# EDGAR Filing Document

**Accession Number:** 0001965985
**File Stem:** 0000940400-25-014415
**Filing Date:** 2025-12
**Character Count:** 27049
**Document Hash:** 061ac4ea02143938aae3fb22641b1681
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-014415.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0000940400-25-014415

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Polen Credit Opportunities Fund
- **CENTRAL INDEX KEY:** 0001965985

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23860
- **FILM NUMBER:** 251598755

**BUSINESS ADDRESS:**
- **STREET 1:** 103 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 856-528-3500

**MAIL ADDRESS:**
- **STREET 1:** 103 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Polen Credit Opportunities Fund

- **b. Investment Company Act file number:** 811-23860

- **c. CIK number of Registrant:** 0001965985

- **d. LEI of Registrant:** 5493000LTXEFG2UB7P54

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

  - **Street Address 1:** 103 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 856-528-3500

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

- **a. Name of Series:** Polen Credit Opportunities Fund

- **c. LEI of Series:** 5493000LTXEFG2UB7P54

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-10-31

**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:** $42917620.02

**Total Liabilities:** $3242092.50

**Net Assets:** $39675527.52

**Cash Not Reported:** $2986649.71

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 83.09325000 | **1-Year:** 3495.50814000 | **5-Year:** 4029.28779000 | **10-Year:** 26.52626000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | 0.05%                | -0.37%               | -1.66%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $178501.65               | $-485064.36                                |
| Month 2  | $52998.11                | $-558325.53                                |
| Month 3  | $-294093.96              | $-727707.29                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| OSCAR ACQUISITIONCO LLC                                                | Oscar AcquisitionCo LLC / Oscar Finance Inc                        | CUSIP: 687785AB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2084000 | PA      | $1516368.83   | 3.82%             | 2030-04-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CVET Midco 2 LP                                                        | Covetrus Inc                                                       | CUSIP: 22304EAC0<br>LEI: 5493009S30DUFCF75V87 | Long             | LON              | CORP              | US        |   1932788 | PA      | $1691189.31   | 4.26%             | 2029-10-13      | Floating      | 9.00%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                                 | RR 26 Ltd                                                          | CUSIP: 74989RAJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $991891.00    | 2.50%             | 2038-04-15      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| LaserShip Inc                                                          | LASERSHIP INC                                                      | CUSIP: 51809EAQ8<br>LEI: 254900NGHREGOQUFUT53 | Long             | LON              | CORP              | US        |    708771 | PA      | $191368.06    | 0.48%             | 2029-08-10      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| Plastic Partitions Buyer 1st Lien T/L                                  | Plastic Partitions Buyer 1st Lien T/L                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1330000 | PA      | $1330000.00   | 3.35%             | 2030-12-20      | Fixed         | 12.00%                | No            |                  3 | On Loan: No      |
| JACOBS ENTERTAINMENT INC                                               | Jacobs Entertainment Inc                                           | CUSIP: 469815AK0<br>LEI: 5493004U9JIWY3HSUO63 | Long             | DBT              | CORP              | US        |    320000 | PA      | $310000.00    | 0.78%             | 2029-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DORNOCH DEBT MERGER SUB                                                | Dornoch Debt Merger Sub Inc                                        | CUSIP: 25830JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2055000 | PA      | $1754263.29   | 4.42%             | 2029-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Utex                                                                   | Utex                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2718 | NS      | $152153.64    | 0.38%             |  |  |  | No            |                  3 | On Loan: No      |
| WestStar Tranche B 13 PIK 2030                                         | WestStar Tranche B 13 PIK 2030                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    167968 | PA      | $167967.89    | 0.42%             | 2030-07-25      | Fixed         | 13.00%                | No            |                  3 | On Loan: No      |
| Asurion LLC                                                            | Asurion LLC                                                        | CUSIP: 04649VBA7<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   2246592 | PA      | $2138620.65   | 5.39%             | 2029-01-20      | Floating      | 9.43%                 | No            |                  2 | On Loan: No      |
| First Eagle Holdings Inc-f/k/a Arnhold and S. Bleicroeder Holdings Inc | GC FERRY ACQUISITION I                                             | CUSIP: 32009UAE7<br>LEI: 549300ZKYR56QRODD510 | Long             | LON              | CORP              | US        |    189583 | PA      | $189135.92    | 0.48%             | 2032-08-16      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| SPECIALTY STL HOLDCO INC SR PIK ACR NT 33                              | SPECIALTY STL HOLDCO INC SR PIK ACR NT 33                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    990000 | PA      | $990000.00    | 2.50%             | 2033-11-15      | Fixed         | 12.00%                | No            |                  3 | On Loan: No      |
| NORTHWEST ACQ/DOMINION                                                 | Northwest Acquisitions ULC / Dominion Finco Inc                    | CUSIP: 66727WAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    402000 | PA      | $0.00         | 0.00%             | 2022-11-01      | Fixed         | 7.12%                 | No            |                  3 | On Loan: No      |
