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        <fairValLevel>N/A</fairValLevel>
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        <name>Luxor Capital Partners Offshore Liquidating SPV, Ltd.</name>
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        <fairValLevel>N/A</fairValLevel>
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        <fairValLevel>N/A</fairValLevel>
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          <other otherDesc="Internal Identifier" value="188892"/>
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        <fairValLevel>N/A</fairValLevel>
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        <name>King Street Capital, Ltd.</name>
        <lei>XVDX16GZFAZQ16VF2W85</lei>
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          <other otherDesc="Internal Identifier" value="199431"/>
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        <lei>XVDX16GZFAZQ16VF2W85</lei>
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        <lei>XVDX16GZFAZQ16VF2W85</lei>
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        <lei>XVDX16GZFAZQ16VF2W85</lei>
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        <name>King Street Capital, Ltd.</name>
        <lei>XVDX16GZFAZQ16VF2W85</lei>
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        <name>King Street Capital, Ltd.</name>
        <lei>XVDX16GZFAZQ16VF2W85</lei>
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          <other otherDesc="Internal Identifier" value="215602"/>
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        <fairValLevel>N/A</fairValLevel>
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        <name>King Street Capital, Ltd.</name>
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          <other otherDesc="Internal Identifier" value="215603"/>
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        <fairValLevel>N/A</fairValLevel>
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        <name>The Children's Investment Fund</name>
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          <other otherDesc="Internal Identifier" value="217824"/>
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        <fairValLevel>N/A</fairValLevel>
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        <name>Think Investments Offshore Ltd.</name>
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          <other otherDesc="Internal Identifier" value="247975"/>
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        <fairValLevel>N/A</fairValLevel>
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        <name>Lion Point International, Ltd.</name>
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          <other otherDesc="Internal Identifier" value="252135"/>
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        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>Lion Point International, Ltd.</name>
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          <other otherDesc="Internal Identifier" value="252136"/>
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        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>Lion Point International, Ltd.</name>
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          <other otherDesc="Internal Identifier" value="252137"/>
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        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>Lion Point International, Ltd.</name>
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          <other otherDesc="Internal Identifier" value="252138"/>
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        <fairValLevel>N/A</fairValLevel>
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        <name>Janchor Partners Pan-Asian Fund</name>
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        <title>Janchor Partners Pan-Asian Fund - Class DI Shares - Series B UR/174 - ABMMAF</title>
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          <other otherDesc="Internal Identifier" value="260920"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>Janchor Partners Pan-Asian Fund</name>
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        <title>Janchor Partners Pan-Asian Fund - Class DI Shares - Series B UR/214 - ABMMAF</title>
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          <other otherDesc="Internal Identifier" value="260921"/>
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        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>Janchor Partners Pan-Asian Fund</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>Janchor Partners Pan-Asian Fund - Class DI Shares - Series B UR/218 - ABMMAF</title>
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          <other otherDesc="Internal Identifier" value="260922"/>
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        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>Janchor Partners Pan-Asian Fund</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>Janchor Partners Pan-Asian Fund - Class DI Shares - Series D UR/54 - ABMMAF</title>
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          <other otherDesc="Internal Identifier" value="260923"/>
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        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>Point72 Capital International, Ltd.</name>
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        <title>Point72 Capital International, Ltd - Class A-n - Series 18-02 - ABMMAF</title>
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          <other otherDesc="Internal Identifier" value="264625"/>
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        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>Elliott International Limited</name>
        <lei>N/A</lei>
        <title>Elliott International Limited - - B Common Shares</title>
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          <other otherDesc="Internal Identifier" value="268653"/>
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        <balance>41391.35000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
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        <name>TCIM Offshore Fund Ltd.</name>
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        <title>TCIM Offshore Fund Ltd. - A - 129-0723 - ABMMAF</title>
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          <other otherDesc="Internal Identifier" value="276460"/>
