# EDGAR Filing Document

**Accession Number:** 0002065812
**File Stem:** 0001410368-26-050436
**Filing Date:** 2026-5
**Character Count:** 106097
**Document Hash:** 34c784acc2ebe0b1464c4c98979b724e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-050436.hdr.sgml**: 20260522

**ACCESSION NUMBER**: 0001410368-26-050436

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260522

**DATE AS OF CHANGE**: 20260522

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FS Specialty Lending Fund
- **CENTRAL INDEX KEY:** 0002065812

**ORGANIZATION NAME:**
- **EIN:** 276822130
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-24080
- **FILM NUMBER:** 261013744

**BUSINESS ADDRESS:**
- **STREET 1:** 3025 JFK BOULEVARD, OFC 500
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19104
- **BUSINESS PHONE:** 8776288575

**MAIL ADDRESS:**
- **STREET 1:** 3025 JFK BOULEVARD, OFC 500
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19104

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** New FS Specialty Lending Fund
- **DATE OF NAME CHANGE:** 20250425

## Nport-Ex

**FS Specialty Lending Fund**

**Unaudited Consolidated Schedule of Investments**

As of March 31, 2026 (in thousands, except share amounts)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio Company**<sup>(a)</sup> | **Footnotes** | **Industry** | **Rate**<sup>(b)</sup> | **Floor**<sup>(b)</sup> | **Maturity** | **Principal Amount**<sup>(c)</sup> | **Amortized Cost** | **Fair Value**<sup>(d)</sup> |
| **Senior Secured Loans—First Lien—105.8%** | **Senior Secured Loans—First Lien—105.8%** | **Senior Secured Loans—First Lien—105.8%** | | | | | | |
| &nbsp;&nbsp;&nbsp;Accupac, LLC | (j)(l)(n) | Pharmaceuticals, Biotechnology & Life Sciences | S+300, 6.0% PIK (6.0% Max PIK) | 2.0% | 12/31/29 | $47478 | $46690 | $39109 |
| &nbsp;&nbsp;&nbsp;Accupac, LLC | (e)(j)(l)(n) | Pharmaceuticals, Biotechnology & Life Sciences | S+300, 6.0% PIK (6.0% Max PIK) | 2.0% | 12/31/29 | 2089 | 2089 | 1721 |
| &nbsp;&nbsp;&nbsp;ACM US Finco LP | (n) | Consumer Discretionary Distribution & Retail | S+800 PIK (S+800 Max PIK) | 3.0% | 1/30/29 | 19868 | 19693 | 19669 |
| &nbsp;&nbsp;&nbsp;ADAN-B, LLC | (f)(n) | Consumer Services | S+575 | 1.5% | 12/31/30 | 31343 | 31119 | 31107 |
| &nbsp;&nbsp;&nbsp;ADAN-B, LLC | (n) | Consumer Services | S+575 | 1.5% | 12/31/30 | 1350 | 1317 | 1340 |
| &nbsp;&nbsp;&nbsp;ADAN-B, LLC | (e)(n) | Consumer Services | S+575 | 1.5% | 12/31/30 | 3150 | 3150 | 3126 |
| &nbsp;&nbsp;&nbsp;Alegeus Technologies Holdings Corp. | (f)(n) | Health Care Equipment & Services | S+650 | 1.0% | 11/5/29 | 29175 | 28620 | 27971 |
| &nbsp;&nbsp;&nbsp;American Auto Auction Group, LLC | (f) | Commercial & Professional Services | S+450 |  | 5/28/32 | 22770 | 22615 | 22664 |
| &nbsp;&nbsp;&nbsp;APTIM Corp. | (f) | Commercial & Professional Services | S+750 |  | 5/23/29 | 27500 | 27500 | 27603 |
| &nbsp;&nbsp;&nbsp;Archer Acquisition, LLC | (f)(n) | Commercial & Professional Services | S+500 | 1.0% | 10/6/29 | 11527 | 11422 | 11527 |
| &nbsp;&nbsp;&nbsp;Archer Acquisition, LLC | (e)(n) | Commercial & Professional Services | S+475 | 1.0% | 10/8/29 | 348 | 348 | 348 |
| &nbsp;&nbsp;&nbsp;Array Midco, Corp. | (f)(n) | Commercial & Professional Services | S+650 | 3.0% | 12/31/29 | 32395 | 31876 | 31666 |
| &nbsp;&nbsp;&nbsp;Brock Holdings III, LLC | (f)(m) | Capital Goods | S+600 | 0.5% | 5/2/30 | 10123 | 9981 | 10112 |
| &nbsp;&nbsp;&nbsp;By Light Professional IT Services, LLC | (n) | Software & Services | S+550 | 1.0% | 7/15/31 | 19444 | 19589 | 19055 |
| &nbsp;&nbsp;&nbsp;By Light Professional IT Services, LLC | (e)(n) | Software & Services | S+550 | 1.0% | 7/15/31 | 1408 | 1408 | 1380 |
| &nbsp;&nbsp;&nbsp;CCS Acquisition, LLC | (f)(n) | Health Care Equipment & Services | S+550 | 1.0% | 12/30/30 | 31114 | 30648 | 31425 |
| &nbsp;&nbsp;&nbsp;CCS Acquisition, LLC | (e)(n) | Health Care Equipment & Services | S+550 | 1.0% | 12/30/30 | 8571 | 8571 | 8657 |
| &nbsp;&nbsp;&nbsp;CF Exedra Bidco Ltd. | (n) | Consumer Services | SA+550 |  | 2/19/31 | £18800 | 24124 | 24787 |
| &nbsp;&nbsp;&nbsp;Chinos Intermediate 2, LLC | (f) | Consumer Discretionary Distribution & Retail | S+600 |  | 9/26/31 | $15840 | 15606 | 12537 |
| &nbsp;&nbsp;&nbsp;Circustrix Holdings, LLC | (n) | Consumer Services | S+675 | 1.0% | 7/18/28 | 10731 | 10543 | 10678 |
| &nbsp;&nbsp;&nbsp;CircusTrix Holdings, LLC | (f)(n) | Consumer Services | S+675 | 1.0% | 7/18/28 | 23090 | 23090 | 22975 |
| &nbsp;&nbsp;&nbsp;CircusTrix Holdings, LLC | (e)(n) | Consumer Services | S+675 | 1.0% | 7/18/28 | 538 | 538 | 535 |
| &nbsp;&nbsp;&nbsp;COP Village Green Acquisitions, Inc. | (f)(n) | Real Estate Management & Development | S+475 | 1.0% | 9/26/30 | 15964 | 15749 | 15964 |
| &nbsp;&nbsp;&nbsp;COP Village Green Acquisitions, Inc. | (e)(n) | Real Estate Management & Development | S+475 | 1.0% | 9/26/30 | 6345 | 6345 | 6345 |
| &nbsp;&nbsp;&nbsp;CPM Holdings, Inc. | (f)(m) | Capital Goods | S+450 | 0.5% | 9/28/28 | 26432 | 26448 | 26484 |
| &nbsp;&nbsp;&nbsp;Delivery Hero Finco, LLC | (f) | Consumer Services | S+500 | 0.5% | 12/12/29 | 24500 | 24445 | 24125 |
| &nbsp;&nbsp;&nbsp;Digicel International Finance Ltd. |  | Telecommunication Services | S+525 |  | 8/6/32 | 10673 | 10576 | 10686 |
| &nbsp;&nbsp;&nbsp;Exemplis LLC | (n) | Commercial & Professional Services | S+525 | 0.8% | 12/22/32 | 18078 | 18220 | 17829 |
| &nbsp;&nbsp;&nbsp;Exemplis LLC | (e)(n) | Commercial & Professional Services | S+525 | 0.8% | 12/22/32 | 4286 | 4286 | 4232 |
| &nbsp;&nbsp;&nbsp;EyeCare Partners, LLC | (f) | Health Care Equipment & Services | S+575 |  | 8/31/28 | 20333 | 20283 | 20158 |
| &nbsp;&nbsp;&nbsp;Frozen Garlic Bread Holdings, Inc. | (n) | Food, Beverage & Tobacco | S+475 | 0.8% | 2/6/32 | 13252 | 13362 | 13136 |
| &nbsp;&nbsp;&nbsp;Frozen Garlic Bread Holdings, Inc. | (e)(n) | Food, Beverage & Tobacco | S+475 | 0.8% | 2/6/32 | 4248 | 4248 | 4210 |
| &nbsp;&nbsp;&nbsp;Future Pak, LLC | (f)(n) | Materials | S+625 | 2.0% | 3/21/30 | 29920 | 29418 | 29359 |

