# EDGAR Filing Document

**Accession Number:** 0002036272
**File Stem:** 0001410368-26-056402
**Filing Date:** 2026-5
**Character Count:** 63525
**Document Hash:** 93c978dd1c14b0efa7697231c0216efa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-056402.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0001410368-26-056402

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TCW Private Asset Income Fund
- **CENTRAL INDEX KEY:** 0002036272

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-24002
- **FILM NUMBER:** 261045205

**BUSINESS ADDRESS:**
- **STREET 1:** 515 SOUTH FLOWER ST
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 213-244-0000

**MAIL ADDRESS:**
- **STREET 1:** 515 SOUTH FLOWER ST
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

## Nport-Ex

TCW Private Asset Income Fund

Consolidated Schedule of Investments (Unaudited)

March 31, 2026

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Description** | **Footnotes** | **Industry** | **Interest<br>Rate** | **Reference<br>Rate &<br>Spread<sup>(2)</sup>** | **Maturity<br>Date** | **Principal/Shares** | **Amortized<br>Cost<sup>(3)</sup>** | **Fair<br>Value** |
|  **Asset Backed Loans** |  |  |  |  |  |  |  |  |  |
|  **Mezzanine Debt–38.8%** |  |  |  |  |  |  |  |  |  |
|  Arra Finance Automobile Trust I | Revolver | (4) | Prime and<br>Non-Prime<br>Auto - Non<br>Prime | 11.57% | 90-day<br>SOFR+790 | 07/26/2027 | $24711329 | $24473964 | $24500865 |
|  Cardless Asset Receivable Trust | Revolver | (4) | Credit Cards -<br>Prime | 12.67% | 90-day<br>SOFR+900 | 04/15/2028 | 52492707 | 52179307 | 52139430 |
|  Cherry SPV IX LLC | Revolver | (4) | Unsecured<br>Installment<br>Loans - Prime | 10.67% | 90-day<br>SOFR+700 | 10/01/2029 | 8806408 | 8711341 | 8775766 |
|  Flexible Finance SPV III, LLC | Revolver | (4) | Other -<br>Unsecured | 10.67% | 90-day<br>SOFR+700 | 05/20/2028 | 8397833 | 8318907 | 8381989 |
|  Imprint Payments, Inc. | Revolver | (4) | Credit Cards -<br>Prime | 10.42% | 30-day<br>SOFR+675 | 07/01/2027 | 2368420 | 2219845 | 2361865 |
|  Mercury Financial Credit Card Master Trust | Revolver | (4) | Credit Cards -<br>Near Prime | 11.47% | 30-day<br>SOFR+780 | 04/20/2029 | 52645161 | 52575123 | 52676402 |
|  PIXEL 2025-2 | Revolver | (4) | Other -<br>Secured | 8.58% | 90-day LIBOR<br>Euro+650 | 12/29/2034 | 9500000 | 11300540 | 10905841 |
|  Sothebys Art Loan Trust LLC | Revolver | (4) | Other -<br>Secured | 8.92% | 90-day<br>SOFR+525 | 12/20/2029 | 23812935 | 23812935 | 23812935 |
|  UP SP Gemini Holdings LLC | Equity | (4) | Unsecured<br>Installment<br>Loans | 0.00% |  |  | 4950000 | 4950000 | 4950000 |
|  Upgrade, Inc. | Revolver | (4) | Prime and<br>Non-Prime<br>Auto - Prime | 10.42% | 30-day<br>SOFR+675 | 12/15/2028 | 3204970 | 3023916 | 3170303 |
|  |  |  |  |  |  |  |  | **191565878** | **191675396** |
|  **Senior Debt–10.5%** |  |  |  |  |  |  |  |  |  |
|  3J South Bay 25 LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 10.50% |  | 10/01/2026 | 962500 | 962500 | 961528 |
|  4J South Bay LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 10.50% |  | 06/01/2026 | 1058575 | 1058575 | 1059673 |
|  7111 E 21st St LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 11.00% |  | 08/01/2027 | 1320159 | 1315165 | 1325496 |
|  Chimney Partners, LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 9.25% |  | 06/01/2026 | 3400000 | 3400000 | 3404212 |
|  Eich Group of Bedford LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 10.00% |  | 09/01/2026 | 1000000 | 1000000 | 999429 |
|  Green Electronics Solutions (Charlotte) Inc. | Bridge Loans | (4) | Commercial<br>Real Estate | 10.50% |  | 01/01/2027 | 2847000 | 2847000 | 2843403 |

---

*The accompanying notes are an integral part of these consolidated financial statements.* 

------

TCW Private Asset Income Fund

Consolidated Schedule of Investments (Unaudited) (Continued)

