.0345732227</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Legato Merger Corp III</name>
        <lei>N/A</lei>
        <title>Legato Merger Corp III</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG5451A1031"/>
          <ticker value="LEGT"/>
        </identifiers>
        <balance>40196.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>417636.440000000000</valUSD>
        <pctVal>0.3119124578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIONHEART HOLDINGS - CL A</name>
        <lei>N/A</lei>
        <title>Lionheart Holdings</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG5501C1179"/>
          <ticker value="CUBWW"/>
        </identifiers>
        <balance>36669.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4400.280000000000</valUSD>
        <pctVal>0.0032863563</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>NASDAQ GM</counterpartyName>
              <counterpartyLei>549300L8X1Q78ERXFD06</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Lionheart Holdings</issuerName>
                <issueTitle>Lionheart Holdings</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG5501C1096"/>
                  <ticker value="CUB"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2029-08-09</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>1839.870000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LAUNCH ONE ACQUISITION CORP</name>
        <lei>N/A</lei>
        <title>Launch One Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG5S86M1260"/>
          <ticker value="LPAAW"/>
        </identifiers>
        <balance>75000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12000.000000000000</valUSD>
        <pctVal>0.0089622196</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>NASDAQ GM</counterpartyName>
              <counterpartyLei>549300L8X1Q78ERXFD06</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Launch One Acquisition Corp</issuerName>
                <issueTitle>Launch One Acquisition Corp</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG5S86M1005"/>
                  <ticker value="LPAA"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2029-08-29</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>6034.920000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MELAR ACQUISITION CORP I-A</name>
        <lei>N/A</lei>
        <title>Melar Acquisition Corp I</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG6004G1183"/>
          <ticker value="MACIW"/>
        </identifiers>
        <balance>37500.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5001.600000000000</valUSD>
        <pctVal>0.0037354531</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>NASDAQ GM</counterpartyName>
              <counterpartyLei>549300L8X1Q78ERXFD06</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Melar Acquisition Corp I</issuerName>
                <issueTitle>Melar Acquisition Corp I</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG6004G1001"/>
                  <ticker value="MACI"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2031-06-01</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>1563.950000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>M3-Brigade Acquisition V Corp</name>
        <lei>N/A</lei>
        <title>M3-Brigade Acquisition V Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG632121078"/>
          <ticker value="MBAV"/>
        </identifiers>
        <balance>255249.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2588224.860000000000</valUSD>
        <pctVal>1.9330199671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nabors Energy Transition Corp</name>
        <lei>N/A</lei>
        <title>Nabors Energy Transition Corp II</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG6363K1067"/>
          <ticker value="NETD"/>
        </identifiers>
        <balance>39885.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>436541.330000000000</valUSD>
        <pctVal>0.3260316058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Clough Global Opportunities Fu</name>
        <lei>549300DTG68UBCNCPY15</lei>
        <title>Clough Global Opportunities Fund</title>
        <cusip>18914E106</cusip>
        <identifiers>
          <isin value="US18914E1064"/>
          <ticker value="GLO"/>
        </identifiers>
        <balance>127292.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>651735.040000000000</valUSD>
        <pctVal>0.4867493799</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ellsworth Growth and Income Fu</name>
        <lei>549300GYFOXHCDQTI772</lei>
        <title>Ellsworth Growth and Income Fund Ltd</title>
        <cusip>289074106</cusip>
        <identifiers>
          <isin value="US2890741067"/>
          <ticker value="ECF"/>
        </identifiers>
        <balance>173161.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1677930.090000000000</valUSD>
        <pctVal>1.2531648303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fidelity Government Portfolio</name>
        <lei>549300FQDFZGLUOCWN51</lei>
        <title>Fidelity Government Portfolio</title>
        <cusip>316175108</cusip>
        <identifiers>
          <isin value="US3161751082"/>
          <ticker value="FIGXX"/>
        </identifiers>
        <balance>9584471.710000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9584471.710000000000</valUSD>
        <pctVal>7.1581783624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OFS Capital Corp</name>
        <lei>549300XTK3HSWPDBJD13</lei>
        <title>OFS Capital Corp</title>
        <cusip>67103B100</cusip>
        <identifiers>
          <isin value="US67103B1008"/>
          <ticker value="OFS"/>
        </identifiers>
        <balance>66663.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>553302.900000000000</valUSD>
        <pctVal>0.4132351752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tortoise Energy Infrastructure</name>
        <lei>5493008P735YB22YPB89</lei>
        <title>Tortoise Energy Infrastructure Corp</title>
        <cusip>89147L886</cusip>
        <identifiers>