---

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Specialty Lending Fund**

**Unaudited Consolidated Schedule of Investments (continued)**

As of March 31, 2026 (in thousands, except share amounts)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio Company**<sup>(a)</sup> | **Footnotes** | **Industry** | **Rate**<sup>(b)</sup> | **Floor**<sup>(b)</sup> | **Maturity** | **Principal Amount**<sup>(c)</sup> | **Amortized Cost** | **Fair Value**<sup>(d)</sup> |
| &nbsp;&nbsp;&nbsp;Gen4 Dental Partners Opco, LLC | (f)(n) | Health Care Equipment & Services | S+550 | 1.0% | 5/13/30 | $23159 | $22713 | $22348 |
| &nbsp;&nbsp;&nbsp;Gen4 Dental Partners Opco, LLC | (e)(n) | Health Care Equipment & Services | S+550 | 1.0% | 5/13/30 | 7857 | 7857 | 7582 |
| &nbsp;&nbsp;&nbsp;Harrel-Fish, LLC | (n) | Capital Goods | S+550 | 1.0% | 12/3/31 | 29182 | 28668 | 29182 |
| &nbsp;&nbsp;&nbsp;Harrel-Fish, LLC | (e)(n) | Capital Goods | S+550 | 1.0% | 12/3/31 | 10818 | 10818 | 10818 |
| &nbsp;&nbsp;&nbsp;HMN Acquirer Corp. | (n) | Media & Entertainment | S+450 | 1.0% | 11/5/31 | 15544 | 15363 | 15719 |
| &nbsp;&nbsp;&nbsp;HMN Acquirer Corp. | (e)(n) | Media & Entertainment | S+450 | 1.0% | 11/5/31 | 9259 | 9259 | 9363 |
| &nbsp;&nbsp;&nbsp;HMP Omnimedia, LLC | (n) | Media & Entertainment | S+525 | 1.0% | 7/30/32 | 21641 | 21791 | 21127 |
| &nbsp;&nbsp;&nbsp;HMP Omnimedia, LLC | (e)(n) | Media & Entertainment | S+525 | 1.0% | 7/30/32 | 5625 | 5625 | 5491 |
| &nbsp;&nbsp;&nbsp;HMP Omnimedia, LLC | (e)(n) | Media & Entertainment | S+525 | 1.0% | 7/31/30 | 5625 | 5625 | 5520 |
| &nbsp;&nbsp;&nbsp;IXS Holdings, Inc. | (f) | Automobiles & Components | S+550 | 1.0% | 9/5/29 | 34684 | 34068 | 34688 |
| &nbsp;&nbsp;&nbsp;Jonathan Acquisition Co. | (n) | Capital Goods | S+450 | 1.0% | 11/12/29 | 14124 | 13930 | 13930 |
| &nbsp;&nbsp;&nbsp;Jonathan Acquisition Co. | (n) | Capital Goods | S+450 | 1.0% | 5/11/29 | 173 | 147 | 171 |
| &nbsp;&nbsp;&nbsp;Jonathan Acquisition Co. | (e)(n) | Capital Goods | S+450 | 1.0% | 5/11/29 | 1560 | 1560 | 1541 |
| &nbsp;&nbsp;&nbsp;Lance East Holdings Pty Ltd. | (n) | Consumer Services | S+750 | 3.0% | 8/20/28 | 2924 | 2799 | 3728 |
| &nbsp;&nbsp;&nbsp;LaserShip, Inc. | (f) | Transportation | S+625 | 0.8% | 1/2/29 | 24792 | 24952 | 25121 |
| &nbsp;&nbsp;&nbsp;Lawn & Garden, LLC | (n) | Consumer Durables & Apparel | S+750 | 3.0% | 10/21/29 | 31667 | 31078 | 31112 |
| &nbsp;&nbsp;&nbsp;LHS Borrower, LLC | (f)(n) | Capital Goods | S+525 | 0.8% | 9/4/31 | 33447 | 32982 | 32945 |
| &nbsp;&nbsp;&nbsp;LHS Borrower, LLC | (n) | Capital Goods | S+525 | 0.8% | 9/4/31 | 668 | 630 | 658 |
| &nbsp;&nbsp;&nbsp;LHS Borrower, LLC | (e)(n) | Capital Goods | S+525 | 0.8% | 9/4/31 | 1902 | 1902 | 1874 |
| &nbsp;&nbsp;&nbsp;LR Orion Bidco Ltd. | (n) | Software & Services | S+525 |  | 11/22/31 | 24377 | 24584 | 24133 |
| &nbsp;&nbsp;&nbsp;LR Orion Bidco Ltd. | (e)(n) | Software & Services | SA+275 | 1.0% | 5/22/31 | £3468 | 4348 | 4251 |
| &nbsp;&nbsp;&nbsp;LR Orion Bidco Ltd. | (e)(n) | Software & Services | S+550 |  | 11/22/31 | $4839 | 4839 | 4790 |
| &nbsp;&nbsp;&nbsp;LSCS Holdings, Inc. | (f) | Health Care Equipment & Services | S+450 |  | 3/4/32 | 11509 | 11458 | 10861 |
| &nbsp;&nbsp;&nbsp;LTC Consulting Services, LLC | (n) | Health Care Equipment & Services | S+450 | 1.0% | 5/1/31 | 23309 | 23088 | 23076 |
| &nbsp;&nbsp;&nbsp;LTC Consulting Services, LLC | (e)(n) | Health Care Equipment & Services | S+450 | 1.0% | 5/1/31 | 1515 | 1515 | 1500 |
| &nbsp;&nbsp;&nbsp;M2S Group Intermediate Holdings, Inc. | (f) | Materials | S+475 | 0.5% | 8/25/31 | 27345 | 25749 | 26775 |
| &nbsp;&nbsp;&nbsp;Magnera Corp. | (f) | Materials | S+425 |  | 11/4/31 | 8995 | 8946 | 8657 |
| &nbsp;&nbsp;&nbsp;Management Health Systems, LLC | (f)(n) | Health Care Equipment & Services | S+625 | 1.0% | 12/31/27 | 26301 | 26118 | 26005 |
| &nbsp;&nbsp;&nbsp;Mannington Mills, Inc. | (f) | Capital Goods | S+475 |  | 3/25/32 | 39799 | 39458 | 39202 |
| &nbsp;&nbsp;&nbsp;MASSiv Brands, LLC | (n) | Consumer Durables & Apparel | 10.0%, 5.0% PIK (5.0% Max PIK) |  | 7/2/30 | 41530 | 40637 | 40336 |
| &nbsp;&nbsp;&nbsp;Maverick Power, LLC | (n) | Capital Goods | S+500 | 1.0% | 5/4/31 | 19950 | 19663 | 19676 |
| &nbsp;&nbsp;&nbsp;Mood Media Borrower, LLC | (n) | Media & Entertainment | S+675 | 2.0% | 5/30/30 | 5642 | 5588 | 5592 |
| &nbsp;&nbsp;&nbsp;Mood Media Borrower, LLC | (e)(n) | Media & Entertainment | S+675 | 2.0% | 5/30/30 | 317 | 317 | 314 |
| &nbsp;&nbsp;&nbsp;National Mentor Holdings, Inc. | (m) | Health Care Equipment & Services | S+600 |  | 12/12/30 | 10000 | 10030 | 9970 |
| &nbsp;&nbsp;&nbsp;NES Hercules Class B Member, LLC | (n) | Energy | S+178 |  | 1/31/28 | 22817 | 21488 | 21790 |
| &nbsp;&nbsp;&nbsp;New WPCC Parent, LLC | (n)(p) | Health Care Equipment & Services | S+950 | 2.0% | 5/9/30 | 8925 | 8883 | 8925 |
| &nbsp;&nbsp;&nbsp;Nickerson NY, LLC | (n) | Commercial & Professional Services | S+525 | 1.0% | 3/19/32 | 13541 | 13225 | 13338 |
| &nbsp;&nbsp;&nbsp;Nickerson NY, LLC | (e)(n) | Commercial & Professional Services | S+525 | 1.0% | 3/19/32 | 10105 | 10105 | 9992 |

---

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Specialty Lending Fund**

**Unaudited Consolidated Schedule of Investments (continued)**

As of March 31, 2026 (in thousands, except share amounts)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio Company**<sup>(a)</sup> | **Footnotes** | **Industry** | **Rate**<sup>(b)</sup> | **Floor**<sup>(b)</sup> | **Maturity** | **Principal Amount**<sup>(c)</sup> | **Amortized Cost** | **Fair Value**<sup>(d)</sup> |
| &nbsp;&nbsp;&nbsp;Olibre Borrower, LLC | (n) | Consumer Durables & Apparel | S+575 | 1.0% | 1/3/30 | $39500 | $38873 | $38858 |
| &nbsp;&nbsp;&nbsp;Onbe, Inc. | (f)(n) | Financial Services | S+550 | 1.0% | 7/25/31 | 37525 | 36910 | 36774 |
| &nbsp;&nbsp;&nbsp;Orange Hibiscus, LLC | (n) | Health Care Equipment & Services | S+550 |  | 3/6/31 | 18219 | 17866 | 17945 |
| &nbsp;&nbsp;&nbsp;Orange Hibiscus, LLC | (e)(n) | Health Care Equipment & Services | S+550 |  | 3/6/31 | 9281 | 9281 | 9142 |
| &nbsp;&nbsp;&nbsp;Padagis LLC | (m) | Pharmaceuticals, Biotechnology & Life Sciences | S+475 | 0.5% | 7/6/28 | 3584 | 3352 | 3306 |
| &nbsp;&nbsp;&nbsp;Phoenix Rehabilitation and Health Services, Inc. | (n) | Health Care Equipment & Services | S+600 | 1.0% | 9/29/30 | 19833 | 19352 | 19461 |
| &nbsp;&nbsp;&nbsp;Phoenix Rehabilitation and Health Services, Inc. | (n) | Health Care Equipment & Services | 14.0% PIK (14.0% Max PIK) |  | 9/29/30 | 5318 | 5225 | 5498 |
| &nbsp;&nbsp;&nbsp;Phoenix Rehabilitation and Health Services, Inc. | (e)(n) | Health Care Equipment & Services | S+600 | 1.0% | 9/29/30 | 7647 | 7647 | 7504 |
| &nbsp;&nbsp;&nbsp;Plainfield Renewable Energy Holdings LLC | (j)(l)(n) | Energy | 6.0%, 9.5% PIK (9.5% Max PIK) |  | 5/23/26 | 17640 | 11238 | 4922 |
| &nbsp;&nbsp;&nbsp;Plainfield Renewable Energy Holdings LLC | (j)(l)(n) | Energy | 10.0% PIK (10.0% Max PIK) |  | 5/23/26 | 4880 | 3827 |  |
| &nbsp;&nbsp;&nbsp;Plainfield Renewable Energy Holdings LLC, Letter of Credit | (e)(n) | Energy | 10.0% |  | 8/20/27 | 2344 | 2344 |  |
| &nbsp;&nbsp;&nbsp;Pretium PKG Holdings, Inc. | (m) | Materials | S+525 |  | 3/2/31 | 7270 | 7268 | 7260 |
| &nbsp;&nbsp;&nbsp;Project Granite Buyer, Inc. | (f)(n) | Insurance | S+575 | 0.8% | 12/31/31 | 15849 | 15508 | 15869 |
| &nbsp;&nbsp;&nbsp;Project Granite Buyer, Inc. | (n) | Insurance | S+525 | 1.0% | 12/31/31 | 2500 | 2450 | 2450 |
| &nbsp;&nbsp;&nbsp;Project Granite Buyer, Inc. | (e)(n) | Insurance | S+575 | 0.8% | 12/31/31 | 1480 | 1480 | 1482 |
| &nbsp;&nbsp;&nbsp;Project Granite Buyer, Inc. | (e)(n) | Insurance | S+575 | 0.8% | 12/31/30 | 2470 | 2470 | 2476 |
| &nbsp;&nbsp;&nbsp;RealTruck Group, Inc. | (f) | Automobiles & Components | S+375 | 0.8% | 1/31/28 | 24371 | 23928 | 16626 |
| &nbsp;&nbsp;&nbsp;Recovery Solutions Parent, LLC | (n)(p) | Health Care Equipment & Services | S+750 (8.5% Max PIK) | 2.0% | 1/28/30 | 9408 | 9408 | 9408 |
| &nbsp;&nbsp;&nbsp;Revlon Intermediate Holdings IV, LLC | (f) | Household & Personal Products | S+688 | 1.0% | 5/2/28 | 14775 | 14798 | 14577 |
| &nbsp;&nbsp;&nbsp;RPC TopCo, Inc. | (n) | Consumer Durables & Apparel | S+450 | 1.0% | 8/29/31 | 20391 | 20093 | 20391 |
| &nbsp;&nbsp;&nbsp;RPC TopCo, Inc. | (e)(n) | Consumer Durables & Apparel | S+450 | 1.0% | 8/29/31 | 3030 | 3030 | 3030 |
| &nbsp;&nbsp;&nbsp;Shepherd Intermediate, LLC | (n) | Commercial & Professional Services | S+725 | 1.0% | 7/10/30 | 15527 | 15265 | 15722 |
| &nbsp;&nbsp;&nbsp;Shepherd Intermediate, LLC | (e)(n) | Commercial & Professional Services | S+725 | 1.0% | 7/10/30 | 6250 | 6250 | 6328 |
| &nbsp;&nbsp;&nbsp;Speedway Buyer, Inc. | (f)(n) | Commercial & Professional Services | S+525 | 0.8% | 1/27/32 | 26067 | 26466 | 25936 |
| &nbsp;&nbsp;&nbsp;Speedway Buyer, Inc. | (n) | Commercial & Professional Services | S+525 | 0.8% | 1/27/32 | 1654 | 1645 | 1646 |
| &nbsp;&nbsp;&nbsp;Speedway Buyer, Inc. | (e)(n) | Commercial & Professional Services | S+525 | 0.8% | 1/27/32 | 6618 | 6618 | 6585 |
| &nbsp;&nbsp;&nbsp;Spinrite, Inc. | (n) | Consumer Durables & Apparel | S+750 | 3.0% | 12/5/30 | 27576 | 26978 | 27334 |
| &nbsp;&nbsp;&nbsp;Spinrite, Inc. | (e)(n) | Consumer Durables & Apparel | S+750 | 3.0% | 12/5/30 | 3987 | 3987 | 3952 |
| &nbsp;&nbsp;&nbsp;Stryten Energy Resources, LLC | (n) | Capital Goods | S+550 | 1.0% | 12/18/29 | 31969 | 31450 | 31489 |
| &nbsp;&nbsp;&nbsp;Tikehau Sonic S.a.r.l. | (n) | Capital Goods | S+500 (2.0% Max PIK) |  | 12/15/32 | 2640 | 2705 | 2572 |
| &nbsp;&nbsp;&nbsp;Tikehau Sonic S.a.r.l. | (n) | Capital Goods | E+500 |  | 12/15/32 | 2256 | 2607 | 2613 |
| &nbsp;&nbsp;&nbsp;Tikehau Sonic S.a.r.l. | (e)(n) | Capital Goods | E+500 |  | 12/15/32 | 244 | 284 | 287 |
| &nbsp;&nbsp;&nbsp;Tikehau Sonic S.a.r.l. | (e)(n) | Capital Goods | E+450 |  | 6/15/32 | 244 | 284 | 278 |
| &nbsp;&nbsp;&nbsp;Titan Purchaser, Inc. | (f) | Materials | S+600 |  | 3/1/30 | $12299 | 12221 | 12392 |
| &nbsp;&nbsp;&nbsp;Trimlight, Inc. | (f)(n) | Consumer Discretionary Distribution & Retail | S+600 | 1.5% | 5/6/30 | 25076 | 24519 | 24700 |