March 31, 2026

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Description** | **Footnotes** | **Industry** | **Interest<br>Rate** | **Reference<br>Rate &<br>Spread<sup>(2)</sup>** | **Maturity<br>Date** | **Principal/Shares** | **Amortized<br>Cost<sup>(3)</sup>** | **Fair<br>Value** |
|  **Senior Debt (continued)** |  |  |  |  |  |  |  |  |  |
|  Hammill Project LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 9.75% |  | 08/01/2026 | $1800000 | $1800000 | $1802156 |
|  Horizon RE Properties LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 9.50% |  | 05/01/2026 | 1500000 | 1500000 | 1500083 |
|  Ideal Home Builders, Inc. | Bridge Loans | (4) | Commercial<br>Real Estate | 9.75% |  | 02/01/2027 | 374490 | 374490 | 373954 |
|  Keystone Capital LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 10.50% |  | 08/01/2026 | 1920000 | 1918150 | 1925518 |
|  King 25 LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 9.99% |  | 07/01/2026 | 1692447 | 1692447 | 1695658 |
|  MOMO 1 LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 9.50% |  | 01/01/2027 | 1400000 | 1400000 | 1398222 |
|  Napnot Texas LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 9.50% |  | 12/01/2026 | 5575000 | 5575000 | 5575094 |
|  Nomura Corporate Funding Americas LLC | Participation<br>Agreement | (4) | Fund Finance | 7.20% | 30-day<br>SOFR+350 | 04/11/2030 | 10000000 | 10000000 | 10000000 |
|  Ogden MHP Owner LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 10.50% |  | 11/01/2026 | 3900000 | 3900000 | 3897443 |
|  Riverside 25 LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 9.99% |  | 07/01/2026 | 1482000 | 1482000 | 1484811 |
|  Rushing Commercial Crosing LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 9.50% |  | 03/01/2027 | 2150000 | 2150000 | 2146595 |
|  Washington Marina Apartments LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 10.00% |  | 02/01/2027 | 3500000 | 3500000 | 3493339 |
|  Whitsett Dream LLC | Bridge Loans | (4) | Commercial<br>Real Estate | 10.50% |  | 01/01/2027 | 5980000 | 5980000 | 6003440 |
|  |  |  |  |  |  |  |  | **51855327** | **51890054** |
|  **Asset Backed Loans Total – 49.3%** |  |  |  |  |  |  |  | $**243421205** | $**243565450** |
|  **Asset Backed Securities Mezzanine Debt–34.0%** |  |  |  |  |  |  |  |  |  |
|  Affirm Master Trust | Series 2025-2A,<br>Class E | (8) | Unsecured<br>Installment<br>Loans - Prime | 7.65% |  | 07/15/2033 | $7000000 | $6999960 | $7090623 |
|  Aqua Finance Trust | Series 2025-A,<br>Class C | (8) | Home<br>Improvement -<br>Prime | 5.81% |  | 12/19/2050 | 1316917 | 1316913 | 1336931 |
|  Avis Budget Rental Car Funding | Series 2021-2A,<br>Class D | (8) | Other -<br>Secured | 4.08% |  | 02/20/2028 | 6500000 | 6298473 | 6428722 |
|  Avis Budget Rental Car Funding | Series 2022-1A,<br>Class D | (8) | Other -<br>Secured | 6.36% |  | 08/21/2028 | 10000000 | 9998895 | 10021440 |

---

*The accompanying notes are an integral part of these consolidated financial statements.* 

------

TCW Private Asset Income Fund

Consolidated Schedule of Investments (Unaudited) (Continued)

March 31, 2026

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Description** | **Footnotes** | **Industry** | **Interest<br>Rate** | **Reference<br>Rate &<br>Spread<sup>(2)</sup>** | **Maturity<br>Date** | **Principal/Shares** | **Amortized<br>Cost<sup>(3)</sup>** | **Fair<br>Value** |
|  **Mezzanine Debt (continued)** |  |  |  |  |  |  |  |  |  |
|  Avis Budget Rental Car Funding | Series 2023-7A,<br>Class D | (8) | Other -<br>Secured | 7.98% |  | 08/21/2028 | $6460000 | $6459886 | $6543350 |
|  Cherry Securitization Trust | Series 2024-1A,<br>Class D | (8) | Unsecured<br>Installment<br>Loans - Prime | 12.28% |  | 04/15/2032 | 1000000 | 1024042 | 1014252 |
|  Consolidated Communications LLC | Series 2025-4A,<br>Class C | (8) | Fiber | 8.10% |  | 12/20/2055 | 8000000 | 8107546 | 8159267 |
|  Credibly Asset Securitization | Series 2026-1A,<br>Class D | (8) | Small and<br>Mid-Sized<br>Business<br>(SMB) | 9.42% |  | 04/15/2029 | 3000000 | 2999306 | 2990554 |
|  FF Asset Securitization LLC | Series 2025-1A,<br>Class C | (8) | Small<br>Business<br>Lending - Non<br>Prime | 11.17% |  | 12/17/2031 | 9500000 | 9499966 | 9473354 |
|  Fora Financial Asset Securitization | Series 2024-1A,<br>Class C | (8) | Small<br>Business<br>Lending -<br>Prime | 8.03% |  | 08/15/2029 | 3900000 | 3926389 | 3913582 |
|  Fortiva Retail Credit Master Note Business Trust | Series 2025-2,<br>Class C | (4) | Credit Cards -<br>Near Prime | 12.52% |  | 05/15/2031 | 7700000 | 7699214 | 7660732 |
|  Mission Lane Credit Card Master Trust | Series 2024-B,<br>Class D | (8) | Credit Cards -<br>Near Prime | 9.16% |  | 01/15/2030 | 4000000 | 4011374 | 3989926 |
|  Mission Lane Credit Card Master Trust | Series 2024-B,<br>Class E | (8) | Credit Cards -<br>Near Prime | 12.19% |  | 01/15/2030 | 3000000 | 3012466 | 3002611 |
|  NFAS, LLC | Series 2025-1,<br>Class C | (8) | Small<br>Business<br>Lending -<br>Near Prime | 8.19% |  | 05/15/2031 | 9602000 | 9628566 | 9708860 |
|  NFAS, LLC | Series 2025-1,<br>Class D | (8) | Small<br>Business<br>Lending -<br>Near Prime | 11.93% |  | 05/15/2031 | 6169000 | 6186028 | 6194157 |
|  Ondeck Asset Securitization Trust | Series 2024-2A,<br>Class B | (8) | Small<br>Business<br>Lending -<br>Prime | 5.42% |  | 10/17/2031 | 1375000 | 1354297 | 1363903 |
|  Ondeck Asset Securitization Trust | Series 2024-1A,<br>Class C | (8) | Small<br>Business<br>Lending -<br>Prime | 8.99% |  | 06/17/2031 | 12000000 | 12229825 | 12175498 |

---

*The accompanying notes are an integral part of these consolidated financial statements.* 

------

TCW Private Asset Income Fund

Consolidated Schedule of Investments (Unaudited) (Continued)

