Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SLRC	SLR INVESTMENT CORP	168,000	$2.078M	2.5%	$12.37	—	COM	83413U100
—	TORTOISE ENERGY INFRSTRCTR C	44,800	$1.921M	2.3%	$42.87	—	COM	89147L886
BXMT	BLACKSTONE MORTGAGE TRUST IN	106,400	$1.803M	2.2%	$16.95	—	COM CL A	09257W100
—	NUVEEN FLOATING RATE INCOME	222,501	$1.707M	2.0%	$7.67	—	COM	67072T108
—	VIRTUS DIVIDEND INTEREST & P	89,387	$1.358M	1.6%	$15.19	—	COM	92840R101
—	NUVEEN MUN HIGH INCOME OPPOR	89,600	$947K	1.1%	$10.57	—	COM	670682103
—	NUVEEN CR STRATEGIES INCOME	74,901	$364K	0.4%	$4.86	—	COM SHS	67073D102
—	JAPAN SMALLER CAPITALIZATION	10,000	$118K	0.1%	$11.78	—	COM	47109U104

Increased Positions (14)

— FS SPECIALTY LENDING FD 10.9%

Value $9.116M (+191.5%) Shares 817,600 (+227.0%) Est. Cost $11.84 Unrealized —

CGBD CARLYLE SECURED LENDING INC 7.8%

Value $6.486M (+53.0%) Shares 616,000 (+59.0%) Est. Cost $11.77 Unrealized —

MRP MILLROSE PPTYS INC 6.5%

Value $5.385M (+47.9%) Shares 179,200 (+37.8%) Est. Cost $29.89 Unrealized —

CCAP CRESCENT CAP BDC INC 6.8%

Value $5.687M (+38.1%) Shares 520,800 (+53.7%) Est. Cost $12.87 Unrealized —

— CLOUGH GLOBAL OPPORTUNITIES 5.3%

Value $4.455M (+51.1%) Shares 728,000 (+37.5%) Est. Cost $5.63 Unrealized —

— MEXICO FD INC 3.6%

Value $2.982M (+99.6%) Shares 136,348 (+91.0%) Est. Cost $20.91 Unrealized —

MSIF MSC INCOME FUND INC 7.5%

Value $6.22M (+13.8%) Shares 537,600 (+19.8%) Est. Cost $13.85 Unrealized —

OTF BLUE OWL TECHNOLOGY FIN CORP 3.4%

Value $2.872M (+22.8%) Shares 277,467 (+47.1%) Est. Cost $12.96 Unrealized —

— CLOUGH GLOBAL EQUITY FD 0.9%

Value $768K (+186.9%) Shares 89,094 (+150.6%) Est. Cost $7.82 Unrealized —

AOMR ANGEL OAK MORTGAGE REIT INC 1.8%

Value $1.492M (+33.1%) Shares 164,369 (+20.5%) Est. Cost $9.31 Unrealized —

— CLOUGH GLOBAL DIVID & INCOME 0.7%

Value $608K (+116.7%) Shares 91,500 (+93.2%) Est. Cost $6.02 Unrealized —

ACRE ARES COML REAL ESTATE CORP 6.7%

Value $5.544M (+3.1%) Shares 1,232,000 (+10.0%) Est. Cost $4.57 Unrealized —

— HIGHLAND OPPS & INCOME FD 0.2%

Value $176K (+39.9%) Shares 24,731 (+12.0%) Est. Cost $5.40 Unrealized —

ICMB INVESTCORP CR MGMT BDC INC 0.0%

Value $32,760 (-20.3%) Shares 28,000 (+10.3%) Est. Cost $2.68 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	FS SPECIALTY LENDING FD	817,600 (+227.0%)	$9.116M (+191.5%)	10.9%	$11.84	—	COM SH BEN INT	644323107
CGBD	CARLYLE SECURED LENDING INC	616,000 (+59.0%)	$6.486M (+53.0%)	7.8%	$11.77	—	COM	872280102
MRP	MILLROSE PPTYS INC	179,200 (+37.8%)	$5.385M (+47.9%)	6.5%	$29.89	—	COM CL A	601137102
CCAP	CRESCENT CAP BDC INC	520,800 (+53.7%)	$5.687M (+38.1%)	6.8%	$12.87	—	COM	225655109
—	CLOUGH GLOBAL OPPORTUNITIES	728,000 (+37.5%)	$4.455M (+51.1%)	5.3%	$5.63	—	SH BEN INT	18914E106
—	MEXICO FD INC	136,348 (+91.0%)	$2.982M (+99.6%)	3.6%	$20.91	—	COM	592835102
MSIF	MSC INCOME FUND INC	537,600 (+19.8%)	$6.22M (+13.8%)	7.5%	$13.85	—	COM	55374X208
OTF	BLUE OWL TECHNOLOGY FIN CORP	277,467 (+47.1%)	$2.872M (+22.8%)	3.4%	$12.96	—	COMMON STOCK	095924106