---

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Specialty Lending Fund**

**Unaudited Consolidated Schedule of Investments (continued)**

As of March 31, 2026 (in thousands, except share amounts)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio Company**<sup>(a)</sup> | **Footnotes** | **Industry** | **Rate**<sup>(b)</sup> | **Floor**<sup>(b)</sup> | **Maturity** | **Principal Amount**<sup>(c)</sup> | **Amortized Cost** | **Fair Value**<sup>(d)</sup> |
| &nbsp;&nbsp;&nbsp;Trimlight, Inc. | (e)(n) | Consumer Discretionary Distribution & Retail | S+600 | 1.5% | 5/6/30 | $3158 | $3158 | $3111 |
| &nbsp;&nbsp;&nbsp;TruGreen, LP | (f) | Commercial & Professional Services | S+400 | 0.8% | 11/2/27 | 24332 | 23662 | 23238 |
| &nbsp;&nbsp;&nbsp;United Natural Foods, Inc. | (f) | Consumer Staples Distribution & Retail | S+475 |  | 5/1/31 | 2445 | 2406 | 2462 |
| &nbsp;&nbsp;&nbsp;Vibrantz Technologies, Inc. | (m) | Materials | S+625 | 0.5% | 4/30/30 | 6000 | 6000 | 5994 |
| &nbsp;&nbsp;&nbsp;WMK, LLC | (f)(n) | Consumer Discretionary Distribution & Retail | S+500, 2.5% PIK (2.5% Max PIK) | 3.0% | 1/25/28 | 32312 | 31682 | 31221 |
| &nbsp;&nbsp;&nbsp;WMK, LLC | (e)(n) | Consumer Discretionary Distribution & Retail | S+500, 2.5% PIK (2.5% Max PIK) | 3.0% | 1/25/28 | 2333 | 2333 | 2255 |
| &nbsp;&nbsp;&nbsp;Wok Holdings, Inc. | (f) | Consumer Services | S+625 |  | 9/3/29 | 22143 | 21442 | 15961 |
| **Total Senior Secured Loans—First Lien** | **Total Senior Secured Loans—First Lien** | **Total Senior Secured Loans—First Lien** |  |  |  |  | 1624033 | 1587676 |
| Unfunded Commitments |  |  |  |  |  |  | (143919) | (143919) |
| **Net Senior Secured Loans—First Lien** | **Net Senior Secured Loans—First Lien** | **Net Senior Secured Loans—First Lien** |  |  |  |  | 1480114 | 1443757 |
| **Senior Secured Loans—Second Lien—2.1%** | **Senior Secured Loans—Second Lien—2.1%** | **Senior Secured Loans—Second Lien—2.1%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;MBS Services Holdings, LLC | (j)(l)(n) | Commercial & Professional Services | 17.0% PIK (17.0% Max PIK) |  | 9/20/30 | 38822 | 34916 | 7416 |
| &nbsp;&nbsp;&nbsp;Tenrgys, LLC | (f)(n) | Energy | S+950 PIK (S+950 Max PIK) | 1.0% | 3/17/27 | 21946 | 21946 | 21507 |
| **Total Senior Secured Loans—Second Lien** | **Total Senior Secured Loans—Second Lien** | **Total Senior Secured Loans—Second Lien** |  |  |  |  | 56862 | 28923 |
| **Senior Secured Bonds—3.9%** | **Senior Secured Bonds—3.9%** | **Senior Secured Bonds—3.9%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Full House Resorts, Inc. | (f)(g) | Consumer Services | 8.3% |  | 2/15/28 | 25742 | 24490 | 23490 |
| &nbsp;&nbsp;&nbsp;Guitar Center, Inc. | (f)(g) | Consumer Discretionary Distribution & Retail | 8.5%, 3.5% PIK (3.5% Max PIK) |  | 1/15/29 | 24997 | 20651 | 20123 |
| &nbsp;&nbsp;&nbsp;Universal Entertainment Corp. | (g) | Consumer Durables & Apparel | 9.9% |  | 8/1/29 | 9625 | 9557 | 9325 |
| **Total Senior Secured Bonds** | **Total Senior Secured Bonds** | **Total Senior Secured Bonds** |  |  |  |  | 54698 | 52938 |
| **Unsecured Debt—3.3%** | **Unsecured Debt—3.3%** | **Unsecured Debt—3.3%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Leia Acquisition Ltd. | (n) | Commercial & Professional Services | 10.0% PIK (10.0% Max PIK) |  | 7/1/29 | 415 | 415 | 415 |
| &nbsp;&nbsp;&nbsp;Pioneer Midco, LLC | (f)(n) | Consumer Services | 11.6% PIK (11.6% Max PIK) |  | 11/18/30 | 44350 | 44364 | 44627 |
| **Total Unsecured Debt** | **Total Unsecured Debt** | **Total Unsecured Debt** |  |  |  |  | 44779 | 45042 |
| **Asset Based Finance—2.8%** | **Asset Based Finance—2.8%** | **Asset Based Finance—2.8%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Bridge Street CLO IV Ltd., Subordinated Notes | (g)(n)(o)(p) | Financial Services | 18.5% |  | 4/20/37 | 23700 | 21528 | 14477 |
| &nbsp;&nbsp;&nbsp;Bridge Street CLO V Ltd., Subordinated Notes | (g)(n)(o)(p) | Financial Services | 18.5% |  | 4/20/38 | 19500 | 16717 | 14081 |
| &nbsp;&nbsp;&nbsp;Bridge Street CLO VI Ltd., Subordinated Notes | (g)(n)(o)(p) | Financial Services | 17.9% |  | 1/15/39 | 11100 | 10294 | 9475 |
| **Total Asset Based Finance** |  |  |  |  |  |  | 48539 | 38033 |

---

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Specialty Lending Fund**

**Unaudited Consolidated Schedule of Investments (continued)**

As of March 31, 2026 (in thousands, except share amounts)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio Company**<sup>(a)</sup> | **Footnotes** | **Industry** | **Rate**<sup>(b)</sup> | **Floor**<sup>(b)</sup> | **Shares/Units/Number of Contracts** | **Cost** | **Fair**<br>**Value**<sup>(d)</sup> |
| **Equity/Other—2.3%** | | | | | | | |
| &nbsp;&nbsp;&nbsp;Global Jet Capital Holdings, LP, Preferred Equity | (l)(n) | Commercial & Professional Services |  |  | 17183 | $9806 | $8248 |
| &nbsp;&nbsp;&nbsp;Harrel-Fish, LLC, Common Equity | (k)(l)(n) | Capital Goods |  |  | 26429 | 26 | 33 |
| &nbsp;&nbsp;&nbsp;Harvest Oil & Gas Corp., Common Equity | (l)(n)(p) | Energy |  |  | 135062 | 14418 | 397 |
| &nbsp;&nbsp;&nbsp;MASSiv Brands, LLC, Common Equity | (k)(n) | Consumer Durables & Apparel |  |  | 363636 | 86 | 1943 |
| &nbsp;&nbsp;&nbsp;MBS Services Holdings, LLC, A-3 Units | (k)(l)(n) | Commercial & Professional Services |  |  | 522382 | 522 |  |
| &nbsp;&nbsp;&nbsp;New WPCC Parent, LLC, Common Equity | (f)(l)(n)(p) | Health Care Equipment & Services |  |  | 274668 | 12 | 1167 |
| &nbsp;&nbsp;&nbsp;New WPCC Parent, LLC, Preferred Equity | (n)(p) | Health Care Equipment & Services | 13.0% PIK (13.0% Max PIK) |  | 3975 | 3053 | 3975 |
| &nbsp;&nbsp;&nbsp;Recovery Solutions Parent, LLC, Common Equity | (l)(n)(p) | Health Care Equipment & Services |  |  | 544661 | 12134 | 12925 |
| &nbsp;&nbsp;&nbsp;SPDR S&P 500 ETF Trust, Put Option, 4/17/26, Strike: $610 | (l) | Financial Services |  |  | 3 | 1927 | 721 |
| &nbsp;&nbsp;&nbsp;SPDR S&P 500 ETF Trust, Put Option, 5/15/26, Strike: $600 | (l) | Financial Services |  |  | 2 | 2298 | 1216 |
| &nbsp;&nbsp;&nbsp;Telpico, LLC, Common Equity | (k)(l)(n)(p) | Energy |  |  | 50 |  |  |
| &nbsp;&nbsp;&nbsp;Tenrgys, LLC, Common Equity | (k)(l)(n) | Energy |  |  | 50 | 7571 | 344 |
| **Total Equity/Other** |  |  |  |  |  | 51853 | 30969 |
| **TOTAL INVESTMENTS—120.2%** |  |  |  |  |  | $1736845 | 1639662 |
| **Cash and Cash Equivalents, Restricted Cash and Foreign Currency—19.1%** | (h) |  |  |  |  |  | 260384 |
| **Credit Facilities Payable—(37.7%)** |  |  |  |  |  |  | (514655) |
| **Other Liabilities in Excess of Assets—(1.6%)** | (i) |  |  |  |  |  | (20918) |
| **NET ASSETS—100.0%** |  |  |  |  |  |  | $1364473 |

---

_________________

€ – Euro.