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        <fairValLevel>N/A</fairValLevel>
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        <name>Cross Ocean GSS Offshore Feeder LP</name>
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        <title>Cross Ocean GSS Offshore Feeder LP - HFwCC - Institutional class - ABMMAF</title>
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          <other otherDesc="Internal Identifier" value="281437"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
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        <name>Anomaly Capital International, Ltd.</name>
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        <title>Anomaly Capital International, Ltd. - Class C - Sub Series E - 01-2024 - ABMMAF</title>
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          <other otherDesc="Internal Identifier" value="290450"/>
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        <invCountry>KY</invCountry>
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        <name>Antara Capital Offshore Fund Ltd.</name>
        <lei>N/A</lei>
        <title>Antara Capital Offshore Fund Ltd - Series I Shares A - Side Pocket - Series 5 September 2021 - ABMMAF</title>
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          <other otherDesc="Internal Identifier" value="297345"/>
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      <invstOrSec>
        <name>Antara Capital Offshore Fund Ltd.</name>
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        <title>Antara Capital Offshore Fund Ltd - Series I Shares A - Side Pocket - Series 2 June 2021 - ABMMAF</title>
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        <name>Antara Capital Offshore Fund Ltd.</name>
        <lei>N/A</lei>
        <title>Antara Capital Offshore Fund Ltd - Series I Shares A - Side Pocket - Series 14 August 2022 - ABMMAF</title>
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          <other otherDesc="Internal Identifier" value="297347"/>
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        <name>Atlas Enhanced Fund, Ltd.</name>
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        <title>Atlas Enhanced Fund, Ltd - Class L-C-1 - Series 02-22 - ABMMAF</title>
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          <other otherDesc="Internal Identifier" value="297450"/>
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        <name>Viking Global Equities III Ltd.</name>
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        <title>Viking Global Equities III Ltd. - Class L - Series 1E -- ABMMAF</title>
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          <other otherDesc="Internal Identifier" value="311732"/>
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        <name>Primas Global Credit Fund</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal Identifier" value="311939"/>
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        <fairValLevel>N/A</fairValLevel>
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        <name>Trium Khartes Fund Limited</name>
        <lei>N/A</lei>
        <title>Trium Khartes Fund Limited - I Shares Unrestricted - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="311940"/>
        </identifiers>
        <balance>305226.99000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36178845.35000000</valUSD>
        <pctVal>3.293026397332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Astaris Special Situations Feeder Fund Limited</name>
        <lei>N/A</lei>
        <title>Astaris Special Situations Feeder Fund Limited - Class A USD - Unrestricted Non Voting - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="311941"/>
        </identifiers>
        <balance>203937.11000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>45554094.29000000</valUSD>
        <pctVal>4.146368784087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Theorem Prime Yield Fund Offshore LP</name>
        <lei>N/A</lei>
        <title>Theorem Prime Yield Fund Offshore LP - Class A(W)-Q2-AB - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="328891"/>
        </identifiers>
        <balance>2786.97000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2544588.40000000</valUSD>
        <pctVal>0.231610398023</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SurgoCap Offshore Fund LP</name>
        <lei>N/A</lei>
        <title>SurgoCap Offshore Fund LP - Class A-1 OPT OUT Interests - - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="334093"/>
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        <balance>35885.59000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43348525.00000000</valUSD>
        <pctVal>3.945616166836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Alphadyne Global Rates Fund II, Ltd.</name>
        <lei>N/A</lei>
        <title>Alphadyne Global Rates Fund II, Ltd. - Class 6A USD - Series 1 - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="350002"/>
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        <balance>23689.76000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35634513.00000000</valUSD>
        <pctVal>3.243480847160</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wolf Hill Offshore Fund, Ltd.</name>
        <lei>N/A</lei>
        <title>Wolf Hill Offshore Fund, Ltd. - Class A 5 OS NR - Series047Dec2022 - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="351602"/>
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        <balance>16577.60000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17747113.00000000</valUSD>
        <pctVal>1.615355908130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Aleutian Fund,Ltd.</name>
        <lei>N/A</lei>
        <title>Aleutian Fund,Ltd. - Series 3 Unrestricted - 14-218076-000128 - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="360731"/>
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        <balance>21000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28129762.50000000</valUSD>
        <pctVal>2.560392670552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Claren Road Credit Fund, Ltd</name>
        <lei>N/A</lei>
        <title>Claren Road Credit Fund, Ltd - (AB) - Class A-2 Shares - Series 0525- ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="367900"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5068942.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aleutian Fund,Ltd.</name>