          <isin value="US89147L8862"/>
          <ticker value="TYG"/>
        </identifiers>
        <balance>77156.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3343941.040000000000</valUSD>
        <pctVal>2.4974278314</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Virtus Total Return Fund Inc</name>
        <lei>549300KKRHI4GF7RNQ81</lei>
        <title>Virtus Total Return Fund Inc</title>
        <cusip>92835W107</cusip>
        <identifiers>
          <isin value="US92835W1071"/>
          <ticker value="ZTR"/>
        </identifiers>
        <balance>63174.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>369567.900000000000</valUSD>
        <pctVal>0.2760123902</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XAI OCTAGON FLT RT ALT</name>
        <lei>549300XT617P63BLW552</lei>
        <title>XAI Octagon Floating Rate Alternative Income Trust</title>
        <cusip>98400T205</cusip>
        <identifiers>
          <isin value="US98400T2050"/>
          <ticker value="XFLT"/>
        </identifiers>
        <balance>80000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2005600.000000000000</valUSD>
        <pctVal>1.4978856382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EQV VENTURES ACQUISITION C-A</name>
        <lei>N/A</lei>
        <title>EQV Ventures Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG3106N1170"/>
          <ticker value="EQV/WS"/>
        </identifiers>
        <balance>83333.333333000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33333.330000000000</valUSD>
        <pctVal>0.0248950520</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>New York</counterpartyName>
              <counterpartyLei>5493000F4ZO33MV32P92</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>EQV Ventures Acquisition Corp</issuerName>
                <issueTitle>EQV Ventures Acquisition Corp</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG3106N1097"/>
                  <ticker value="EQV"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2031-07-01</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>20051.200000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HCM II Acquisition Corp</name>
        <lei>N/A</lei>
        <title>HCM II Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG436581063"/>
          <ticker value="HOND"/>
        </identifiers>
        <balance>250000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2535000.000000000000</valUSD>
        <pctVal>1.8932688935</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Haymaker Acquisition Corp 4</name>
        <lei>N/A</lei>
        <title>Haymaker Acquisition Corp 4</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG4375F1081"/>
          <ticker value="HYAC"/>
        </identifiers>
        <balance>158353.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1724464.170000000000</valUSD>
        <pctVal>1.2879188840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROMAN DBDR ACQUISITION CORP</name>
        <lei>N/A</lei>
        <title>Roman DBDR Acquisition Corp II</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG7633M1125"/>
          <ticker value="DRDBW"/>
        </identifiers>
        <balance>62500.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21250.000000000000</valUSD>
        <pctVal>0.0158705972</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>NASDAQ GM</counterpartyName>
              <counterpartyLei>549300L8X1Q78ERXFD06</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Roman DBDR Acquisition Corp II</issuerName>
                <issueTitle>Roman DBDR Acquisition Corp II</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG7633M1042"/>
                  <ticker value="DRDB"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2030-02-03</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>5757.350000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIM ACQUISITION CORP I-A</name>
        <lei>N/A</lei>
        <title>SIM Acquisition Corp I</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8431T1195"/>
          <ticker value="SIMAW"/>
        </identifiers>
        <balance>75000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11250.000000000000</valUSD>
        <pctVal>0.0084020809</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>NASDAQ GM</counterpartyName>
              <counterpartyLei>549300L8X1Q78ERXFD06</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SIM Acquisition Corp I</issuerName>
                <issueTitle>SIM Acquisition Corp I</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG8431T1013"/>
                  <ticker value="SIMA"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2029-08-28</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>4724.980000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHURCHILL CAPITAL CORP IX</name>
        <lei>N/A</lei>
        <title>Churchill Capital Corp IX</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG213011177"/>
          <ticker value="CCIXW"/>
        </identifiers>
        <balance>611.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>323.830000000000</valUSD>
        <pctVal>0.0002418530</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>NASDAQ GM</counterpartyName>
              <counterpartyLei>549300L8X1Q78ERXFD06</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Churchill Capital Corp IX</issuerName>
                <issueTitle>Churchill Capital Corp IX</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG213011094"/>
                  <ticker value="CCIX"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2029-06-11</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>124.440000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>abrdn Emerging Markets ex Chin</name>
        <lei>549300MSYUW07RYUZD27</lei>
        <title>abrdn Emerging Markets ex China Fund Inc</title>
        <cusip>00301W105</cusip>
        <identifiers>
          <isin value="US00301W1053"/>
          <ticker value="AEF"/>
        </identifiers>
        <balance>64960.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>333244.800000000000</valUSD>