£– British Pound.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | | | | | | |
| **Counterparty** | **Contract Settlement Date** | **Currency and Amount to be Received** | **Currency and Amount to be Received** | **Currency and Amount to be Delivered** | **Currency and Amount to be Delivered** | **Unrealized Appreciation** |<br>**Unrealized Depreciation** |
| Nomura Global Financial Products, Inc. | 05/26/26 | USD | 24927 | GBP | 18600 | $407 | $— |
| Nomura Global Financial Products, Inc. | 05/26/26 | USD | 2550 | EUR | 2200 | 10 |  |
| **Total** | **Total** | **Total** | **Total** | **Total** | **Total** | $417 | $— |

---

_________________

USD – US Dollar.

GBP – British Pound.

EUR – Euro.

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Specialty Lending Fund**

**Unaudited Consolidated Schedule of Investments (continued)**

As of March 31, 2026 (in thousands, except share amounts)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Options Written** | **Options Written** | | | | | |
| **Description** | **Put/Call** | **Strike** | **Expiration Date** | **Number of Contracts** | **Premiums Received** |<br>**Fair Value**<sup>(d)</sup> |
| SPDR S+P 500 ETF Trust | Put Option | 575 | 4/17/26 | (2650) | $(862) | $(260) |
| SPDR S+P 500 ETF Trust | Put Option | 570 | 5/15/26 | (2000) | (1304) | (672) |
| **Total** | **Total** | **Total** | **Total** | **Total** | $(2166) | $(932) |

---

(a) Security may be an obligation of one or more entities affiliated with the named company.

(b) Certain variable rate securities in the Fund's portfolio bear interest at a rate determined by a publicly disclosed base rate plus a basis point spread. As of March 31, 2026, the three-month Sterling Overnight Index Average, or SONIA, or SA was 3.85%, the three-month Euro Inter Bank Offered Rate, or Euribor, or E was 2.08% and the one-month and three-month Term Secured Overnight Financing Rate, or Term SOFR, or S, was 3.66% and 3.68%, respectively. Term SOFR based contracts may include a credit spread adjustment that is charged in addition to the base rate and basis point spread. PIK means paid-in-kind. PIK income accruals may be adjusted based on the fair value of the underlying investment. Variable rate securities with no floor rate use the respective benchmark rate in all cases.

(c) Denominated in U.S. dollars, unless otherwise noted.

(d) Fair value is determined by the Fund's investment adviser, FS Specialty Lending Advisor, or the Advisor, which has been designated by the Fund's board of trustees as its valuation designee.

(e) Security is an unfunded commitment.

(f) Security or portion thereof held within FSSL Finance BB AssetCo LLC, a wholly-owned subsidiary of the Fund, and is pledged as collateral supporting the obligations outstanding under the repurchase facility with Barclays Bank PLC.

(g) Exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be deemed liquid by the investment adviser and may be resold, normally to qualified institutional buyers in transactions exempt from registration. As of March 31, 2026, the total market value of Rule 144A securities amounted to $90,971, which represented approximately 6.7% of net assets.

(h) Includes $77,491 of a cash equivalent invested in the Allspring Government Money Market Fund with a 7-day yield of 3.60% as of March 31, 2026.

(i) Includes the effect of forward foreign currency exchange contracts and options written.

(j) Security was on non-accrual status as of March 31, 2026.

(k) Security held within FSEP Investments, Inc., a wholly-owned subsidiary of the Fund.

(l) Security is non-income producing.

(m) Security or portion thereof unsettled as of March 31, 2026.

(n) Security is classified as Level 3 in the Fund's fair value hierarchy.

(o) Securities of collateralized loan obligations, or CLOs, where an affiliate of the Fund's investment adviser serves as collateral manager and administrator. The stated rate on these securities may represent the annualized yield as of March 31, 2026.

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Specialty Lending Fund**

**Unaudited Consolidated Schedule of Investments (continued)**

As of March 31, 2026 (in thousands, except share amounts)

(p) Under the Investment Company Act of 1940, as amended, the Fund generally is deemed to be an "affiliated person" of a portfolio company if it owns 5% or more of the portfolio company's voting securities and generally is deemed to "control" a portfolio company if it owns more than 25% of the portfolio company's voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of March 31, 2026, the Fund held investments in portfolio companies of which it is deemed to be an "affiliated person" but is not deemed to "control." The following table presents certain information with respect to investments in portfolio companies of which the Fund was deemed to be an affiliated person as of March 31, 2026:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio Company** | **Fair Value at<br>December 31, 2025** | **Gross Additions**<sup>(1)</sup> | **Gross Reductions**<sup>(2)</sup> | **Net Realized Gain (Loss)** | **Net Change in Unrealized Appreciation (Depreciation)** | **Fair Value at**<br>**March 31, 2026** | **Interest Income**<sup>(3)</sup> | **Fee Income**<sup>(3)</sup> |
| **Senior Secured Loans—First Lien** | | | | | | | | |
| &nbsp;&nbsp;New WPCC Parent, LLC | $5679 | $4179 | $(975) | $— | $42 | $8925 | $216 | $25 |
| &nbsp;&nbsp;Recovery Solutions Parent, LLC | 9431 |  | (23) |  |  | 9408 | 263 |  |
| **Asset Based Finance** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Bridge Street CLO IV Ltd., Subordinated Notes | 14937 |  | (360) |  | (100) | 14477 | 472 |  |
| &nbsp;&nbsp;&nbsp;Bridge Street CLO V Ltd., Subordinated Notes | 14951 |  | (98) |  | (772) | 14081 | 679 |  |
| &nbsp;&nbsp;Bridge Street CLO VI Ltd., Subordinated Notes | 9073 |  | (44) |  | 446 | 9475 | 368 |  |
| **Equity/Other** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Harvest Oil & Gas Corp., Common Equity | 408 |  |  |  | (11) | 397 |  |  |
| &nbsp;&nbsp;New WPCC Parent, LLC, Common Equity |  | 3 |  |  | 1164 | 1167 |  |  |
| &nbsp;&nbsp;New WPCC Parent, LLC, Preferred Equity | 3486 | 200 |  |  | 289 | 3975 | 121 |  |
| &nbsp;&nbsp;Recovery Solutions Parent, LLC, Common Equity | 12681 | 239 |  |  | 5 | 12925 |  |  |
| &nbsp;&nbsp;Telpico, LLC, Common Equity |  |  |  |  |  |  |  |  |
| **Total** | $70646 | $4621 | $(1500) | $— | $1063 | $74830 | $2119 | $25 |

---

_________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)Interest income and Fee income presented for the three months ended March 31, 2026.

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Specialty Lending Fund**

**Notes to Unaudited Consolidated Schedule of Investments**

As of March 31, 2026 (in thousands)

**Investment Portfolio**

*The information contained in this section should be read in conjunction with the Fund's audited consolidated financial statements contained in its annual report for the fiscal year ended December 31, 2025.*

In general, under the 1940 Act, the Fund would be presumed to "control" a portfolio company if it owned more than 25% of its voting securities or had the power to exercise control over the management or policies of a portfolio company, and would be an "affiliated person" of a portfolio company if it owned 5% or more of its voting securities.

As of March 31, 2026, the Fund held investments in seven portfolio companies of which it is deemed to be an "affiliated person" but is not deemed to "control." For additional information with respect to such portfolio companies, see footnote (p) to the unaudited consolidated schedule of investments as of March 31, 2026 included herein.

The Fund's investment portfolio may contain loans that are in the form of lines of credit or revolving credit facilities, which require the Fund to provide funding when requested by portfolio companies in accordance with the terms of the underlying loan agreements. As of March 31, 2026, the Fund had thirty senior secured loan investments with aggregate unfunded commitments of $143,919. The Fund maintains sufficient cash on hand and/or available borrowings to fund such unfunded commitments should the need arise.

The table below describes investments by industry classification and enumerates the percentage, by fair value, of the total portfolio assets in such industries as of March 31, 2026:

---

| | | |
|:---|:---|:---|
| **Industry Classification** | **Fair Value** | **Percentage of Portfolio** |
| Health Care Equipment & Services | $250632 | 15% |
| Capital Goods | 209017 | 13% |
| Commercial & Professional Services | 207126 | 13% |
| Consumer Services | 202791 | 12% |
| Consumer Durables & Apparel | 169264 | 10% |
| Consumer Discretionary Distribution & Retail | 108125 | 6% |
| Materials | 90437 | 6% |
| Financial Services | 76744 | 5% |
| Automobiles & Components | 51314 | 3% |
| Energy | 46616 | 3% |
| Software & Services | 43014 | 3% |
| Media & Entertainment | 42300 | 3% |
| Pharmaceuticals, Biotechnology & Life Sciences | 42047 | 2% |
| Transportation | 25121 | 1% |
| Insurance | 18327 | 1% |
| Real Estate Management & Development | 15964 | 1% |
| Household & Personal Products | 14577 | 1% |
| Food, Beverage & Tobacco | 13098 | 1% |
| Telecommunication Services | 10686 | 1% |
| Consumer Staples Distribution & Retail | 2462 | 0% |
| Total | $1639662 | 100% |

---

Under existing accounting guidance, fair value is defined as the price that the Fund would receive upon selling an asset or pay to transfer a liability in an orderly transaction to a market participant in the principal or most advantageous market for the investment. This accounting guidance emphasizes valuation techniques that maximize the use of observable market inputs and minimize the use of unobservable inputs. Inputs refer broadly to the assumptions that market participants would use in pricing an 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 an asset or liability developed based on market data obtained from sources independent of the Fund. Unobservable inputs are inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances. The Fund classifies the inputs used to measure these fair values into the following hierarchy as defined by current accounting guidance:

*Level 1*: Inputs that are quoted prices (unadjusted) in active markets for identical assets or liabilities.

*Level 2*: Inputs that are quoted prices for similar assets or liabilities in active markets.

*Level 3*: Inputs that are unobservable for an asset or liability.