        <lei>N/A</lei>
        <title>Aleutian Fund,Ltd. - Series 3 Unrestricted - 14-218076-000143 - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="372556"/>
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        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5855021.50000000</valUSD>
        <pctVal>0.532928571100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aleutian Fund,Ltd.</name>
        <lei>N/A</lei>
        <title>Aleutian Fund,Ltd. - Series 3 Unrestricted - 14-218076-000154 - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="378543"/>
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        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5377782.00000000</valUSD>
        <pctVal>0.489489863863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aleutian Fund, Ltd.</name>
        <lei>N/A</lei>
        <title>Aleutian Fund,Ltd. - Series 3 Unrestricted - 14-218076-000165 - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="382328"/>
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        <balance>6000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5994511.20000000</valUSD>
        <pctVal>0.545625031140</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FourSixThree Overseas Fund, Ltd.</name>
        <lei>N/A</lei>
        <title>FourSixThree Overseas Fund, Ltd. - Class D - 2025-12 - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="385247"/>
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        <balance>33000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33743835.39000000</valUSD>
        <pctVal>3.071389913402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chepstow Credit Opportunities Fund</name>
        <lei>N/A</lei>
        <title>Chepstow Credit Opportunities Fund - Class AUN-4 Unres - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="389789"/>
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        <balance>3000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2932701.91000000</valUSD>
        <pctVal>0.266936788935</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chepstow Credit Opportunities Fund</name>
        <lei>N/A</lei>
        <title>Chepstow Credit Opportunities Fund - Class AUN-1 Unres - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="390142"/>
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        <balance>27644.13000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28517841.31000000</valUSD>
        <pctVal>2.595715903044</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Point72 Capital International, Ltd</name>
        <lei>N/A</lei>
        <title>Point72 Capital International, Ltd - Class A-n - Series 26-01 - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="390270"/>
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        <balance>40000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4152366.62000000</valUSD>
        <pctVal>0.377951611191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Primas Global Credit Fund</name>
        <lei>N/A</lei>
        <title>Primas Global Credit Fund - SUB-Class B shares Prohibited/Unrestricted - US - Series 01-2026 - ABMMA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="390633"/>
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        <balance>1764.54000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1767599.83000000</valUSD>
        <pctVal>0.160888299330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rokos Global Macro Fund Limited</name>
        <lei>N/A</lei>
        <title>Rokos Global Macro Fund Limited - Class B UR - Series 34 - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="392355"/>
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        <balance>5670.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>591166.73000000</valUSD>
        <pctVal>0.053808451549</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rokos Global Macro Fund Limited</name>
        <lei>N/A</lei>
        <title>Rokos Global Macro Fund Limited - Class B UR  - Series 01 -ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="392371"/>
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        <balance>71966.65000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24084709.73000000</valUSD>
        <pctVal>2.192208848726</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Caxton Macro Limited</name>
        <lei>N/A</lei>
        <title>Caxton Macro Limited - Class M (Unrestricted) Shares - D (01-2018) S2- ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="392732"/>
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        <balance>8781.73000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27151493.05000000</valUSD>
        <pctVal>2.471349830976</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>VG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Whitebox Multi-Strategy Fund, Ltd.</name>
        <lei>N/A</lei>
        <title>Whitebox Multi-Strategy Fund, Ltd. - Class C Shares - 33-1 - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="392857"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21600782.51000000</valUSD>
        <pctVal>1.966119878076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>VG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FourSixThree Overseas Fund, Ltd.</name>
        <lei>N/A</lei>
        <title>FourSixThree Overseas Fund, Ltd. - Class D - 2026-03 - ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="394718"/>
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        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4989852.47000000</valUSD>
        <pctVal>0.454180218952</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Millennium International, Ltd.</name>
        <lei>N/A</lei>
        <title>Millennium International, Ltd. - Class GG - Series 01A -  ABMMAF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="394781"/>
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        <balance>29218.65000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>71002192.23000000</valUSD>
        <pctVal>6.462674278848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Merrill Lynch International Bank Ltd.</name>
        <lei>EYKN6V0ZCB8VD9IULB80</lei>
        <title>MLABHPLO SWAP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="258404"/>
        </identifiers>
        <balance>157025.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-796111.69000000</valUSD>