| Burgundy Diamond Mines Ltd                                             | Burgundy Diamond Mines Ltd                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    242800 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Sterling Entertainment Enterprises, LLC                                | Sterling Entertainment Enterprises, LLC                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1225303 | PA      | $216878.71    | 0.55%             | 2026-04-10      | Floating      | 17.75%                | Yes           |                  3 | On Loan: No      |
| Arctic Canadian Diamond Company Ltd                                    | ARCTIC CANADIAN DIAMOND 2nd Lien T/L                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     93845 | PA      | $45280.11     | 0.11%             | 2027-12-31      | Fixed         | 10.00%                | No            |                  3 | On Loan: No      |
| IPS/CP Iris Holdco                                                     | CP IRIS HOLDCO I INC                                               | CUSIP: 000000000<br>LEI: 25490024F0AS5UR7DB02 | Long             | LON              | CORP              | US        |   1020000 | PA      | $1009800.00   | 2.55%             | 2032-10-17      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Utex                                                                   | Utex                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2840 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| HUB INTERNATIONAL LTD                                                  | HUB International Ltd                                              | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    410000 | PA      | $424915.80    | 1.07%             | 2032-01-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Altar Bidco Inc                                                        | Altar Bidco Inc                                                    | CUSIP: 02090CAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    730000 | PA      | $692587.50    | 1.75%             | 2030-02-01      | Floating      | 9.28%                 | No            |                  2 | On Loan: No      |
| Learning Care Group P/S                                                | Learning Care Group P/S                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       397 | NS      | $767798.00    | 1.94%             |  |  |  | No            |                  3 | On Loan: No      |
| Engineered Machinery Holdings Inc                                      | Engineered Machinery Holdings Inc                                  | CUSIP: 26658NAN9<br>LEI: 5493008AR0NPSLW8EW07 | Long             | LON              | CORP              | US        |    428099 | PA      | $428098.92    | 1.08%             | 2029-05-21      | Floating      | 10.76%                | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings Inc                                     | CLEAR CHANNEL OUTDOOR HO                                           | CUSIP: 18452RAF2<br>LEI: 254900XBEE6V1ENYS150 | Long             | LON              | CORP              | US        |    920000 | PA      | $920874.00    | 2.32%             | 2028-08-21      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| BBAM US CLO LTD.                                                       | BBAM US CLO III Ltd                                                | CUSIP: 054972AE4<br>LEI: 54930064Z7YZMOXBC128 | Long             | ABS-CBDO         | CORP              | KY        |    850000 | PA      | $847786.60    | 2.14%             | 2038-10-15      | Floating      | 9.14%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                          | CoreWeave Inc                                                      | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $1070014.87   | 2.70%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| BAFFINLAND IRON CORP/LP                                                | Baffinland Iron Mines Corp / Baffinland Iron Mines LP              | CUSIP: 056623AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   3189000 | PA      | $2868749.78   | 7.23%             | 2026-07-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Learning Care Group Warrant                                            | Learning Care Group Warrant                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       117 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| SPX FLOW INC                                                           | SPX FLOW Inc                                                       | CUSIP: 758071AA2<br>LEI: 5493003YXEKRBINIEM78 | Long             | DBT              | CORP              | US        |    620000 | PA      | $634036.18    | 1.60%             | 2030-04-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| DG Investment Intermediate Holdings 2 Inc                              | DG INVESTMENT INTERMEDI                                            | CUSIP: 23344MAN8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    590000 | PA      | $590000.00    | 1.49%             | 2033-07-29      | Floating      | 9.46%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                                       | Trinitas CLO XXI Ltd                                               | CUSIP: 89640KAE4<br>LEI: 254900S6ZHFKMFCQD992 | Long             | ABS-CBDO         | CORP              | BM        |    420000 | PA      | $418422.48    | 1.05%             | 2038-04-20      | Floating      | 9.38%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                                        | Madison IAQ LLC                                                    | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    663000 | PA      | $649668.85    | 1.64%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MajorDrive Holdings IV LLC                                             | MajorDrive Holdings IV LLC                                         | CUSIP: 56085UAB9<br>LEI: 25490044R1FR5N8FIT62 | Long             | LON              | CORP              | US        |    872673 | PA      | $845262.81    | 2.13%             | 2028-06-01      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| Balboa Bay Loan Funding Ltd                                            | Balboa Bay Loan Funding 2023-1 Ltd                                 | CUSIP: 05766HAF2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $989440.00    | 2.49%             | 2036-04-20      | Floating      | 9.28%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                                                 | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1262476.71   | 3.18%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| EyeCare Partners LLC                                                   | EYECARE PARTNERS LLC                                               | CUSIP: 30233PAR1<br>LEI: 254900ZAACWK09RJ8W93 | Long             | LON              | CORP              | US        |     64297 | PA      | $13502.44     | 0.03%             | 2028-11-30      | Floating      | 10.72%                | No            |                  2 | On Loan: No      |