A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

As of March 31, 2026, the Fund's investments and derivatives were categorized as follows in the fair value hierarchy:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;Senior Secured Loans—First Lien | $— | $411459 | $1032298 | $1443757 |
| &nbsp;&nbsp;&nbsp;Senior Secured Loans—Second Lien |  |  | 28923 | 28923 |
| &nbsp;&nbsp;&nbsp;Senior Secured Bonds |  | 52938 |  | 52938 |
| &nbsp;&nbsp;&nbsp;Unsecured Debt |  |  | 45042 | 45042 |
| &nbsp;&nbsp;&nbsp;Asset Based Finance |  |  | 38033 | 38033 |
| &nbsp;&nbsp;&nbsp;Equity/Other | 1937 |  | 29032 | 30969 |
| Total Investments | $1937 | $464397 | $1173328 | $1639662 |

---

As of March 31, 2026, the Fund also had a cash equivalent invested in the Allspring Government Money Market Fund with a fair value of $77,491, categorized as Level 1 in the fair value hierarchy. As of March 31, 2026, the Fund had forward foreign currency exchange contracts with a fair value of $417 and options written with a fair value of $(932), which are categorized as Level 2 in the fair value hierarchy.

The following is a reconciliation of investments for which significant unobservable inputs (Level 3) were used in determining fair value for the three months ended March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Senior Secured Loans—First Lien** | **Senior Secured Loans—Second Lien** | **Unsecured Debt** | **Asset Based Finance** | **Equity/Other** | **Total** |
| Fair value at beginning of period | $1089944 | $29799 | $43880 | $38961 | $25894 | $1228478 |
| &nbsp;&nbsp;&nbsp;Accretion of discount (amortization of premium) | 2570 |  | (1) |  |  | 2569 |
| &nbsp;&nbsp;&nbsp;Net realized gain (loss) | (279) |  |  |  | 18 | (261) |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | (7752) | (1585) | (100) | (427) | 2288 | (7576) |
| &nbsp;&nbsp;&nbsp;Purchases | 90049 |  |  |  | 442 | 90491 |
| &nbsp;&nbsp;&nbsp;Paid-in-kind interest | 1645 | 709 | 1263 |  |  | 3617 |
| &nbsp;&nbsp;&nbsp;Sales and repayments | (143879) |  |  | (501) | (18) | (144398) |
| &nbsp;&nbsp;Transfers into Level 3<sup>(1)</sup> |  |  |  |  | 408 | 408 |
| &nbsp;&nbsp;Transfers out of Level 3<sup>(1)</sup> |  |  |  |  |  |  |
| Fair value at end of period | $1032298 | $28923 | $45042 | $38033 | $29032 | $1173328 |
| The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date | $(4870) | $(1585) | $(100) | $(427) | $2296 | $(4686) |

---

______________

(1)Transfers into and out of Level 3 are deemed to have occurred as a result of, among other factors, changes in liquidity, the depth and consistency of prices from third-party pricing services and the existence of observable trades in the market. Transfers between levels of the fair value hierarchy are deemed to have occurred at the beginning of the reporting year.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** FS Specialty Lending Fund