        <pctVal>-0.07246269981</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Merrill Lynch International Bank Ltd.</counterpartyName>
              <counterpartyLei>EYKN6V0ZCB8VD9IULB80</counterpartyLei>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>MLABHPLO</indexName>
                <indexIdentifier>MLABHPLO</indexIdentifier>
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                  <component>
                    <othIndName>Aena SME SA_AENA</othIndName>
                    <identifiers>
                      <ticker value="AENA SQ Eq_L"/>
                    </identifiers>
                    <othIndNotAmt>18646.10000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>548272.48000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Airbus SE_AIR</othIndName>
                    <identifiers>
                      <ticker value="AIR FP Equ_L"/>
                    </identifiers>
                    <othIndNotAmt>8819.17000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>1634163.79000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Alphabet Inc_GOOG</othIndName>
                    <identifiers>
                      <ticker value="GOOG UW Eq_L"/>
                    </identifiers>
                    <othIndNotAmt>2402.84000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>689279.68000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Canadian National Railway Co_CNR</othIndName>
                    <identifiers>
                      <ticker value="CNR CT Equ_L"/>
                    </identifiers>
                    <othIndNotAmt>2155.07000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>221105.14000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Canadian Pacific Kansas City L_CP</othIndName>
                    <identifiers>
                      <ticker value="CP UN Equi_L"/>
                    </identifiers>
                    <othIndNotAmt>9786.06000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>769771.76000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Cellnex Telecom SA_CLNX</othIndName>
                    <identifiers>
                      <ticker value="CLNX SQ Eq_L"/>
                    </identifiers>
                    <othIndNotAmt>13574.22000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>433703.08000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Ferrovial SE_FER</othIndName>
                    <identifiers>
                      <ticker value="FER SQ Equ_L"/>
                    </identifiers>
                    <othIndNotAmt>20492.26000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>1308531.69000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>General Electric Co_GE</othIndName>
                    <identifiers>
                      <ticker value="GE UN Equi_L"/>
                    </identifiers>
                    <othIndNotAmt>10160.56000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>2883263.33000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Microsoft Corp_MSFT</othIndName>
                    <identifiers>
                      <ticker value="MSFT UW Eq_L"/>
                    </identifiers>
                    <othIndNotAmt>900.56000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>333361.84000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Moody's Corp_MCO</othIndName>
                    <identifiers>
                      <ticker value="MCO UN Equ_L"/>
                    </identifiers>
                    <othIndNotAmt>3081.30000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>1344216.74000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>S&amp;P Global Inc_SPGI</othIndName>
                    <identifiers>
                      <ticker value="SPGI UN Eq_L"/>
                    </identifiers>
                    <othIndNotAmt>2824.17000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>1201233.56000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>SAP SE_SAP</othIndName>
                    <identifiers>
                      <ticker value="SAP GY Equ_L"/>
                    </identifiers>
                    <othIndNotAmt>1757.53000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>297476.35000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Safran SA_SAF</othIndName>
                    <identifiers>
                      <ticker value="SAF FP Equ_L"/>
                    </identifiers>
                    <othIndNotAmt>7921.59000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>2550154.03000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Vinci SA_DG</othIndName>
                    <identifiers>
                      <ticker value="DG FP Equi_L"/>
                    </identifiers>
                    <othIndNotAmt>11113.02000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>1643447.02000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Visa Inc_V</othIndName>
                    <identifiers>
                      <ticker value="V UN Equit_L"/>
                    </identifiers>
                    <othIndNotAmt>6166.82000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>1863861.01000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                </components>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">equity-performance leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Secured Overnight Financing Rate" floatingRtSpread="0.52000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="1" resetDt="Day" resetDtUnit="1176"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-04-30</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>157025.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-796111.69000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
      <explntrNote note="For the applicable funds using IBOR rates, IBORs are undergoing a change as regulators and industry groups have recommended that firms consider adoption of alternative, overnight risk-free rates (RFRs). Floating rate swap terms reflected as Libors may be using the RFR to calculate the actual rate" noteItem="C.11.f.i.2"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-29</ncom:dateSigned>
      <ncom:nameOfApplicant>AB Multi-Manager Alternative Fund</ncom:nameOfApplicant>
      <ncom:signature>Stephen Woetzel</ncom:signature>
      <ncom:signerName>Stephen Woetzel</ncom:signerName>
      <ncom:title>Controller</ncom:title>
    </signature>
  </formData>
</edgarSubmission>