        <pctVal>0.2488844236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eaton Vance New York Municipal</name>
        <lei>5493003LD9U89XVQ7W91</lei>
        <title>Eaton Vance New York Municipal Bond Fund</title>
        <cusip>27827Y109</cusip>
        <identifiers>
          <isin value="US27827Y1091"/>
          <ticker value="ENX"/>
        </identifiers>
        <balance>245067.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2411459.280000000000</valUSD>
        <pctVal>1.8010023048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CENTURION ACQUISITION CORP</name>
        <lei>N/A</lei>
        <title>Centurion Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG203151181"/>
          <ticker value="ALFUW"/>
        </identifiers>
        <balance>78125.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13281.250000000000</valUSD>
        <pctVal>0.0099191233</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>NASDAQ GM</counterpartyName>
              <counterpartyLei>549300L8X1Q78ERXFD06</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Centurion Acquisition Corp</issuerName>
                <issueTitle>Centurion Acquisition Corp</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG203151009"/>
                  <ticker value="ALF"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2029-08-01</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>5471.240000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DWS Municipal Income Trust</name>
        <lei>TEL2CK71Z3LE1OCHIB43</lei>
        <title>DWS Municipal Income Trust</title>
        <cusip>233368109</cusip>
        <identifiers>
          <isin value="US2333681094"/>
          <ticker value="KTF"/>
        </identifiers>
        <balance>306394.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2975085.740000000000</valUSD>
        <pctVal>2.2219476477</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gabelli Dividend &amp; Income Trus</name>
        <lei>549300082N1MHBT8NI60</lei>
        <title>Gabelli Dividend &amp; Income Trust/The</title>
        <cusip>36242H104</cusip>
        <identifiers>
          <isin value="US36242H1041"/>
          <ticker value="GDV"/>
        </identifiers>
        <balance>151344.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3754844.640000000000</valUSD>
        <pctVal>2.8043118567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Iron Horse Acquisitions Corp</name>
        <lei>5493000JDZP9ZR3A1A41</lei>
        <title>Iron Horse Acquisitions Corp</title>
        <cusip>462837105</cusip>
        <identifiers>
          <isin value="US4628371050"/>
          <ticker value="IROH"/>
        </identifiers>
        <balance>32232.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>337146.720000000000</valUSD>
        <pctVal>0.2517985789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cayson Acquisition Corp</name>
        <lei>N/A</lei>
        <title>Cayson Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG1993W1096"/>
          <ticker value="CAPN"/>
        </identifiers>
        <balance>45000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>455400.000000000000</valUSD>
        <pctVal>0.3401162344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bold Eagle Acquisition Corp</name>
        <lei>N/A</lei>
        <title>Bold Eagle Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2003N1051"/>
          <ticker value="BEAG"/>
        </identifiers>
        <balance>100000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1003000.000000000000</valUSD>
        <pctVal>0.7490921894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Centurion Acquisition Corp</name>
        <lei>N/A</lei>
        <title>Centurion Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG203151009"/>
          <ticker value="ALF"/>
        </identifiers>
        <balance>156250.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1592187.500000000000</valUSD>
        <pctVal>1.1891278368</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eureka Acquisition Corp</name>
        <lei>N/A</lei>
        <title>Eureka Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG321681093"/>
          <ticker value="EURK"/>
        </identifiers>
        <balance>50000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>512500.000000000000</valUSD>
        <pctVal>0.3827614627</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Flag Ship Acquisition Corp</name>
        <lei>N/A</lei>
        <title>Flag Ship Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG3530C1179"/>
          <ticker value="FSHPR"/>
        </identifiers>
        <balance>137500.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27156.250000000000</valUSD>
        <pctVal>0.0202816897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GigCapital7 Corp</name>
        <lei>N/A</lei>
        <title>GigCapital7 Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG386481041"/>
          <ticker value="GIG"/>
        </identifiers>
        <balance>166013.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1673577.050000000000</valUSD>
        <pctVal>1.2499137553</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jackson Acquisition Co II</name>
        <lei>N/A</lei>
        <title>Jackson Acquisition Co II</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG4992A1105"/>
          <ticker value="JACS"/>
        </identifiers>
        <balance>100000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1003000.000000000000</valUSD>
        <pctVal>0.7490921894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Herzfeld Caribbean Basin Fund</name>
        <lei>549300ML0K6PRXPULR11</lei>
        <title>Herzfeld Caribbean Basin Fund Inc/The</title>
        <cusip>42804T106</cusip>
        <identifiers>
          <isin value="US42804T1060"/>
          <ticker value="CUBA"/>
        </identifiers>
        <balance>137319.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>319953.270000000000</valUSD>
        <pctVal>0.2389576227</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cayson Acquisition Corp</name>
