An unducted thrust producing system is provided that can include a rotating element having an axis of rotation about a central longitudinal axis and comprising a plurality of blades attached to a spinner; a stationary element positioned aft of the rotating element; and an inlet positioned between the rotating element and the stationary element such that the inlet passes radially inward of the stationary element. The rotating element defines an annular valley positioned between a first annular crown and a second annular crown, and the inlet defines an open area positioned aft of the second annular crown.