March 31, 2026

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Description** | **Footnotes** | **Industry** | **Interest<br>Rate** | **Reference<br>Rate &<br>Spread<sup>(2)</sup>** | **Maturity<br>Date** | **Principal/Shares** | **Amortized<br>Cost<sup>(3)</sup>** | **Fair<br>Value** |
|  **Mezzanine Debt (continued)** |  |  |  |  |  |  |  |  |  |
|  Ondeck Asset Securitization Trust | Series 2025-1A,<br>Class D | (8) | Other -<br>Secured | 8.77% |  | 04/19/2032 | $4200000 | $4269560 | $4253367 |
|  Ondeck Asset Securitization Trust | Series 2025-2A,<br>Class D | (8) | Small<br>Business<br>Lending -<br>Prime | 8.58% |  | 11/17/2032 | 2800000 | 2802965 | 2830104 |
|  Par Issuer Trust | Series 2026-1A,<br>Class B | (8) | Unsecured<br>Installment<br>Loans | 7.84% |  | 12/15/2032 | 4000000 | 3999905 | 3987945 |
|  Perimeter Master Note Business Trust | Series 2025-2,<br>Class C | (4) | Credit Cards -<br>Non Prime | 8.94% |  | 09/15/2031 | 10000000 | 10000000 | 9921675 |
|  Perimeter Master Note Business Trust | Series 2025-2,<br>Class D | (4) | Credit Cards -<br>Non Prime | 13.24% |  | 09/15/2031 | 5000000 | 5000000 | 4962810 |
|  Perimeter Master Note Business Trust | Series 2025-1A,<br>Class C | (8) | Credit Cards -<br>Non Prime | 8.49% |  | 12/16/2030 | 5000000 | 4999104 | 4893748 |
|  Perimeter Master Note Business Trust | Series 2025-1A,<br>Class D | (8) | Credit Cards -<br>Non Prime | 12.80% |  | 12/16/2030 | 5000000 | 4999503 | 4957884 |
|  RFS Asset Securitization II LLC | Series 2024-1,<br>Class C | (8) | Small<br>Business<br>Lending -<br>Near Prime | 8.35% |  | 07/15/2031 | 1750000 | 1757499 | 1773663 |
|  RFS Asset Securitization LLC | Series 2025-1,<br>Class C | (8) | Small<br>Business<br>Lending -<br>Near Prime | 7.65% |  | 05/15/2032 | 5809000 | 5828942 | 5819360 |
|  RFS Asset Securitization LLC | Series 2025-1,<br>Class D | (8) | Small<br>Business<br>Lending -<br>Near Prime | 11.11% |  | 05/15/2032 | 2000000 | 1999956 | 2009507 |
|  RFS Asset Securitization LLC | Series 2025-1,<br>Class E | (8) | Small<br>Business<br>Lending -<br>Near Prime | 13.11% |  | 05/15/2032 | 6576000 | 6575866 | 6608311 |
|  Soththebys Artfi Master Trust | Series 2026-1A,<br>Class E | (8) | Other -<br>Secured | 7.27% |  | 06/20/2033 | 13750000 | 13794052 | 13845472 |
|  Sunbit Asset Securitization Trust | Series 2025-1,<br>Class D | (8) | Unsecured<br>Installment<br>Loans - Near<br>Prime | 7.92% |  | 07/15/2030 | 1000000 | 999944 | 995328 |
|  |  |  |  |  |  |  |  | **167780442** | **167926936** |

---

*The accompanying notes are an integral part of these consolidated financial statements.* 

------

TCW Private Asset Income Fund

Consolidated Schedule of Investments (Unaudited) (Continued)

March 31, 2026

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Description** | **Footnotes** | **Industry** | **Interest<br>Rate** | **Reference<br>Rate &<br>Spread<sup>(2)</sup>** | **Maturity<br>Date** | **Principal/Shares** | **Amortized<br>Cost<sup>(3)</sup>** | **Fair<br>Value** |
|  **Senior Debt–1.3%** |  |  |  |  |  |  |  |  |  |
|  PK ALIFT Loan Funding | Series 2025-2,<br>Class A | (8) | Aircraft | 4.75% |  | 03/15/2043 | $6363790 | $6363662 | $6341703 |
|  |  |  |  |  |  |  |  | **6363662** | **6341703** |
|  **Asset Backed Securities Total – 35.3%** |  |  |  |  |  |  |  | $**174144104** | $**174268639** |
|  **Collateralized Loan Obligation Mezzanine Debt–1.2%** |  |  |  |  |  |  |  |  |  |
|  Magnetite CLO LTD | Series 2024-42A,<br>Class A | (8) | Other -<br>Secured | 11.35% |  | 01/25/2038 | $5000000 | $3540000 | $3077824 |
|  PFP III | Series 2025-12,<br>Class D | (8) | Commercial<br>Real Estate | 6.83% |  | 12/18/2042 | 3000000 | 3033320 | 2995273 |
|  **Collateralized Loan Obligation Total – 1.2%** |  |  |  |  |  |  |  | $**6573320** | $**6073097** |
|  **Residential Mortgage Backed Securities Mezzanine Debt–0.6%** |  |  |  |  |  |  |  |  |  |
|  PRPM 2025-RPL3, LLC | Series 2025-RPL3,<br>Class M1 | (8) | Agency &<br>Non-Agency<br>Residential<br>Mortgages -<br>Near Prime | 3.25% |  | 04/25/2055 | $3000000 | $2649697 | $2851925 |
|  |  |  |  |  |  |  |  | **2649697** | **2851925** |
|  **Senior Debt–3.4%** |  |  |  |  |  |  |  |  |  |
|  Angel Oak Mortgage Trust | Series 2025-HB1,<br>Class A-1 | (8) | Agency &<br>Non-Agency<br>Residential<br>Mortgages -<br>Near Prime | 5.46% | 30-day<br>SOFR+180 | 02/25/2055 | 1999690 | 1999690 | 2008612 |
|  Pretium Mortgage Credit Partner | Series 2025-NPL4,<br>Class A-1 | (8) | Agency &<br>Non-Agency<br>Residential<br>Mortgages -<br>Non Prime | 6.37% |  | 04/25/2055 | 2118062 | 2118061 | 2121638 |

---

*The accompanying notes are an integral part of these consolidated financial statements.* 

------

TCW Private Asset Income Fund

Consolidated Schedule of Investments (Unaudited) (Continued)