        <lei>N/A</lei>
        <title>Cayson Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG1993W1179"/>
          <ticker value="CAPNR"/>
        </identifiers>
        <balance>45000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5850.000000000000</valUSD>
        <pctVal>0.0043690821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BlackRock Technology and Priva</name>
        <lei>549300G3XFQ7175KM723</lei>
        <title>BlackRock Technology and Private Equity Term Trust</title>
        <cusip>09260Q108</cusip>
        <identifiers>
          <isin value="US09260Q1085"/>
          <ticker value="BTX"/>
        </identifiers>
        <balance>117859.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>837977.490000000000</valUSD>
        <pctVal>0.6258448581</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CEDAR REALTY TRUST INC</name>
        <lei>54930056URX93R2RSN82</lei>
        <title>Cedar Realty Trust Inc</title>
        <cusip>150602506</cusip>
        <identifiers>
          <isin value="US1506025063"/>
          <ticker value="CDR"/>
        </identifiers>
        <balance>17244.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>268833.960000000000</valUSD>
        <pctVal>0.2007790824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CION Investment Corp</name>
        <lei>549300XN70JLF94XKX80</lei>
        <title>CION Investment Corp</title>
        <cusip>17259U204</cusip>
        <identifiers>
          <isin value="US17259U2042"/>
          <ticker value="CION"/>
        </identifiers>
        <balance>626379.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7854792.660000000000</valUSD>
        <pctVal>5.8663647368</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Destra Multi-Alternative Fund</name>
        <lei>N/A</lei>
        <title>Destra Multi-Alternative Fund</title>
        <cusip>25065A502</cusip>
        <identifiers>
          <isin value="US25065A5020"/>
          <ticker value="DMA"/>
        </identifiers>
        <balance>166851.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1468288.800000000000</valUSD>
        <pctVal>1.0965938902</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GDL Fund/The</name>
        <lei>5493000XKGL8ZPN99479</lei>
        <title>GDL Fund/The</title>
        <cusip>361570104</cusip>
        <identifiers>
          <isin value="US3615701048"/>
          <ticker value="GDL"/>
        </identifiers>
        <balance>78751.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>659145.870000000000</valUSD>
        <pctVal>0.4922841704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Investcorp Credit Management B</name>
        <lei>549300ZRNRCSKPLGYQ55</lei>
        <title>Investcorp Credit Management BDC Inc</title>
        <cusip>46090R104</cusip>
        <identifiers>
          <isin value="US46090R1041"/>
          <ticker value="ICMB"/>
        </identifiers>
        <balance>131169.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>425000.680000000000</valUSD>
        <pctVal>0.3174124525</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Horizon Kinetics Spac Active E</name>
        <lei>549300AI8RU2XFLJZ173</lei>
        <title>Horizon Kinetics Spac Active ETF</title>
        <cusip>53656G555</cusip>
        <identifiers>
          <isin value="US53656G5559"/>
          <ticker value="SPAQ"/>
        </identifiers>
        <balance>4700.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>468174.520000000000</valUSD>
        <pctVal>0.3496569055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ai Transportation Acquisition</name>
        <lei>N/A</lei>
        <title>Ai Transportation Acquisition Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG014901048"/>
          <ticker value="AITRR"/>
        </identifiers>
        <balance>10000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1550.000000000000</valUSD>
        <pctVal>0.0011576200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Churchill Capital Corp IX</name>
        <lei>N/A</lei>
        <title>Churchill Capital Corp IX</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG213011094"/>
          <ticker value="CCIX"/>
        </identifiers>
        <balance>2444.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25710.880000000000</valUSD>
        <pctVal>0.0192022128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANDRETTI ACQUISITION CORP -A</name>
        <lei>N/A</lei>
        <title>Andretti Acquisition Corp II</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG267451287"/>
          <ticker value="POLEW"/>
        </identifiers>
        <balance>25000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4000.000000000000</valUSD>
        <pctVal>0.0029874065</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>NASDAQ GM</counterpartyName>
              <counterpartyLei>549300L8X1Q78ERXFD06</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Andretti Acquisition Corp II</issuerName>
                <issueTitle>Andretti Acquisition Corp II</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="KYG267451022"/>
                  <ticker value="POLE"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.000000000000</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2029-10-24</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>2372.150000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dynamix Corp</name>
        <lei>N/A</lei>
        <title>Dynamix Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2949D1043"/>
          <ticker value="DYNX"/>
        </identifiers>
        <balance>105820.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1043565.090000000000</valUSD>
        <pctVal>0.7793882932</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-04-25</ncom:dateSigned>
      <ncom:nameOfApplicant>High Income Securities Fund</ncom:nameOfApplicant>
      <ncom:signature>Andrew Dakos</ncom:signature>
      <ncom:signerName>/s/ Andrew Dakos</ncom:signerName>
      <ncom:title>President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