| Engineered Machinery Holdings Inc                                      | Engineered Machinery Holdings Inc                                  | CUSIP: 26658NAQ2<br>LEI: 5493008AR0NPSLW8EW07 | Long             | LON              | CORP              | US        |    558175 | PA      | $558175.13    | 1.41%             | 2029-05-21      | Floating      | 10.26%                | No            |                  2 | On Loan: No      |
| WestStar Tranche A FRN 2030                                            | WestStar Tranche A FRN 2030                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    599498 | PA      | $599497.50    | 1.51%             | 2030-07-25      | Floating      | 10.80%                | No            |                  3 | On Loan: No      |
| Aruba Investments Holdings LLC                                         | Aruba Investments Holdings LLC                                     | CUSIP: 04317JAF5<br>LEI: 254900GMIYFF4FZ0A357 | Long             | LON              | CORP              | US        |   2150000 | PA      | $1935000.00   | 4.88%             | 2028-11-24      | Floating      | 11.81%                | No            |                  2 | On Loan: No      |
| SCIH SALT HOLDINGS INC                                                 | SCIH Salt Holdings Inc                                             | CUSIP: 78433BAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    660000 | PA      | $654150.45    | 1.65%             | 2029-05-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Saothair T. Bailey Acquisition. LLC                                    | Saothair T. Bailey Acquisition. LLC                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    689692 | PA      | $689691.83    | 1.74%             | 2029-12-16      | Floating      | 11.00%                | No            |                  3 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                               | Hilcorp Energy I LP / Hilcorp Finance Co                           | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    210000 | PA      | $202426.18    | 0.51%             | 2035-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Polished Metals Limited Note                                           | Polished Metals Limited Note                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1198274 | PA      | $1198273.85   | 3.02%             | 2027-04-14      | Floating      | 14.43%                | No            |                  3 | On Loan: No      |
| RLG Holdings LLC                                                       | RLG HOLDINGS LLC                                                   | CUSIP: 74970AAF5<br>LEI: 254900Y6CDN3X5BPSO77 | Long             | LON              | CORP              | US        |    454443 | PA      | $157237.44    | 0.40%             | 2029-07-06      | Floating      | 11.58%                | No            |                  2 | On Loan: No      |
| ARCTIC CMN                                                             | ARCTIC CMN                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       134 | NS      | $6566.00      | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Autokiniton US Holdings Inc                                            | AUTOKINITON US HOLDINGS                                            | CUSIP: 05278HAC0<br>LEI: 254900EHNKMJ1OSEZL85 | Long             | LON              | CORP              | US        |    408959 | PA      | $392192.06    | 0.99%             | 2028-04-06      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| Specialty Steel Holdings Inc                                           | Specialty Steel Holdings Inc                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         6 | NS      | $739780.60    | 1.86%             |  |  |  | No            |                  3 | On Loan: No      |
| Infinite Bidco LLC                                                     | Infinite Bidco LLC                                                 | CUSIP: 45674KAF2<br>LEI: 549300GLV0VRADA9LI65 | Long             | LON              | CORP              | US        |    474202 | PA      | $424116.68    | 1.07%             | 2029-03-02      | Floating      | 11.10%                | No            |                  2 | On Loan: No      |
| Colca Capital Sr Sec 2028                                              | Colca Capital Sr Sec 2028                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | PE        |    840000 | PA      | $840000.00    | 2.12%             | 2030-05-23      | Floating      | 15.50%                | No            |                  3 | On Loan: No      |
| EyeCare Partners LLC                                                   | EYECARE PARTNERS LLC                                               | CUSIP: 30233PAT7<br>LEI: 254900ZAACWK09RJ8W93 | Long             | LON              | CORP              | US        |    803679 | PA      | $467893.61    | 1.18%             | 2028-11-30      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                                           | MH Sub I LLC                                                       | CUSIP: 55303BAD5<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |   1609974 | PA      | $1203455.63   | 3.03%             | 2029-02-23      | Floating      | 10.09%                | No            |                  2 | On Loan: No      |
| REAL HERO MERGER SUB 2                                                 | Real Hero Merger Sub 2 Inc                                         | CUSIP: 75602BAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2331000 | PA      | $1393914.69   | 3.51%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SC GAMES HOLDIN/US FINCO                                               | Scientific Games Holdings LP/Scientific Games US FinCo Inc         | CUSIP: 80874DAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $548081.10    | 1.38%             | 2030-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| First Eagle Holdings Inc-f/k/a Arnhold and S. Bleicroeder Holdings Inc | GC FERRY ACQUISITION I                                             | CUSIP: 32009UAD9<br>LEI: 549300ZKYR56QRODD510 | Long             | LON              | CORP              | US        |   1110417 | PA      | $1107796.08   | 2.79%             | 2032-08-16      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| Saothair T. Bailey Acquisition. LLC DD                                 | Saothair T. Bailey Acquisition. LLC DD                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    141000 | PA      | $141000.00    | 0.36%             | 2029-12-16      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-22

**Name of Applicant:** Polen Credit Opportunities Fund

**Signature:** Christine S. Catanzaro

**Name of Signer:** Christine S. Catanzaro

**Title:** Treasurer and Chief Financial Officer