March 31, 2026

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments<sup>(1)</sup>** | **Description** | **Footnotes** | **Industry** | **Interest<br>Rate** | **Reference<br>Rate &<br>Spread<sup>(2)</sup>** | **Maturity<br>Date** | **Principal/Shares** | **Amortized<br>Cost<sup>(3)</sup>** | **Fair<br>Value** |
|  **Senior Debt (continued)** |  |  |  |  |  |  |  |  |  |
|  PRPM 2025-2, LLC | Series 2025-2,<br>Class A-1 | (8) | Agency &<br>Non-Agency<br>Residential<br>Mortgages -<br>Near Prime | 6.69% |  | 05/25/2030 | $8596631 | $8590436 | $8582788 |
|  PRPM 2025-RPL3, LLC | Series 2025-RPL3,<br>Class A-1 | (8) | Agency &<br>Non-Agency<br>Residential<br>Mortgages -<br>Near Prime | 3.25% |  | 04/25/2055 | 4433971 | 4192448 | 4292432 |
|  |  |  |  |  |  |  |  | **16900635** | **17005470** |
|  **Residential Mortgage Backed Securities Total – 4.0%** |  |  |  |  |  |  |  | $**19550332** | $**19857395** |
|  **Money Market Fund** |  |  |  |  |  |  |  |  |  |
|  Dreyfus Treasury Obligations Cash Management Fund |  | (9) |  | 3.54% |  | 01/05/2050 | $61045573 | $61045573 | $61045573 |
|  First American Treasury Obligations Fund |  | (6) |  | 4.01% |  | 01/05/2050 | 156996 | 156996 | 156996 |
|  **Money Market Fund Total – 12.4%** |  |  |  |  |  |  |  | $**61202569** | $**61202569** |
|  **Total Investments — 102.2%** |  |  |  |  |  |  |  | $**504891530** | $**504967150** |
|  Net unrealized depreciation on unfunded commitments — (0.1)% |  |  |  |  |  |  |  |  | (653796) |
|  Liabilities in excess of other assets — (2.1)% |  |  |  |  |  |  |  |  | $(10213496) |
|  **Net Assets — 100.0%** |  |  |  |  |  |  |  |  | $**494099858** |

---

(1) Unless otherwise indicated, issuers of debt investments held by the Fund are denominated in dollars. All debt
investments are income producing unless otherwise indicated.

(2) Represents the interest rate for a variable or floating rate security, determined as Reference Rate + Basis
Point spread. Stated interest rate represents the "all-in" rate as of March 31, 2026. Reference Rates are defined as follows: As of March 31, 2026, the reference rates for the
Fund's variable rate securities were the 30-day Secured Overnight Financing ("SOFR") at 3.66% and the 90-day SOFR at 3.68%.

(3) The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on
loan investments using the effective interest method in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").

(4) The value of this security was determined using significant unobservable inputs. See Note 2. Fair Value
Measurement.

(5) The Par/Principal Amount includes unfunded commitment to fund a revolving facility. No interest is being earned
on the unfunded portion, although the investment may be subject to unused commitment fees.

(6) The security position is held at TCW Private Asset Income Fund Cayman LTD.

(7) The security position is held at Trestles Holdings LLC.

(8) Represents securities sold under Rule 144A, which are exempt from registration under the Securities Act of 1933,
as amended. These securities have been determined to be liquid under the guidelines established by the Board of Trustees. These securities amount to $200,199,131 or 40.5% of the Fund's net assets at period end.

(9) Interest rate reflects the 30 day yield at March 31, 2026.

*The accompanying notes are an integral part of these consolidated financial statements.* 

------

TCW Private Asset Income Fund

Consolidated Schedule of Investments (Unaudited) (Continued)

March 31, 2026

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency Exchange Contracts** | **Foreign Currency Exchange Contracts** | **Foreign Currency Exchange Contracts** | **Foreign Currency Exchange Contracts** | **Foreign Currency Exchange Contracts** | **Foreign Currency Exchange Contracts** | **Foreign Currency Exchange Contracts** | **Foreign Currency Exchange Contracts** |
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement Date** | **Unrealized<br>Appreciation** | **Unrealized<br>(Depreciation)** |
|  USD | 11480670 | EUR | 9636412 | Goldman Sachs International Limited | 4/1/2026 | $431954 | $— |
|  USD | 11144249 | EUR | 9636412 | Goldman Sachs International Limited | 6/26/2026 | 51546 |  |
|  EUR | 9636412 | USD | 11100751 | Goldman Sachs International Limited | 4/1/2026 |  | (52113) |
|  |  |  |  |  |  | $483500 | $(52113) |

---

*The accompanying notes are an integral part of these consolidated financial statements.* 

------

TCW Private Asset Income Fund

Notes to Schedule of Investments (Unaudited)

March 31, 2026

**Note 1. Organization** 

TCW Private Asset Income Fund ("TPAY") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as a non-diversified, closed-end management investment company that is operated as an interval fund. TPAY was organized as a Delaware statutory trust on September 3, 2024, and commenced investment operations on April 1, 2025. In addition, TPAY has elected to be treated, and intends to continue to comply with the requirements to qualify annually, as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (together with the rules and regulations promulgated thereunder, the "Code"). TPAY, together with its subsidiaries, Trestles LLC (the "Trestles") and TCW Private Asset Income Fund Cayman, Ltd ("TPAY Cayman"), (the "Fund"), engages in a continuous offering of shares and will offer to make quarterly repurchases of shares at net asset value ("NAV").

TCW Asset Backed Finance Management Company LLC (the "Adviser") serves as the Fund's investment adviser and is registered with the Securities and Exchange Commission (the "SEC") under the Investment Advisers Act of 1940, as amended.

On July 2, 2025, the SPV was registered as a Delaware Limited Liability Company and is a wholly-owned subsidiary of TPAY. It began operations on November 4, 2025 for the purpose of acquiring whole commercial real estate bridge loans and producing current income.

On December 16, 2025, TPAY Cayman was registered as an exempted company incorporated in the Cayman Islands with limited liability and is a wholly-owned subsidiary of TPAY. It began operating on January 29, 2026 for the purpose of investing in Reg S securities and generating current income.

On August 25, 2025, the Fund filed a registration statement with the SEC with respect to a new class of common shares of beneficial interest designated as Class I-3 ("Class I-3 Shares"). This class participates in the same Significant Accounting Policies as described in Note 3 in these Consolidated Financial Statements. Class I-3 shares commenced operations on August 25, 2025.

As of December 31, 2025, the Fund offers three separate classes of common shares of beneficial interest ("Shares") designated as Class A ("Class A Shares"), Class I ("Class I Shares") and Class I-3 Shares.