- **b. Investment Company Act file number:** 811-24080

- **c. CIK number of Registrant:** 0002065812

- **d. LEI of Registrant:** 54930004XHN0QROEGZ58

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

  - **Street Address 1:** 3025 JFK Boulevard OFC 500

  - **City:** Philadelphia

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19104

  - **Telephone number:** 215-495-1150

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

- **a. Name of Series:** FS Specialty Lending Fund

- **c. LEI of Series:** 54930004XHN0QROEGZ58

**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:** $1915067658.12

**Total Liabilities:** $550618300.44

**Net Assets:** $1364449357.68

**Delayed Delivery Securities:** $16704805.96

**Cash Not Reported:** $247539438.30

**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:** -3192.19000000 | **1-Year:** -138513.54000000 | **5-Year:** -467361.45000000 | **10-Year:** -32481.45000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.64%                | 0.44%                | -0.18%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1628080.80              | $-202974.48                                |
| Month 2  | $2280813.42              | $-6642803.38                               |
| Month 3  | $3105404.04              | $-12123716.04                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alegeus Technologies Holdings Corporation        | Alegeus Technologies Holdings Corporation 2024 Term Loan B            | CUSIP: 01446CAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  29175000 | PA      | $27971531.25  | 2.05%             | 2029-11-05      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| American Auto Auction Group, LLC                 | American Auto Auction Group LLC 2025 Term Loan                        | CUSIP: 02403MAR1<br>LEI: 5493002VI1KML1L8HW19 | Long             | LON              | CORP              | US        |  22770000 | PA      | $22664233.34  | 1.66%             | 2032-05-28      | Floating      | 8.20%                 | No            |                  2 | On Loan: No      |
| AF Inter Holdings LLC                            | AF Inter Holdings LLC 2025 Term Loan                                  | CUSIP: 03081BAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  18761078 | PA      | $18667272.73  | 1.37%             | 2032-01-27      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| AF Inter Holdings LLC                            | AF Inter Holdings LLC 2025 Delayed Draw Term Loan                     | CUSIP: 03081BAC5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7305815 | PA      | $7269285.53   | 0.53%             | 2032-01-27      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| AF Inter Holdings LLC                            | AF Inter Holdings LLC 2025 Revolver                                   | CUSIP: 03081BAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3262475 | PA      | $3246162.44   | 0.24%             | 2032-01-27      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| AF INTER HOLDINGS LLC                            | AF INTER HOLDINGS LLC 2026 1st AMENDMENT Delayed Draw Term Loan       | CUSIP: 03081BAE1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4595806 | PA      | $4572826.77   | 0.34%             | 2032-01-27      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| AF INTER HOLDINGS LLC                            | AF INTER HOLDINGS LLC 2026 1st AMENDMENT REVOLVER                     | CUSIP: 03081BAF8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    414170 | PA      | $412098.98    | 0.03%             | 2032-01-27      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Aptim Crop                                       | Aptim Crop Term Loan                                                  | CUSIP: 03835NAB0<br>LEI: 5493007OBZ8YTJ6O7E92 | Long             | LON              | CORP              | US        |  27500000 | PA      | $27603125.00  | 2.02%             | 2029-05-23      | Floating      | 11.17%                | No            |                  2 | On Loan: No      |
| Archer AcquisitionLLC                            | Archer AcquisitionLLC 2024 Delayed Draw Term Loan B                   | CUSIP: 03945EAE1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  11575035 | PA      | $11575035.39  | 0.85%             | 2029-10-06      | Floating      | 8.55%                 | No            |                  3 | On Loan: No      |
| By Light Professional IT Services LLC            | By Light Professional IT Services LLC Term Loan                       | CUSIP: 05615SAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  19444225 | PA      | $19055340.85  | 1.40%             | 2031-07-15      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| By Light Professional IT Services LLC            | By Light Professional IT Services LLC Revolver                        | CUSIP: 05615SAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1408451 | PA      | $1380281.69   | 0.10%             | 2031-07-15      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Bridge Street CLO                                | Bridge Street CLO V Ltd                                               | CUSIP: 107922AC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  19500000 | PA      | $14081161.19  | 1.03%             | 2038-04-20      | Variable      | 17.57%                | No            |                  3 | On Loan: No      |
| Bridge Street CLO                                | Bridge Street CLO IV Ltd                                              | CUSIP: 107935AC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  23700000 | PA      | $14476630.47  | 1.06%             | 2037-04-20      | Variable      | 9.03%                 | No            |                  3 | On Loan: No      |
| Bridge Street CLO                                | Bridge Street CLO VI Ltd                                              | CUSIP: 10806TAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  11100000 | PA      | $9474753.32   | 0.69%             | 2039-01-15      | Variable      | 12.00%                | No            |                  3 | On Loan: No      |
| Brock Holdings III Inc                           | Brock Holdings III Inc 2024 Term Loan B                               | CUSIP: 11163AAB3<br>LEI: 5493000L6QAVHKOAM302 | Long             | LON              | CORP              | US        |   8372500 | PA      | $8363750.74   | 0.61%             | 2030-05-02      | Floating      | 9.67%                 | No            |                  2 | On Loan: No      |
| BROCK HOLDINGS III INC                           | BROCK HOLDINGS III INC 2026 FUNGIBLE Add-On TERM LOAN                 | CUSIP: 11163AAC1<br>LEI: 5493000L6QAVHKOAM302 | Long             | LON              | CORP              | US        |   1750000 | PA      | $1748171.25   | 0.13%             | 2030-05-02      | Floating      | 9.67%                 | No            |                  2 | On Loan: No      |
| CPM Holdings Inc                                 | CPM Holdings Inc 2023 Term Loan                                       | CUSIP: 12620BAR1<br>LEI: 549300FBUISJCXV8IB65 | Long             | LON              | CORP              | US        |  26437500 | PA      | $26489449.70  | 1.94%             | 2028-09-28      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| Chinos Intermediate Holdings A Inc               | Chinos Intermediate Holdings A Inc 2024 Term Loan B                   | CUSIP: 16961YAB4<br>LEI: 54930061EIIAONXJMZ79 | Long             | LON              | CORP              | US        |  15840000 | PA      | $12536647.20  | 0.92%             | 2031-09-26      | Floating      | 9.67%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                    | PURCHASED USD / SOLD EUR                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $10022.46     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                    | PURCHASED USD / SOLD GBP                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $406653.49    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| EyeCare Partners LLC                             | EyeCare Partners LLC 2024 Superpriority New Money 1st Out Term Loan A | CUSIP: 30233PAQ3<br>LEI: 254900ZAACWK09RJ8W93 | Long             | LON              | CORP              | US        |  20333333 | PA      | $20158263.32  | 1.48%             | 2028-08-31      | Floating      | 9.38%                 | No            |                  2 | On Loan: No      |
| FULL HOUSE RESORTS INC                           | Full House Resorts Inc                                                | CUSIP: 359678AC3<br>LEI: 5493009DKIWW0H901Y82 | Long             | DBT              | CORP              | US        |  25742000 | PA      | $23489575.00  | 1.72%             | 2028-02-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| GUITAR CENTER INC                                | Guitar Center Inc                                                     | CUSIP: 402040AS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  24997301 | PA      | $20122827.31  | 1.47%             | 2029-01-15      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| HMN Acquirer Corp                                | HMN Acquirer Corp Delayed Draw Term Loan                              | CUSIP: 40445UAB8<br>LEI: 254900QZT0J6LRLXFE61 | Long             | LON              | CORP              | US        |   5787037 | PA      | $5852141.21   | 0.43%             | 2031-11-05      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| HMN Acquirer Corp                                | HMN Acquirer Corp Revolver                                            | CUSIP: 40445UAC6<br>LEI: 254900QZT0J6LRLXFE61 | Long             | LON              | CORP              | US        |   3472222 | PA      | $3511284.72   | 0.26%             | 2031-11-05      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| HMN Acquirer Corp                                | HMN Acquirer Corp Term Loan                                           | CUSIP: 40445UAD4<br>LEI: 254900QZT0J6LRLXFE61 | Long             | LON              | CORP              | US        |  15543981 | PA      | $15718851.28  | 1.15%             | 2031-11-05      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Harvest Oil & Gas Corp                           | Harvest Oil & Gas Corp                                                | CUSIP: 41755V201<br>LEI: 54930021ZVE2EXF2SS09 | Long             | EC               | CORP              | US        |    135062 | NS      | $397082.28    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| IXS Holdings Inc                                 | IXS Holdings Inc 2025 Repriced Term Loan B                            | CUSIP: 45074HAC2<br>LEI: 254900I3GPHU9VH9Z454 | Long             | LON              | CORP              | US        |  34684478 | PA      | $34688120.20  | 2.54%             | 2029-09-05      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |
| LHS Borrower LLC                                 | LHS Borrower LLC 2025 Term Loan                                       | CUSIP: 50204EAE8<br>LEI: 2549000R2CJY3YBDDU14 | Long             | LON              | CORP              | US        |  33447250 | PA      | $32945541.25  | 2.41%             | 2031-09-04      | Floating      | 8.92%                 | No            |                  2 | On Loan: No      |
| LHS Borrower LLC                                 | LHS Borrower LLC 2025 Revolver                                        | CUSIP: 50204EAF5<br>LEI: 2549000R2CJY3YBDDU14 | Long             | LON              | CORP              | US        |   2570339 | PA      | $2531783.90   | 0.19%             | 2031-09-04      | Floating      | 8.92%                 | No            |                  2 | On Loan: No      |
| LaserShip Inc                                    | LaserShip Inc 2024 New Money Term Loan A                              | CUSIP: 51809EAL9<br>LEI: 254900NGHREGOQUFUT53 | Long             | LON              | CORP              | US        |  24792295 | PA      | $25121536.24  | 1.84%             | 2029-01-02      | Floating      | 9.95%                 | No            |                  2 | On Loan: No      |
| M2S Group Holdings Inc                           | M2S Group Holdings Inc Term Loan B                                    | CUSIP: 55287CAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  27344828 | PA      | $26775234.83  | 1.96%             | 2031-08-25      | Floating      | 8.42%                 | No            |                  2 | On Loan: No      |
| Mannington Mills Inc                             | Mannington Mills Inc 2025 Term Loan B                                 | CUSIP: 56388VAF2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  39798889 | PA      | $39201905.56  | 2.87%             | 2032-03-25      | Floating      | 8.45%                 | No            |                  2 | On Loan: No      |
| MAVERICK POWER LLC                               | Maverick Power LLC Term Loan                                          | CUSIP: 57779NAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  19950000 | PA      | $19675687.50  | 1.44%             | 2031-05-04      | Floating      | 8.66%                 | No            |                  3 | On Loan: No      |
| NATIONAL MENTOR HOLDINGS INC                     | National Mentor Holdings Inc 2025 1st Lien Term Loan B                | CUSIP: 63689EAX3<br>LEI: 5493004QULJVJP3CNZ62 | Long             | LON              | CORP              | US        |   3412500 | PA      | $3402143.06   | 0.25%             | 2030-12-12      | Floating      | 9.67%                 | No            |                  2 | On Loan: No      |
| NATIONAL MENTOR HOLDINGS INC                     | National Mentor Holdings Inc 2025 Delayed Draw Term Loan              | CUSIP: 63689EAY1<br>LEI: 5493004QULJVJP3CNZ62 | Long             | LON              | CORP              | US        |   1462500 | PA      | $1458061.31   | 0.11%             | 2030-12-12      | Floating      | 9.67%                 | No            |                  2 | On Loan: No      |
| NATIONAL MENTOR HOLDINGS INC                     | National Mentor Holdings Inc 2026 Term Loan B                         | CUSIP: 63689EAZ8<br>LEI: 5493004QULJVJP3CNZ62 | Long             | LON              | CORP              | US        |   5125000 | PA      | $5109445.63   | 0.37%             | 2030-12-12      | Floating      | 9.67%                 | No            |                  2 | On Loan: No      |
| New WPCC Parent LLC                              | New WPCC Parent LLC Term Loan                                         | CUSIP: 64929VAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8924721 | PA      | $8924721.46   | 0.65%             | 2030-05-09      | Floating      | 13.17%                | No            |                  2 | On Loan: No      |
| Padagis LLC                                      | Padagis LLC Term Loan B                                               | CUSIP: 69526PAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3584147 | PA      | $3306375.43   | 0.24%             | 2028-07-06      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| Recovery Solutions Parent LLC                    | Recovery Solutions Parent LLC Term Loan                               | CUSIP: 75627HAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9408124 | PA      | $9408123.98   | 0.69%             | 2030-01-28      | Floating      | 11.20%                | No            |                  3 | On Loan: No      |
| Titan Purchaser Inc                              | Titan Purchaser Inc Term Loan B                                       | CUSIP: 88831XAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  12299361 | PA      | $12391606.61  | 0.91%             | 2030-03-01      | Floating      | 9.70%                 | No            |                  2 | On Loan: No      |
| Glatfelter Corp                                  | Glatfelter Corp Term Loan B                                           | CUSIP: 89458XAB3<br>LEI: 549300LDQLQBT38QDY28 | Long             | LON              | CORP              | US        |   8994586 | PA      | $8657289.01   | 0.63%             | 2031-11-04      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| RealTruck Group Inc                              | RealTruck Group Inc 2021 Term Loan B                                  | CUSIP: 89778PAG2<br>LEI: 54930007KT5CX7XNSD31 | Long             | LON              | CORP              | US        |  24371498 | PA      | $16625992.40  | 1.22%             | 2028-01-31      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| TruGreen Limited Partnership                     | TruGreen Limited Partnership 2020 Term Loan                           | CUSIP: 89787RAH5<br>LEI: 549300QNRP2MNHR3QM19 | Long             | LON              | CORP              | US        |  24396675 | PA      | $23298824.25  | 1.71%             | 2027-11-02      | Floating      | 7.77%                 | No            |                  2 | On Loan: No      |
