# EDGAR Filing Document

**Accession Number:** 0001830974
**File Stem:** 0001193125-25-299913
**Filing Date:** 2025-11
**Character Count:** 12795
**Document Hash:** 69a1b38261041a71c4c671919a4ec361
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-299913.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001193125-25-299913

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Aspiriant Capital Appreciation Fund
- **CENTRAL INDEX KEY:** 0001830974

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23619
- **FILM NUMBER:** 251528581

**BUSINESS ADDRESS:**
- **STREET 1:** C/O UMB FUND SERVICES, INC.
- **STREET 2:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53201
- **BUSINESS PHONE:** 414-299-2200

**MAIL ADDRESS:**
- **STREET 1:** C/O UMB FUND SERVICES, INC.
- **STREET 2:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Aspiriant Risk-Managed Capital Appreciation Fund
- **DATE OF NAME CHANGE:** 20250723

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ASPIRIANT CAPITAL APPRECIATION FUND
- **DATE OF NAME CHANGE:** 20250718

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ASPIRIANT RISK-MANAGED CAPITAL APPRECIATION FUND
- **DATE OF NAME CHANGE:** 20201103

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Aspiriant Capital Appreciation Fund

- **b. Investment Company Act file number:** 811-23619

- **c. CIK number of Registrant:** 0001830974

- **d. LEI of Registrant:** 254900BEES5GJ4776782

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 235 West Galena Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53212

  - **Telephone number:** 4142992270

**Item A.2. Information about the Series.**

- **a. Name of Series:** Aspiriant Capital Appreciation Fund

- **c. LEI of Series:** 254900BEES5GJ4776782

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $150541561.21

**Total Liabilities:** $3672302.30

**Net Assets:** $146869258.91

**Cash Not Reported:** $1207172.18

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.00%                | 0.00%                | 6.15%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $0.00                                      |
| Month 3  | $916437.92               | $8057451.80                                |

### Schedule of Portfolio Investments

| Name                                    | Title                                                    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| American Funds New Perspective Fund     | American Funds New Perspective Fund F-3                  | CUSIP: 648018778<br>LEI: MVJJ5XRND2TZ5KBTXC77 | Long             |  | RF                | US        |    162106 | NS      | $11945571.32  | 8.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Black River Capital Partners Fund LP    | Black River Capital Partners Fund (Food) LP              | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   1533521 | OU      | $1533521.47   | 1.04%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Blackstone Life Sciences L.P.           | Blackstone Life Sciences V L.P.                          | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   6331087 | OU      | $6331087.25   | 4.31%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Coatue Qualified Partners, LP           | Coatue Qualified Partners, LP                            | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |  10177888 | OU      | $10177887.54  | 6.93%             |  |  |  | Yes           | N/A                | On Loan: No      |
| DFA Global Equity Portfolio             | DFA Global Equity Portfolio I                            | CUSIP: 25434D674<br>LEI: N/A                  | Long             |  | RF                | US        |    310977 | NS      | $12193400.38  | 8.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Gavea Investment Fund L.P.              | Gavea Investment Fund IV-A L.P.                          | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | BR        |    230674 | OU      | $230674.00    | 0.16%             |  |  |  | Yes           | N/A                | On Loan: No      |
| GMO Quality                             | GMO Quality VI                                           | CUSIP: 362008229<br>LEI: 549300AFPJUDV7V43T32 | Long             |  | RF                | US        |    327563 | NS      | $11752968.00  | 8.00%             |  |  |  | No            | 1                  | On Loan: No      |
| GMO Quality                             | GMO Quality VI                                           | CUSIP: 362008229<br>LEI: 549300AFPJUDV7V43T32 | Long             |  | RF                | US        |     27062 | NS      | $970972.00    | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs Vintage Fund              | Goldman Sachs Vintage Fund V                             | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |     32682 | OU      | $32682.36     | 0.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Goldman Sachs FS Govt #466              | Goldman Sachs FS Govt #466                               | CUSIP: 38141W265<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             |  | US        |   2336148 | PA      | $2336147.59   | 1.59%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares MSCI ACWI ETF                   | iShares MSCI ACWI ETF                                    | CUSIP: 464288257<br>LEI: 549300KZ2WFTI4GQ7M77 | Long             |  | RF                | US        |     22669 | NS      | $3133762.56   | 2.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Industry Ventures Secondary, L.P.       | Industry Ventures Secondary X, L.P.                      | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   1531393 | OU      | $1531393.37   | 1.04%             |  |  |  | Yes           | N/A                | On Loan: No      |
| J. Goldman, L.P.                        | J. Goldman, L.P.                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   1024305 | OU      | $1024305.08   | 0.70%             |  |  |  | Yes           | N/A                | On Loan: No      |
| New Mountain Partners, L.P.             | New Mountain Partners III, L.P.                          | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |    195058 | OU      | $195058.00    | 0.13%             |  |  |  | Yes           | N/A                | On Loan: No      |
| KEPE Selling Fund, L.P.                 | KEPE Selling Fund II, L.P.                               | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |    166685 | OU      | $166685.00    | 0.11%             |  |  |  | Yes           | N/A                | On Loan: No      |
| New Mountain Partners, L.P.             | New Mountain Partners VII, L.P.                          | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   2892216 | OU      | $2892216.30   | 1.97%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Oaktree Opportunities Fund, L.P.        | Oaktree Opportunities Fund X, L.P.                       | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   1128887 | OU      | $1128887.00   | 0.77%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Oaktree Opportunities Fund, L.P.        | Oaktree Opportunities Fund Xb, L.P.                      | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   8298168 | OU      | $8298168.00   | 5.65%             |  |  |  | Yes           | N/A                | On Loan: No      |
| RA Capital Healthcare Fund, L.P.        | RA Capital Healthcare Fund, L.P.                         | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |  12916090 | OU      | $12916089.90  | 8.79%             |  |  |  | Yes           | N/A                | On Loan: No      |
| RA Capital Nexus Fund, L.P.             | RA Capital Nexus Fund III, L.P.                          | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   2869033 | OU      | $2869033.49   | 1.95%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Revolution Ventures, LP                 | Revolution Ventures II, LP                               | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   3121454 | OU      | $3121454.00   | 2.13%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Stripes, LP                             | Stripes V, LP                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |  14003871 | OU      | $14003871.00  | 9.53%             |  |  |  | Yes           | N/A                | On Loan: No      |
| The Children's Investment Fund, L.P.    | The Children's Investment Fund, L.P.                     | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |  12362957 | OU      | $12362957.16  | 8.42%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Viking Global Opportunities LP          | Viking Global Opportunities LP                           | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |  14758935 | OU      | $14758935.00  | 10.05%            |  |  |  | Yes           | N/A                | On Loan: No      |
| Adams Street Partnership Fund, L.P.     | Adams Street Partnership Fund - 2008 Non-U.S. Fund, L.P. | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |     57645 | OU      | $57645.00     | 0.04%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Accolade Partners, L.P.                 | Accolade Partners VII-C, L.P.                            | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   1755126 | OU      | $1755125.52   | 1.20%             |  |  |  | Yes           | N/A                | On Loan: No      |
| AQR Delphi Long-Short Equity Fund, L.P. | AQR Delphi Long-Short Equity Fund, L.P.                  | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |  11370295 | OU      | $11370295.00  | 7.74%             |  |  |  | Yes           | N/A                | On Loan: No      |

### Signature

**Date Signed:** 2025-10-28

**Name of Applicant:** Aspiriant Capital Appreciation Fund

**Signature:** /s/ Ben Schmidt

**Name of Signer:** Ben Schmidt

**Title:** President