The Fund's Shares are not listed for trading on any national securities exchange and the Fund does not currently intend to list its Shares for trading on any national securities exchange. Accordingly, there is currently no secondary market for the Fund's Shares and the Fund does not expect any secondary market to develop.

Shareholders of the Fund are not able to have their Shares redeemed or otherwise sell their Shares daily. The Fund is an "interval fund," a type of fund which, in order to provide liquidity to shareholders, has adopted a fundamental investment policy to make quarterly offers to repurchase between 5% and 25% of its outstanding Shares at NAV per Share. Subject to applicable law and approval of the Board of Trustees (the "Board," and each of the trustees on the Board, a "Trustee"), for each quarterly repurchase offer, the Fund currently expects to offer to repurchase 5% of the Fund's outstanding Shares at NAV, which is the minimum amount permitted.

TCW Funds Distributors LLC (the "Distributor") serves as the principal underwriter and distributor of the Fund's Shares. Class A Shares are subject to a distribution and shareholder servicing plan under which they pay fees. Class I Shares and Class I-3 Shares do not pay such fees. The Distributor is not required to sell any specific number or dollar amount of the Fund's Shares.

**Note 2. Fair Value Measurements** 

**Fund Valuation:** The NAV per Share for the Fund is determined following the close of regular trading on the New York Stock Exchange ("NYSE"), generally 4:00 p.m. Eastern time, on each day the NYSE is open for trading. Each of the Fund's share classes will be offered at NAV plus the applicable sales load, if any. The Fund's NAV per Share is calculated, on a class-specific basis, by dividing the value of the Fund's total assets (the value of the securities the Fund holds plus cash or other assets, including interest accrued but not yet received), less accrued expenses and other liabilities of the Fund, by the total number of shares outstanding.

**Security Valuation:** The Fund's Board has adopted procedures pursuant to which the Fund will value its investments (the "Valuation Policy and Procedures"). In accordance with the Valuation Policy and Procedures, the Fund's portfolio investments for which market quotations are readily available are valued at market value. Investments for which market quotations are not readily available or are deemed to be unreliable are valued at fair value as determined in good faith pursuant to Rule 2a-5 under the 1940 Act. As permitted by Rule 2a-5 under the 1940 Act, the Board has designated the Adviser as the Fund's valuation designee ("Valuation Designee") to perform fair value determinations relating to all portfolio investments. The Adviser carries out its designated responsibilities as Valuation Designee through various teams pursuant to the Valuation Policy and Procedures which govern the Valuation Designee's selection and application of methodologies and independent pricing services for determining and calculating the fair value of portfolio investments. The Valuation Designee will fair value portfolio investments utilizing inputs from various external and internal sources including, but not limited to, independent pricing services, dealer quotation reporting systems, independent third-party valuation firms and proprietary models and information. When determining the fair value of an investment, one or more fair value methodologies may be used. Fair value determinations will be

------

TCW Private Asset Income Fund

Notes to Schedule of Investments (Unaudited) (Continued)

March 31, 2026

based upon all available factors that the Valuation Designee deems relevant at the time of the determination. Fair valuation involves subjective judgments, and it is possible that the fair value determined for a security may differ materially from the value that could be realized upon the sale of the security.

**Fair Value Measurements:** In accordance with ASC Topic 820 – Fair Value Measurement and Disclosures, a three-tier hierarchy has been established to classify fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability that are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability that are developed based on the best information available. In accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP, the Fund discloses fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value, as follows:

Level 1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Fund has the ability to access at the measurement date;

Level 2 – Quoted prices which are not active, quoted prices for similar assets or liabilities in active markets or inputs other than quoted prices that are observable (either directly or indirectly) for substantially the full term of the asset or liability at the measurement date; and

Level 3 – Significant unobservable prices or inputs (including the Fund's own assumptions in determining the fair value of investments) where there is little or no market activity for the asset or liability at the measurement date.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

An investment level within the fair value hierarchy is based on the lowest level input, individually or in the aggregate, that is significant to fair value measurement. The valuation techniques used by the Fund to measure fair value during the period ended March 31, 2026, maximized the use of observable inputs and minimized the use of unobservable inputs.

The fair value of asset backed loans is generally valued by third-party pricing services that use valuation estimates from their internal pricing models, broker-dealer quotations or reported trades. The pricing models for these securities usually consider tranche-level attributes, current market data, estimated cash flows and market-based yield spreads for each tranche, and incorporate deal collateral performance, as available. These securities are classified as Level 3.

The fair value of asset-backed securities and residential mortgage-backed securities is estimated based on pricing models that consider the estimated cash flows of each debt tranche of the issuer, establish a benchmark yield, and develop an estimated tranche-specific spread to the benchmark yield based on the unique attributes of the tranche including, but not limited to, the prepayment speed assumptions and attributes of the collateral. To the extent the inputs are observable and timely, the values would be categorized as Level 2 of the fair value hierarchy; otherwise, they would be categorized as Level 3.

Money market funds are open-end mutual funds that invest in short-term debt securities. To the extent that these funds are valued based upon the reported NAV, they are categorized as Level 1 of the fair value hierarchy.

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk or liquidity associated with investing in those securities. The following is a summary of the fair values according to the inputs used in valuing the Fund's investments:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** |
| **Assets** | **Level 1** | **Level 2** | **Level 3** | **Total** |
|  Asset Backed Loans | $— | $— | $243565450 | $243565450 |
|  Asset Backed Securities |  | 151723422 | 22545217 | 174268639 |
|  Collateralized Loan Obligation |  | 6073097 |  | 6073097 |
|  Residential Mortgage Backed Securities |  | 19857395 |  | 19857395 |
|  Money Market Funds | 61202569 |  |  | 61202569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments, at Fair Value** | $**61202569** | $**177653914** | $**266110667** | $**504967150** |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** TCW Private Asset Income Fund