| MBS SERVICES CAPITAL, LLC                        | MBS SERVICES CAPITAL, LLC                                             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |    522382 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| United Natural Foods Inc                         | United Natural Foods Inc 2024 Term Loan                               | CUSIP: 91116KAD7<br>LEI: 549300GKGW6WPZ282D40 | Long             | LON              | CORP              | US        |   2444669 | PA      | $2461781.46   | 0.18%             | 2031-05-01      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| UNIVERSAL ENTERTAINMENT                          | Universal Entertainment Corp                                          | CUSIP: 91349WAC2<br>LEI: 353800BBJTHSMSQ31V91 | Long             | DBT              | CORP              | JP        |   9625000 | PA      | $9324614.34   | 0.68%             | 2029-08-01      | Fixed         | 9.88%                 | No            |                  3 | On Loan: No      |
| PMHC II INC                                      | PMHC II Inc 2026 1st Out Term Loan A                                  | CUSIP: 92559QAB0<br>LEI: 549300GYZ1T3S8OPH343 | Long             | LON              | CORP              | US        |   6000000 | PA      | $5993730.00   | 0.44%             | 2030-04-30      | Floating      | 9.90%                 | No            |                  2 | On Loan: No      |
| Plainfield Renewable Energy Holdings LLC         | Plainfield Renewable Energy Holdings LLC Term Loan A                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  17640159 | PA      | $4921874.91   | 0.36%             | 2026-05-23      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Plainfield Renewable Energy Holdings LLC         | Plainfield Renewable Energy Holdings LLC Term Loan B                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4880442 | PA      | $0.00         | 0.00%             | 2026-05-23      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Plainfield Renewable Energy Holdings LLC         | Plainfield Renewable Energy Holdings LLC Letter of Credit             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2344451 | PA      | $0.00         | 0.00%             | 2027-08-20      | Fixed         | 2.00%                 | No            |                  3 | On Loan: No      |
| NES Hercules Class B Member LLC                  | NES Hercules Class B Member LLC Construction Loan                     | CUSIP: 000000000<br>LEI: 549300E8UD1KHG0YZF90 | Long             | LON              | CORP              | US        |  22816916 | PA      | $21790155.25  | 1.60%             | 2028-01-31      | Floating      | 5.43%                 | No            |                  3 | On Loan: No      |
| Tenrgys LLC                                      | Tenrgys LLC Second Lien Term Loan                                     | CUSIP: 000000000<br>LEI: 549300CWPHOJZJUR6C24 | Long             | LON              | CORP              | US        |  21945990 | PA      | $21507070.60  | 1.58%             | 2027-03-17      | Floating      | 13.19%                | No            |                  3 | On Loan: No      |
| GLOBAL JET CAPITAL, INC                          | GLOBAL JET CAPITAL, INC                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |  17182669 | NS      | $8247680.99   | 0.60%             |  |  |  | No            |                  3 | On Loan: No      |
| TENRGYS LLC                                      | TENRGYS LLC                                                           | CUSIP: 000000000<br>LEI: 549300CWPHOJZJUR6C24 | Long             | EC               | CORP              | US        |        50 | NS      | $344127.00    | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| TENRGYS LLC                                      | TENRGYS LLC                                                           | CUSIP: 000000000<br>LEI: 549300CWPHOJZJUR6C24 | Long             | EC               | CORP              | US        |        50 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Circustrix Holdings LLC                          | Circustrix Holdings LLC 2023 Delayed Draw Term Loan                   | CUSIP: 000000000<br>LEI: 254900R6HG4R7FA8UK48 | Long             | LON              | CORP              | US        |   2646505 | PA      | $2633272.82   | 0.19%             | 2028-07-18      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| Circustrix Holdings LLC                          | Circustrix Holdings LLC 2023 Revolver                                 | CUSIP: 000000000<br>LEI: 254900R6HG4R7FA8UK48 | Long             | LON              | CORP              | US        |   1344086 | PA      | $1337365.59   | 0.10%             | 2028-07-18      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| Circustrix Holdings LLC                          | Circustrix Holdings LLC 2023 Term Loan                                | CUSIP: 000000000<br>LEI: 254900R6HG4R7FA8UK48 | Long             | LON              | CORP              | US        |  20443548 | PA      | $20341330.68  | 1.49%             | 2028-07-18      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| Revlon Intermediate Holdings IV LLC              | Revlon Intermediate Holdings IV LLC 2023 Exit Term Loan               | CUSIP: 000000000<br>LEI: 2MKZBE7NMX7EJWQLHS95 | Long             | LON              | CORP              | US        |  14770433 | PA      | $14572657.02  | 1.07%             | 2028-05-02      | Floating      | 10.50%                | No            |                  3 | On Loan: No      |
| LEIA ACQUISITION LTD                             | LEIA ACQUISITION LTD                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    404677 | PA      | $404676.97    | 0.03%             | 2029-07-01      | Fixed         | 10.00%                | No            |                  3 | On Loan: No      |
| NEW WPCC PARENT, LLC                             | NEW WPCC PARENT, LLC                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    274669 | NS      | $1167342.40   | 0.09%             |  |  |  | No            |                  3 | On Loan: No      |
| NEW WPCC PARENT, LLC                             | NEW WPCC PARENT, LLC                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3974813 | PA      | $3974812.67   | 0.29%             | 2030-12-31      | Fixed         | 13.00%                | No            |                  3 | On Loan: No      |
| RECOVERY SOLUTIONS                               | RECOVERY SOLUTIONS                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    544661 | NS      | $12924811.70  | 0.95%             |  |  |  | No            |                  3 | On Loan: No      |
| MASSIV BRANDS, LLC                               | MASSIV BRANDS, LLC                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    363636 | NS      | $1942531.51   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| HARREL FISH LLC                                  | HARREL FISH LLC                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26429 | NS      | $30386.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                           | STATE STREET SPDR S+P 500 ETF                                         | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |     -2650 | NC      | $-259700.00   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                           | STATE STREET SPDR S+P 500 ETF                                         | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      2650 | NC      | $720800.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                           | STATE STREET SPDR S+P 500 ETF                                         | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |     -2000 | NC      | $-672000.00   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                           | STATE STREET SPDR S+P 500 ETF                                         | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      2000 | NC      | $1216000.00   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MBS Services Holdings, LLC                       | MBS Services Holdings LLC 2024 2nd Lien PIK Term Loan                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  37259672 | PA      | $7117624.30   | 0.52%             | 2030-09-20      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| WMK LLC                                          | WMK LLC Delayed Draw Term Loan                                        | CUSIP: 000000000<br>LEI: 549300S3DFCMZ5ERWE64 | Long             | LON              | CORP              | US        |   4126349 | PA      | $3987084.66   | 0.29%             | 2028-01-25      | None          | 11.46%                | No            |                  3 | On Loan: No      |
| WMK LLC                                          | WMK LLC Revolver                                                      | CUSIP: 000000000<br>LEI: 549300S3DFCMZ5ERWE64 | Long             | LON              | CORP              | US        |   3383333 | PA      | $3269145.83   | 0.24%             | 2028-01-25      | Fixed         | 11.46%                | No            |                  3 | On Loan: No      |
| WMK LLC                                          | WMK LLC Term Loan                                                     | CUSIP: 000000000<br>LEI: 549300S3DFCMZ5ERWE64 | Long             | LON              | CORP              | US        |  27103147 | PA      | $26188416.23  | 1.92%             | 2028-01-25      | Floating      | 11.46%                | No            |                  3 | On Loan: No      |
| Pioneer Midco, LLC                               | Pioneer Midco LLC PIK Term Loan                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  44350302 | PA      | $44627491.44  | 3.27%             | 2030-11-18      | Fixed         | 11.63%                | No            |                  3 | On Loan: No      |
| GEN4 DENTAL PARTNERS OPCO LLC                    | Gen4 Dental Partners Opco LLC Term Loan                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  23158929 | PA      | $22348366.08  | 1.64%             | 2030-05-13      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| GEN4 DENTAL PARTNERS OPCO LLC                    | Gen4 Dental Partners Opco LLC Delayed Draw Term Loan                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6285714 | PA      | $6065714.29   | 0.44%             | 2030-05-13      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| GEN4 DENTAL PARTNERS OPCO LLC                    | Gen4 Dental Partners Opco LLC Revolver                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1571429 | PA      | $1516428.57   | 0.11%             | 2030-05-13      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Onbe, Inc.                                       | Onbe Inc Term Loan                                                    | CUSIP: 000000000<br>LEI: 254900Q5HXUEJ97OXT27 | Long             | LON              | CORP              | US        |  37620000 | PA      | $36867600.00  | 2.70%             | 2031-07-25      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| RPC Topco Inc                                    | RPC Topco Inc Revolver                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3030303 | PA      | $3030303.03   | 0.22%             | 2031-08-29      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| RPC Topco Inc                                    | RPC Topco Inc Term Loan                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  20390783 | PA      | $20390782.84  | 1.49%             | 2031-08-29      | Floating      | 8.24%                 | No            |                  3 | On Loan: No      |
| COP Village Green Acquisitions Inc               | COP Village Green Acquisitions Inc Delayed Draw Term Loan A           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3050434 | PA      | $3050433.84   | 0.22%             | 2030-09-26      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| COP Village Green Acquisitions Inc               | COP Village Green Acquisitions Inc Delayed Draw Term Loan B           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3050434 | PA      | $3050433.84   | 0.22%             | 2030-09-26      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| COP Village Green Acquisitions Inc               | COP Village Green Acquisitions Inc Term Loan A                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  12579379 | PA      | $12579379.06  | 0.92%             | 2030-09-26      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| COP Village Green Acquisitions Inc               | COP Village Green Acquisitions Inc Revolver                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3660521 | PA      | $3660520.61   | 0.27%             | 2030-09-26      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| P.F. Chang's China Bistro Inc.                   | PF Chang's China Bistro Inc 2024 Term Loan                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  22142857 | PA      | $15961346.44  | 1.17%             | 2029-09-03      | Floating      | 9.92%                 | No            |                  2 | On Loan: No      |
| LR ORION BIDCO LIMITED                           | LR Orion Bidco Limited Term Loan                                      | CUSIP: 000000000<br>LEI: 213800BI2B7HWIIM7J67 | Long             | LON              | CORP              | GB        |  24337297 | PA      | $24093923.91  | 1.77%             | 2031-11-22      | Floating      | 8.92%                 | No            |                  2 | On Loan: No      |
| LR ORION BIDCO LIMITED                           | LR Orion Bidco Limited Delayed Draw Term Loan                         | CUSIP: 000000000<br>LEI: 213800BI2B7HWIIM7J67 | Long             | LON              | CORP              | GB        |   4838710 | PA      | $4790322.58   | 0.35%             | 2031-11-22      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| LR ORION BIDCO LIMITED                           | LR Orion Bidco Limited GBP Revolver                                   | CUSIP: 000000000<br>LEI: 213800BI2B7HWIIM7J67 | Long             | LON              | CORP              | GB        |   3468031 | PA      | $4475263.68   | 0.33%             | 2031-05-22      | Fixed         | 0.83%                 | No            |                  2 | On Loan: No      |
| Array Midco Corp                                 | Array Midco Corp 2024 Term Loan                                       | CUSIP: 000000000<br>LEI: 2549006QJO7TR3GSGI51 | Long             | LON              | CORP              | CA        |  24877404 | PA      | $24317662.56  | 1.78%             | 2029-12-31      | Floating      | 10.20%                | No            |                  2 | On Loan: No      |
| CCS Acquisition Inc                              | CCS Acquisition Inc Revolver                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8571429 | PA      | $8657142.86   | 0.63%             | 2030-12-30      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| CCS Acquisition, Inc.                            | CCS Acquisition Inc Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  31192857 | PA      | $31504785.71  | 2.31%             | 2030-12-30      | Floating      | 9.20%                 | No            |                  2 | On Loan: No      |
| Project Granite Buyer Inc                        | Project Granite Buyer Inc Delayed Draw Term Loan                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1480000 | PA      | $1481850.00   | 0.11%             | 2031-12-31      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Project Granite Buyer Inc                        | Project Granite Buyer Inc Revolver                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2470000 | PA      | $2476175.00   | 0.18%             | 2030-12-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Project Granite Buyer Inc                        | Project Granite Buyer Inc Term Loan                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  15849375 | PA      | $15869186.72  | 1.16%             | 2031-12-31      | Floating      | 9.45%                 | No            |                  2 | On Loan: No      |
| Accupac LLC                                      | Accupac LLC 2024 Term Loan                                            | CUSIP: 000000000<br>LEI: 254900YT24DHW6P5YE87 | Long             | LON              | CORP              | US        |  43299534 | PA      | $35667651.88  | 2.61%             | 2029-12-31      | Floating      | 10.70%                | No            |                  2 | On Loan: No      |
| Accupac LLC                                      | Accupac LLC 2024 Revolver                                             | CUSIP: 000000000<br>LEI: 254900YT24DHW6P5YE87 | Long             | LON              | CORP              | US        |   6267391 | PA      | $5162714.45   | 0.38%             | 2029-12-31      | Floating      | 10.70%                | No            |                  2 | On Loan: No      |