—	CLOUGH GLOBAL EQUITY FD	89,094 (+150.6%)	$768K (+186.9%)	0.9%	$7.82	—	COM	18914C100
AOMR	ANGEL OAK MORTGAGE REIT INC	164,369 (+20.5%)	$1.492M (+33.1%)	1.8%	$9.31	—	COM	03464Y108
—	CLOUGH GLOBAL DIVID & INCOME	91,500 (+93.2%)	$608K (+116.7%)	0.7%	$6.02	—	COM	18913Y103
ACRE	ARES COML REAL ESTATE CORP	1,232,000 (+10.0%)	$5.544M (+3.1%)	6.7%	$4.57	—	COM	04013V108
—	HIGHLAND OPPS & INCOME FD	24,731 (+12.0%)	$176K (+39.9%)	0.2%	$5.40	—	HIGHLAND INCOME	43010E404
ICMB	INVESTCORP CR MGMT BDC INC	28,000 (+10.3%)	$32,760 (-20.3%)	0.0%	$2.68	—	COM	46090R104

Exited Positions (15)

GBDC GOLUB CAP BDC INC 7.3%

Value $6.063M Shares 478,894 Est. Cost $13.46 Unrealized —

TCPC BLACKROCK TCP CAPITAL CORP 3.7%

Value $3.068M Shares 850,000 Est. Cost $6.55 Unrealized —

— NUVEEN AMT FREE MUN CR INC F 1.7%

Value $1.398M Shares 113,390 Est. Cost $12.31 Unrealized —

— NUVEEN PA INVT QUALITY MUN F 1.2%

Value $1.015M Shares 85,044 Est. Cost $11.56 Unrealized —

— NUVEEN NEW JERSEY 0.9%

Value $770K Shares 62,639 Est. Cost $12.26 Unrealized —

BXSL BLACKSTONE SECD LENDING FD 0.8%

Value $641K Shares 27,041 Est. Cost $25.46 Unrealized —

— INVESCO PA VALUE MUN INC TR 0.6%

Value $526K Shares 49,775 Est. Cost $10.24 Unrealized —

CION CION INVT CORP 0.6%

Value $513K Shares 75,000 Est. Cost $9.49 Unrealized —

— ABRDN INCOME CREDIT STRATEGI 0.6%

Value $510K Shares 100,000 Est. Cost $5.91 Unrealized —

ARCC ARES CAPITAL CORP 0.4%

Value $320K Shares 17,757 Est. Cost $20.01 Unrealized —

— TOTAL RETURN SECURITIES FUND 0.3%

Value $282K Shares 47,591 Est. Cost $6.23 Unrealized —

ARI APOLLO COML REAL ESTATE FIN 0.3%

Value $264K Shares 25,000 Est. Cost $9.68 Unrealized —

FSK FS KKR CAP CORP 0.3%

Value $255K Shares 25,000 Est. Cost $16.59 Unrealized —

OXLC OXFORD LANE CAP CORP 0.3%

Value $245K Shares 25,000 Est. Cost $15.21 Unrealized —

NMFC NEW MTN FIN CORP 0.2%

Value $194K Shares 25,000 Est. Cost $8.66 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GBDC	GOLUB CAP BDC INC	478,894	$6.063M	7.3%	$13.46	—	—	38173M102
TCPC	BLACKROCK TCP CAPITAL CORP	850,000	$3.068M	3.7%	$6.55	—	—	09259E108
—	NUVEEN AMT FREE MUN CR INC F	113,390	$1.398M	1.7%	$12.31	—	—	67071L106
—	NUVEEN PA INVT QUALITY MUN F	85,044	$1.015M	1.2%	$11.56	—	—	670972108
—	NUVEEN NEW JERSEY	62,639	$770K	0.9%	$12.26	—	—	67069Y102
BXSL	BLACKSTONE SECD LENDING FD	27,041	$641K	0.8%	$25.46	—	—	09261X102
—	INVESCO PA VALUE MUN INC TR	49,775	$526K	0.6%	$10.24	—	—	46132K109
CION	CION INVT CORP	75,000	$513K	0.6%	$9.49	—	—	17259U204
—	ABRDN INCOME CREDIT STRATEGI	100,000	$510K	0.6%	$5.91	—	—	003057106
ARCC	ARES CAPITAL CORP	17,757	$320K	0.4%	$20.01	—	—	04010L103
—	TOTAL RETURN SECURITIES FUND	47,591	$282K	0.3%	$6.23	—	—	870875101
ARI	APOLLO COML REAL ESTATE FIN	25,000	$264K	0.3%	$9.68	—	—	03762U105
FSK	FS KKR CAP CORP	25,000	$255K	0.3%	$16.59	—	—	302635206
OXLC	OXFORD LANE CAP CORP	25,000	$245K	0.3%	$15.21	—	—	691543847
NMFC	NEW MTN FIN CORP	25,000	$194K	0.2%	$8.66	—	—	647551100