- **b. Investment Company Act file number:** 811-24002

- **c. CIK number of Registrant:** 0002036272

- **d. LEI of Registrant:** 254900JOZ7KOHWZ5ZD02

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

  - **Street Address 1:** 515 SOUTH FLOWER STREET

  - **City:** LOS ANGELES

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90071

  - **Telephone number:** 213-244-0000

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

- **a. Name of Series:** TCW Private Asset Income Fund

- **c. LEI of Series:** 254900JOZ7KOHWZ5ZD02

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $511763018.21

**Total Liabilities:** $17663160.55

**Net Assets:** $494099857.66

**Amount of Assets Invested in Other Investment Companies:** $11623200.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -67.36000000 | **1-Year:** -1501.81000000 | **5-Year:** -1248.98000000 | **10-Year:** -2546.89000000 | **30-Year:** -25.05000000

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

- **3-Month:** -1804.35000000 | **1-Year:** -63110.35000000 | **5-Year:** -57859.17000000 | **10-Year:** -4930.16000000 | **30-Year:** -48.03000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.77%                | 0.82%                | 0.15%                |
| Class ID N/A | 0.71%                | 0.77%                | 0.08%                |
| Class ID N/A | 0.59%                | 0.91%                | 0.03%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-401597.18              | $441291.12                                 |
| Month 2  | $0.00                    | $708106.10                                 |
| Month 3  | $216719.19               | $-2972936.50                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Affirm Master Trust                                              | Affirm Master Trust                                             | CUSIP: 00833BAL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7000000 | PA      | $7090623.40   | 1.44%             | 2033-07-15      | Fixed         | 7.65%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2025-HB1                               | CUSIP: 034936AA2<br>LEI: 254900ZFKOWCY24MSQ94 | Long             | ABS-O            | CORP              | US        |   1999690 | PA      | $2008612.05   | 0.41%             | 2055-02-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| Aqua Finance Trust                                               | Aqua Finance Issuer Trust 2025-A                                | CUSIP: 038394AC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1316917 | PA      | $1336930.93   | 0.27%             | 2050-12-19      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                         | Avis Budget Rental Car Funding AESOP LLC 2021                   | CUSIP: 05377REU4<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   6500000 | PA      | $6428721.65   | 1.30%             | 2028-02-20      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                         | Avis Budget Rental Car Funding AESOP LLC                        | CUSIP: 05377RFF6<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $10021440.00  | 2.03%             | 2028-08-21      | Fixed         | 6.36%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                         | Avis Budget Rental Car Funding AESOP LLC 2023                   | CUSIP: 05377RJW5<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   6460000 | PA      | $6543349.50   | 1.32%             | 2028-08-21      | Fixed         | 7.31%                 | No            |                  2 | On Loan: No      |
| Cherry Securitization Trust                                      | Cherry Securitization Trust 2024-1                              | CUSIP: 164737AD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1014252.20   | 0.21%             | 2032-04-15      | Fixed         | 12.28%                | No            |                  2 | On Loan: No      |
| Credibly Asset Securitization II LLC                             | Credibly Asset Securitization II LLC                            | CUSIP: 22530DAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2990554.20   | 0.61%             | 2029-04-15      | Fixed         | 9.42%                 | No            |                  2 | On Loan: No      |
| FF Asset Securitization LLC                                      | FF Asset Securitization LLC                                     | CUSIP: 31568BAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9500000 | PA      | $9473354.40   | 1.92%             | 2031-12-17      | Fixed         | 11.17%                | No            |                  2 | On Loan: No      |
| Consolidated Communications LLC, Fidium Fiber Finance Holdco LLC | Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC | CUSIP: 315961AE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8000000 | PA      | $8159267.20   | 1.65%             | 2055-12-20      | Fixed         | 8.10%                 | No            |                  2 | On Loan: No      |
| FORA Financial Asset Securitization                              | Fora Financial Asset Securitization 2024 LLC                    | CUSIP: 34512PAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3900000 | PA      | $3913582.14   | 0.79%             | 2029-08-15      | Fixed         | 8.03%                 | No            |                  2 | On Loan: No      |
| Fortiva Retail Credit Master Note Business Trust                 | Fortiva Retail Credit Master Note Business Trust                | CUSIP: 34962ABF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7700000 | PA      | $7660732.23   | 1.55%             | 2031-05-15      | Fixed         | 12.52%                | No            |                  3 | On Loan: No      |
| Magnetite CLO Ltd                                                | Magnetite Xlii Ltd                                              | CUSIP: 55955YAE4<br>LEI: 5299008QF7XUGQ5EZC63 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $3158290.00   | 0.64%             | 2038-01-25      | Variable      | 9.04%                 | No            |                  2 | On Loan: No      |
| Mission Lane Credit Card Master Trust                            | Mission Lane Credit Card Master Trust                           | CUSIP: 60510MBH0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $3989925.60   | 0.81%             | 2030-01-15      | Fixed         | 9.16%                 | No            |                  2 | On Loan: No      |
| Mission Lane Credit Card Master Trust                            | Mission Lane Credit Card Master Trust                           | CUSIP: 60510MBJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3002611.20   | 0.61%             | 2030-01-15      | Fixed         | 12.19%                | No            |                  2 | On Loan: No      |
| NFAS, Llc                                                        | NFAS3 LLC                                                       | CUSIP: 62909DAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9602000 | PA      | $9708859.70   | 1.96%             | 2031-05-15      | Fixed         | 8.19%                 | No            |                  2 | On Loan: No      |
| NFAS, Llc                                                        | NFAS3 LLC                                                       | CUSIP: 62909DAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6169000 | PA      | $6194156.57   | 1.25%             | 2031-05-15      | Fixed         | 11.93%                | No            |                  2 | On Loan: No      |
| Ondeck Asset Securitization Trust LLC                            | OnDeck Asset Securitization Trust IV LLC                        | CUSIP: 67108SAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1375000 | PA      | $1363903.48   | 0.28%             | 2031-10-17      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Ondeck Asset Securitization Trust LLC                            | OnDeck Asset Securitization IV LLC                              | CUSIP: 67108SAL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2800000 | PA      | $2830104.48   | 0.57%             | 2032-11-17      | Fixed         | 8.58%                 | No            |                  2 | On Loan: No      |