Decreased Positions (11)

BRSP BRIGHTSPIRE CAPITAL INC 7.1%

Value $5.951M (-33.6%) Shares 1,092,000 (-31.8%) Est. Cost $5.41 Unrealized —

RWAY RUNWAY GROWTH FINANCE CORP 4.9%

Value $4.084M (-38.2%) Shares 728,000 (-24.3%) Est. Cost $9.38 Unrealized —

— FS CREDIT OPPORTUNITIES CORP 0.5%

Value $447K (-83.3%) Shares 89,600 (-82.9%) Est. Cost $5.16 Unrealized —

BCSF BAIN CAP SPECIALTY FIN INC 3.4%

Value $2.804M (-32.3%) Shares 224,000 (-32.9%) Est. Cost $13.56 Unrealized —

— BLACKROCK ESG CAP ALLC TERM 0.5%

Value $440K (-67.6%) Shares 28,000 (-72.0%) Est. Cost $15.98 Unrealized —

GLAD GLADSTONE CAP CORP 2.5%

Value $2.045M (-17.5%) Shares 105,280 (-26.3%) Est. Cost $19.70 Unrealized —

— SABA CAPITAL INCOME & OPRNT 0.4%

Value $368K (-42.2%) Shares 56,000 (-40.7%) Est. Cost $7.35 Unrealized —

— DESTRA MULTI-ALTERNATIVE FD 0.3%

Value $224K (-49.7%) Shares 30,000 (-45.5%) Est. Cost $8.72 Unrealized —

— NUVEEN NY AMT FREE 4.2%

Value $3.47M (-4.1%) Shares 323,680 (-8.7%) Est. Cost $10.31 Unrealized —

— INVESCO QUALITY MUN INCOME T 1.5%

Value $1.215M (-3.2%) Shares 120,018 (-8.0%) Est. Cost $9.86 Unrealized —

— FEDERATED HERMES PREM MUNI I 0.2%

Value $182K (-2.3%) Shares 15,818 (-7.1%) Est. Cost $10.98 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRSP	BRIGHTSPIRE CAPITAL INC	1,092,000 (-31.8%)	$5.951M (-33.6%)	7.1%	$5.41	—	COM CL A	10949T109
RWAY	RUNWAY GROWTH FINANCE CORP	728,000 (-24.3%)	$4.084M (-38.2%)	4.9%	$9.38	—	COM	78163D100
—	FS CREDIT OPPORTUNITIES CORP	89,600 (-82.9%)	$447K (-83.3%)	0.5%	$5.16	—	COMMON STOCK	30290Y101
BCSF	BAIN CAP SPECIALTY FIN INC	224,000 (-32.9%)	$2.804M (-32.3%)	3.4%	$13.56	—	COM STK	05684B107
—	BLACKROCK ESG CAP ALLC TERM	28,000 (-72.0%)	$440K (-67.6%)	0.5%	$15.98	—	SHS BEN INT	09262F100
GLAD	GLADSTONE CAP CORP	105,280 (-26.3%)	$2.045M (-17.5%)	2.5%	$19.70	—	COM NEW	376535878
—	SABA CAPITAL INCOME & OPRNT	56,000 (-40.7%)	$368K (-42.2%)	0.4%	$7.35	—	SHS NEW	78518H202
—	DESTRA MULTI-ALTERNATIVE FD	30,000 (-45.5%)	$224K (-49.7%)	0.3%	$8.72	—	COMMON SHARES	25065A502
—	NUVEEN NY AMT FREE	323,680 (-8.7%)	$3.47M (-4.1%)	4.2%	$10.31	—	COM	670656107
—	INVESCO QUALITY MUN INCOME T	120,018 (-8.0%)	$1.215M (-3.2%)	1.5%	$9.86	—	COM	46133G107
—	FEDERATED HERMES PREM MUNI I	15,818 (-7.1%)	$182K (-2.3%)	0.2%	$10.98	—	COM	31423P108