| Ondeck Asset Securitization Trust LLC                            | OnDeck Asset Securitization Trust IV LLC                        | CUSIP: 67118NAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12000000 | PA      | $12175497.60  | 2.46%             | 2031-06-17      | Fixed         | 8.99%                 | No            |                  2 | On Loan: No      |
| Ondeck Asset Securitization Trust LLC                            | OnDeck Asset Securitization IV LLC                              | CUSIP: 68237DAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4200000 | PA      | $4253367.30   | 0.86%             | 2032-04-19      | Fixed         | 8.77%                 | No            |                  2 | On Loan: No      |
| PK ALIFT LOAN FUNDING                                            | PK Alift Loan Funding 7 LP                                      | CUSIP: 69291NAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6363790 | PA      | $6341703.42   | 1.28%             | 2043-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PAR Issuer Trust                                                 | PAR 2026-1 Issuer Trust                                         | CUSIP: 69324TAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $3987945.20   | 0.81%             | 2032-12-15      | Fixed         | 7.84%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2025-2 LLC                                                 | CUSIP: 69382HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8596631 | PA      | $8582788.10   | 1.74%             | 2030-05-25      | Variable      | 6.47%                 | No            |                  2 | On Loan: No      |
| PFP III                                                          | PFP 2025-12 Ltd                                                 | CUSIP: 69382JAE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2995273.20   | 0.61%             | 2042-12-18      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2025-RPL3 LLC                                              | CUSIP: 69392NAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4433971 | PA      | $4292432.29   | 0.87%             | 2055-04-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2025-RPL3 LLC                                              | CUSIP: 69392NAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $2851925.40   | 0.58%             | 2055-04-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Perimeter Master Note Business Trust                             | Perimeter Master Note Business Trust                            | CUSIP: 71384PBE0<br>LEI: 5493005H6EB040833X54 | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $4893747.75   | 0.99%             | 2030-12-16      | Fixed         | 8.49%                 | No            |                  2 | On Loan: No      |
| Perimeter Master Note Business Trust                             | Perimeter Master Note Business Trust                            | CUSIP: 71384PBF7<br>LEI: 5493005H6EB040833X54 | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $4957884.25   | 1.00%             | 2030-12-16      | Fixed         | 12.80%                | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partners LLC                             | PRET 2025-NPL4 LLC                                              | CUSIP: 74136UAA3<br>LEI: 2549006327OOFEDCTX76 | Long             | ABS-O            | CORP              | US        |   2118062 | PA      | $2121638.24   | 0.43%             | 2055-04-25      | Variable      | 6.37%                 | No            |                  2 | On Loan: No      |
| RFS Asset Securitization II LLC                                  | RFS Asset Securitization II LLC                                 | CUSIP: 74969DAN5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1750000 | PA      | $1773663.15   | 0.36%             | 2031-07-15      | Fixed         | 8.35%                 | No            |                  2 | On Loan: No      |
| RFS Asset Securitization LLC                                     | RFS Asset Securitization V LLC                                  | CUSIP: 74970DAH5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5809000 | PA      | $5819359.77   | 1.18%             | 2032-05-15      | Fixed         | 7.65%                 | No            |                  2 | On Loan: No      |
| RFS Asset Securitization LLC                                     | RFS Asset Securitization V LLC                                  | CUSIP: 74970DAJ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2009506.80   | 0.41%             | 2032-05-15      | Fixed         | 11.11%                | No            |                  2 | On Loan: No      |
| RFS Asset Securitization LLC                                     | RFS Asset Securitization V LLC                                  | CUSIP: 74970DAK8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6576000 | PA      | $6608310.52   | 1.34%             | 2032-05-15      | Fixed         | 13.11%                | No            |                  2 | On Loan: No      |
| Sothebys ArtFi Master Trust                                      | Sotheby's Artfi Master Trust                                    | CUSIP: 83589DAF3<br>LEI: 9845002FA850DM72BA31 | Long             | ABS-O            | CORP              | US        |  13750000 | PA      | $13845471.75  | 2.80%             | 2033-06-20      | Fixed         | 7.27%                 | No            |                  2 | On Loan: No      |
| Sunbit Asset Securitization Trust                                | Sunbit Asset Securitization Trust 2025-1                        | CUSIP: 86709SAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $995328.30    | 0.20%             | 2030-07-15      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| The Dreyfus Corporation                                          | Dreyfus Treasury & Agency Cash Management Institutional Shares  | CUSIP: 261908107<br>LEI: 549300MKKM9KT7BF6329 | Long             | STIV             | RF                | US        |  61045573 | NS      | $61045573.47  | 12.35%            |  |  |  | No            |                  1 | On Loan: No      |
| PMNBT 2025 TWO C                                                 | PMNBT 2025 TWO C                                                | CUSIP: 000000000<br>LEI: 5493005H6EB040833X54 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9921674.50   | 2.01%             | 2031-09-15      | Fixed         | 8.94%                 | No            |                  3 | On Loan: No      |
| PMNBT 2025 TWO D D ABS/ABS                                       | PMNBT 2025 TWO D D ABS/ABS                                      | CUSIP: 000000000<br>LEI: 5493005H6EB040833X54 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4962810.15   | 1.00%             | 2031-09-15      | Fixed         | 13.24%                | No            |                  3 | On Loan: No      |
| UP SP GEMINI HOLDINGS LLC                                        | UP SP GEMINI HOLDINGS LLC                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   4950000 | NS      | $4950000.01   | 1.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Sotheby's Art Loan Trust LLC                                     | SAFMT 2023-VFS-A (2025-B)                                       | CUSIP: 000000000<br>LEI: 549300P5BAAMQQ7VL735 | Long             | LON              | CORP              | US        |  23812935 | PA      | $23812935.42  | 4.82%             | 2029-12-20      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Mercury Financial Credit Card Master Trust                       | Mercury Financial Credit Card Master Trust 2025 Revolver        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  52645161 | PA      | $52681914.12  | 10.66%            | 2029-04-20      | Floating      | 11.47%                | No            |                  3 | On Loan: No      |
| Cardless Asset Receivable Trust                                  | Cardless Asset Receivable Trust Class B Revolver                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  52492707 | PA      | $52124658.55  | 10.55%            | 2028-04-15      | Floating      | 14.75%                | No            |                  3 | On Loan: No      |
| NOMURA CORP FUND AMERICAS, LLC                                   | NOMURA CORP FUND AMERICAS, LLC Term Loan                        | CUSIP: 000000000<br>LEI: 549300SALVA4F9X8OO86 | Long             | LON              | CORP              | CA        |  10000000 | PA      | $10000000.00  | 2.02%             | 2030-04-11      | Floating      | 7.20%                 | No            |                  3 | On Loan: No      |
| IMPRINT PAYMENTS INC                                             | Imprint Payments Inc Revolver Class B                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2368420 | PA      | $2193607.65   | 0.44%             | 2027-07-01      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| CHERRY SPV IX LLC                                                | Cherry SPV IX LLC Class B Revolver                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8806408 | PA      | $8555880.62   | 1.73%             | 2029-10-01      | Floating      | 10.75%                | No            |                  3 | On Loan: No      |
| Arra Finance Automobile Trust I                                  | Arra Finance Automobile Trust I Mezzanine Class B               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  24711329 | PA      | $24477113.61  | 4.95%             | 2027-07-26      | Floating      | 11.57%                | No            |                  3 | On Loan: No      |
| UPGRADE INC                                                      | Upgrade Inc 2025 USD Class B Revolver                           | CUSIP: 000000000<br>LEI: 254900ISZIVQ9JQD5M98 | Long             | LON              | CORP              | US        |   3204970 | PA      | $2988631.85   | 0.60%             | 2028-12-15      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| FLEXIBLE FINANCE SPV III LLC                                     | Flexible Finance Spv III LLC Class B Revolver                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8397833 | PA      | $8331246.24   | 1.69%             | 2028-05-20      | Floating      | 10.67%                | No            |                  3 | On Loan: No      |
| PIXEL 2025-2 JNR FRN                                             | PIXEL 2025-2 JNR FRN                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | XX        |   9500000 | PA      | $9511875.00   | 1.93%             | 2034-12-29      | Floating      | 8.58%                 | No            |                  3 | On Loan: No      |
| Ideal Home Builders, Inc.                                        | Ideal Home Builders, Inc.                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    374490 | PA      | $373139.52    | 0.08%             | 2027-02-01      | Fixed         | 9.75%                 | No            |                  3 | On Loan: No      |
| Rushing Commercial Crosing LLC                                   | Rushing Commercial Crosing LLC                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2150000 | PA      | $2146594.55   | 0.43%             | 2027-03-01      | Fixed         | 9.50%                 | No            |                  3 | On Loan: No      |
| Chimney Partners, LLC                                            | Chimney Partners, LLC                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3400000 | PA      | $3404211.61   | 0.69%             | 2026-06-01      | Fixed         | 9.25%                 | No            |                  3 | On Loan: No      |
| 4J South Bay LLC                                                 | 4J South Bay LLC                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1058575 | PA      | $1059673.44   | 0.21%             | 2026-06-01      | Fixed         | 10.50%                | No            |                  3 | On Loan: No      |
| King 25 LLC                                                      | King 25 LLC                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1692447 | PA      | $1696004.05   | 0.34%             | 2026-07-01      | Fixed         | 9.99%                 | No            |                  3 | On Loan: No      |
| Riverside 25 LLC                                                 | Riverside 25 LLC                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1482000 | PA      | $1485048.63   | 0.30%             | 2026-07-01      | Fixed         | 9.99%                 | No            |                  3 | On Loan: No      |
| Whitsett Dream LLC                                               | Whitsett Dream LLC                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5980000 | PA      | $6003440.58   | 1.22%             | 2027-01-01      | Fixed         | 10.50%                | No            |                  3 | On Loan: No      |
| Hammill Project LLC                                              | Hammill Project LLC                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1800000 | PA      | $1802156.21   | 0.36%             | 2026-08-01      | Fixed         | 9.75%                 | No            |                  3 | On Loan: No      |
| 7111 E 21st St LLC                                               | 7111 E 21st St LLC                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1320159 | PA      | $1325496.27   | 0.27%             | 2027-08-01      | Fixed         | 11.00%                | No            |                  3 | On Loan: No      |
| Keystone Capital LLC                                             | Keystone Capital LLC                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1920000 | PA      | $1925518.06   | 0.39%             | 2026-08-01      | Fixed         | 10.50%                | No            |                  3 | On Loan: No      |
| Eich Group of Bedford LLC                                        | Eich Group of Bedford LLC                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $999429.39    | 0.20%             | 2026-09-01      | Fixed         | 10.00%                | No            |                  3 | On Loan: No      |
| 3J South Bay 25 LLC                                              | 3J South Bay 25 LLC                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    962500 | PA      | $961527.95    | 0.19%             | 2026-10-01      | Fixed         | 10.50%                | No            |                  3 | On Loan: No      |
| Ogden MHP Owner LLC                                              | Ogden MHP Owner LLC                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3900000 | PA      | $3897443.09   | 0.79%             | 2026-11-01      | Fixed         | 10.50%                | No            |                  3 | On Loan: No      |
| Horizon RE Properties LLC                                        | Horizon RE Properties LLC                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1500082.78   | 0.30%             | 2026-05-01      | Fixed         | 9.50%                 | No            |                  3 | On Loan: No      |
| Green Electronics Solutions (Charlotte) Inc.                     | Green Electronics Solutions (Charlotte) Inc.                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2847000 | PA      | $2843402.88   | 0.58%             | 2027-01-01      | Fixed         | 10.50%                | No            |                  3 | On Loan: No      |
| Washington Marina Apartments LLC                                 | Washington Marina Apartments LLC                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3500000 | PA      | $3493338.55   | 0.71%             | 2027-02-01      | Fixed         | 10.00%                | No            |                  3 | On Loan: No      |
| Napnot Texas LLC                                                 | Napnot Texas LLC                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5575000 | PA      | $5575094.12   | 1.13%             | 2026-12-01      | Fixed         | 9.50%                 | No            |                  3 | On Loan: No      |
| MOMO1 LLC                                                        | MOMO1 LLC                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1400000 | PA      | $1398221.67   | 0.28%             | 2027-01-01      | Fixed         | 9.50%                 | No            |                  3 | On Loan: No      |
| First American Treasury Obligations Fund                         | First American Treasury Obligations Fund                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    156996 | NS      | $156996.24    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-28

**Name of Applicant:** TCW Private Asset Income Fund

**Signature:** Cielo Ordonez

**Name of Signer:** Cielo Ordonez

**Title:** Senior Vice President