| Array Midco Corp                                 | Array Midco Corp 2024 Delayed Draw Term Loan                          | CUSIP: 000000000<br>LEI: 2549006QJO7TR3GSGI51 | Long             | LON              | CORP              | CA        |   7517804 | PA      | $7348653.60   | 0.54%             | 2029-12-31      | Floating      | 12.25%                | No            |                  2 | On Loan: No      |
| OLIBRE BORROWER LLC                              | Olibre Borrower LLC Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  39500000 | PA      | $38858125.00  | 2.85%             | 2030-01-03      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| STRYTEN ENERGY RESOURCES LLC                     | Stryten Energy Resources LLC Term Loan                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  31968750 | PA      | $31489218.75  | 2.31%             | 2029-12-18      | Floating      | 9.18%                 | No            |                  3 | On Loan: No      |
| LSCS Holdings Inc                                | LSCS Holdings Inc 2025 Term Loan                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  11508750 | PA      | $10861382.81  | 0.80%             | 2032-03-04      | Floating      | 8.20%                 | No            |                  2 | On Loan: No      |
| Loungers                                         | Loungers GBP Term Loan B                                              | CUSIP: 000000000<br>LEI: 213800FA4HQ339CRNN34 | Long             | LON              | CORP              | GB        |  18800000 | PA      | $24786872.45  | 1.82%             | 2031-02-19      | Floating      | 9.23%                 | No            |                  2 | On Loan: No      |
| FUTURE PAK LLC                                   | Future Pak LLC 2025 Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  29920000 | PA      | $29359000.00  | 2.15%             | 2030-03-21      | Floating      | 10.02%                | No            |                  2 | On Loan: No      |
| LTC CONSULTING SERVICES LLC                      | LTC Consulting Services LLC Term Loan                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  23308712 | PA      | $23075624.99  | 1.69%             | 2031-05-01      | Floating      | 8.16%                 | No            |                  3 | On Loan: No      |
| LTC CONSULTING SERVICES LLC                      | LTC Consulting Services LLC Revolver                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1515152 | PA      | $1500000.00   | 0.11%             | 2031-05-01      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| TRIMLIGHT INC                                    | Trimlight Inc Term Loan                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  25243421 | PA      | $24864769.74  | 1.82%             | 2030-05-06      | Floating      | 9.67%                 | No            |                  3 | On Loan: No      |
| TRIMLIGHT INC                                    | Trimlight Inc Revolver                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3157895 | PA      | $3110526.31   | 0.23%             | 2030-05-06      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| SkyZone                                          | SkyZone Incremental Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4962500 | PA      | $4937687.50   | 0.36%             | 2028-07-18      | Floating      | 10.43%                | No            |                  3 | On Loan: No      |
| SkyZone                                          | SkyZone Incremental Delayed Draw Term Loan                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4987500 | PA      | $4962562.50   | 0.36%             | 2028-07-18      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| MedPro                                           | MedPro Term Loan                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  26301250 | PA      | $26005360.94  | 1.91%             | 2027-12-31      | Floating      | 9.92%                 | No            |                  3 | On Loan: No      |
| Mood Media Borrower,LLC,                         | Mood Media BorrowerLLC 2025 Term Loan                                 | CUSIP: 000000000<br>LEI: 549300XXPJSI7843ZB15 | Long             | LON              | CORP              | US        |   5536027 | PA      | $5487586.48   | 0.40%             | 2030-05-30      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| Mood Media Borrower,LLC,                         | Mood Media BorrowerLLC 2025 Revolver                                  | CUSIP: 000000000<br>LEI: 549300XXPJSI7843ZB15 | Long             | LON              | CORP              | US        |    422034 | PA      | $418340.89    | 0.03%             | 2030-05-30      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| FIRST BRANDS GROUP LLC                           | First Brands Group LLC 2025 Term Loan                                 | CUSIP: 000000000<br>LEI: 2549005IXRZR7KSBJD91 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2027-03-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MASSIV BRANDS LLC                                | Massiv Brands LLC Fixed PIK Term Loan                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  41017500 | PA      | $39838246.46  | 2.92%             | 2030-07-02      | Fixed         | 15.00%                | No            |                  3 | On Loan: No      |
| SHEPHERD INTERMEDIATE LLC                        | Shepherd Intermediate LLC Term Loan                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  15527474 | PA      | $15721567.60  | 1.15%             | 2030-07-10      | Floating      | 10.90%                | No            |                  3 | On Loan: No      |
| SHEPHERD INTERMEDIATE LLC                        | Shepherd Intermediate LLC Delayed Draw Term Loan                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5208333 | PA      | $5273437.50   | 0.39%             | 2030-07-10      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| SHEPHERD INTERMEDIATE LLC                        | Shepherd Intermediate LLC Revolver                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1041667 | PA      | $1054687.50   | 0.08%             | 2030-07-10      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| HMP Omnimedia LLC                                | HMP Omnimedia LLC Term Loan A                                         | CUSIP: 000000000<br>LEI: 549300M1JI6N53DV2Z13 | Long             | LON              | CORP              | US        |  21641250 | PA      | $21127270.31  | 1.55%             | 2032-07-30      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| HMP Omnimedia LLC                                | HMP Omnimedia LLC Delayed Draw Term Loan                              | CUSIP: 000000000<br>LEI: 549300M1JI6N53DV2Z13 | Long             | LON              | CORP              | US        |   5625000 | PA      | $5491406.25   | 0.40%             | 2032-07-30      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| HMP Omnimedia LLC                                | HMP Omnimedia LLC Revolver                                            | CUSIP: 000000000<br>LEI: 549300M1JI6N53DV2Z13 | Long             | LON              | CORP              | US        |   5625000 | PA      | $5519531.25   | 0.40%             | 2030-07-31      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Lance East Finance Pty Ltd                       | Lance East Finance Pty Ltd Term Loan                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | AU        |   2923716 | PA      | $3727737.26   | 0.27%             | 2028-08-20      | Floating      | 11.13%                | No            |                  3 | On Loan: No      |
| Phoenix Rehabilitation And Health Services, Inc. | Phoenix Rehabilitation And Health Services Inc Term Loan A            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  19882353 | PA      | $19509558.82  | 1.43%             | 2030-09-29      | Floating      | 9.70%                 | No            |                  2 | On Loan: No      |
| Phoenix Rehabilitation And Health Services, Inc. | Phoenix Rehabilitation And Health Services Inc PIK Term Loan B        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5330620 | PA      | $5510528.81   | 0.40%             | 2030-09-29      | Fixed         | 14.00%                | No            |                  2 | On Loan: No      |
| Phoenix Rehabilitation And Health Services, Inc. | Phoenix Rehabilitation And Health Services Inc Delayed Draw Term Loan | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3823529 | PA      | $3751838.23   | 0.27%             | 2030-09-29      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Phoenix Rehabilitation And Health Services, Inc. | Phoenix Rehabilitation And Health Services Inc Revolver               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3823529 | PA      | $3751838.23   | 0.27%             | 2030-09-29      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Archer AcquisitionLLC                            | Archer AcquisitionLLC 2025 2nd Amendment Delayed Draw Term Loan       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    348324 | PA      | $348324.08    | 0.03%             | 2029-10-08      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Lawn & Garden, LLC                               | Lawn & Garden LLC Term Loan                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  25909091 | PA      | $25455681.82  | 1.87%             | 2029-10-21      | Floating      | 11.17%                | No            |                  3 | On Loan: No      |
| Lawn & Garden, LLC                               | Lawn & Garden LLC Revolver                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5757576 | PA      | $5656818.18   | 0.41%             | 2029-10-21      | Floating      | 15.25%                | No            |                  3 | On Loan: No      |
| JONATHAN ACQUISITION COMPANY                     | Jonathan Acquisition Company 2025 Term Loan                           | CUSIP: 000000000<br>LEI: 984500537405671VC110 | Long             | LON              | CORP              | US        |  14124430 | PA      | $13930219.15  | 1.02%             | 2029-11-12      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| JONATHAN ACQUISITION COMPANY                     | Jonathan Acquisition Company 2025 Revolver                            | CUSIP: 000000000<br>LEI: 984500537405671VC110 | Long             | LON              | CORP              | US        |   1733857 | PA      | $1712183.48   | 0.13%             | 2029-05-11      | Floating      | 10.25%                | No            |                  3 | On Loan: No      |
| Harrel-Fish, LLC                                 | Harrel-Fish LLC Term Loan                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  27272727 | PA      | $27272727.27  | 2.00%             | 2031-12-03      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| Harrel-Fish, LLC                                 | Harrel-Fish LLC Delayed Draw Term Loan                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9090909 | PA      | $9090909.09   | 0.67%             | 2031-12-03      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| Harrel-Fish, LLC                                 | Harrel-Fish LLC Revolver                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3636364 | PA      | $3636363.64   | 0.27%             | 2031-12-03      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| SPINRITE INC                                     | Spinrite Inc Term Loan                                                | CUSIP: 000000000<br>LEI: 549300CNRTKL60LXDC43 | Long             | LON              | CORP              | US        |  26578947 | PA      | $26346381.58  | 1.93%             | 2030-12-05      | Floating      | 11.17%                | No            |                  3 | On Loan: No      |
| SPINRITE INC                                     | Spinrite Inc Revolver                                                 | CUSIP: 000000000<br>LEI: 549300CNRTKL60LXDC43 | Long             | LON              | CORP              | US        |   4983553 | PA      | $4939946.54   | 0.36%             | 2030-12-05      | Floating      | 11.17%                | No            |                  3 | On Loan: No      |
| TIKEHAU SONIC SARL                               | Tikehau Sonic Sarl EUR Term Loan                                      | CUSIP: 000000000<br>LEI: 98450057FADY0B973908 | Long             | LON              | CORP              | LU        |   2256098 | PA      | $2572253.49   | 0.19%             | 2032-12-15      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| TIKEHAU SONIC SARL                               | Tikehau Sonic Sarl EUR Delayed Draw Term Loan                         | CUSIP: 000000000<br>LEI: 98450057FADY0B973908 | Long             | LON              | CORP              | LU        |    243902 | PA      | $278081.47    | 0.02%             | 2032-12-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| TIKEHAU SONIC SARL                               | Tikehau Sonic Sarl EUR Revolver                                       | CUSIP: 000000000<br>LEI: 98450057FADY0B973908 | Long             | LON              | CORP              | LU        |    243902 | PA      | $277379.24    | 0.02%             | 2032-06-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| EXEMPLIS LLC                                     | Exemplis LLC 2025 Term Loan                                           | CUSIP: 000000000<br>LEI: 549300YCTX65T9LN3062 | Long             | LON              | CORP              | US        |  18077679 | PA      | $17829110.49  | 1.31%             | 2032-12-22      | Floating      | 8.92%                 | No            |                  2 | On Loan: No      |
| EXEMPLIS LLC                                     | Exemplis LLC 2025 Revolver                                            | CUSIP: 000000000<br>LEI: 549300YCTX65T9LN3062 | Long             | LON              | CORP              | US        |   4285714 | PA      | $4232142.86   | 0.31%             | 2032-12-22      | Floating      | 0.50%                 | No            |                  2 | On Loan: No      |
| ADAN-B, LLC                                      | ADAN-B LLC 2025 1st Amendment Revolver                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4500000 | PA      | $4466250.00   | 0.33%             | 2030-12-31      | Floating      | 9.46%                 | No            |                  2 | On Loan: No      |
| ADAN-B, LLC                                      | ADAN-B LLC 2025 1st Amendment Term Loan                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  31342500 | PA      | $31107431.25  | 2.28%             | 2030-12-31      | Floating      | 9.45%                 | No            |                  2 | On Loan: No      |
| TIKEHAU SONIC SARL                               | Tikehau Sonic Sarl USD Term Loan                                      | CUSIP: 000000000<br>LEI: 98450057FADY0B973908 | Long             | LON              | CORP              | LU        |   2639634 | PA      | $2613237.80   | 0.19%             | 2032-12-15      | Floating      | 8.70%                 | No            |                  2 | On Loan: No      |
| ACM US Finco LP                                  | ACM US Finco LP Term Loan                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  19867508 | PA      | $19668832.62  | 1.44%             | 2029-01-30      | Floating      | 11.67%                | No            |                  3 | On Loan: No      |
| Frozen Garlic Bread Holdings Inc                 | Frozen Garlic Bread Holdings Inc Delayed Draw Term Loan               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   2548544 | PA      | $2526243.93   | 0.19%             | 2032-02-06      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| Frozen Garlic Bread Holdings Inc                 | Frozen Garlic Bread Holdings Inc Term Loan                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |  13252427 | PA      | $13136468.44  | 0.96%             | 2032-02-06      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Frozen Garlic Bread Holdings Inc                 | Frozen Garlic Bread Holdings Inc Revolver                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   1699029 | PA      | $1684162.63   | 0.12%             | 2032-02-06      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| ORANGE HIBISCUS LLC                              | ORANGE HIBISCUS LLC TERM LOAN                                         | CUSIP: 000000000<br>LEI: 254900HPFBV49KG90V59 | Long             | LON              | CORP              | US        |  18218750 | PA      | $17945468.75  | 1.32%             | 2031-03-06      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| ORANGE HIBISCUS LLC                              | ORANGE HIBISCUS LLC REVOLVER                                          | CUSIP: 000000000<br>LEI: 254900HPFBV49KG90V59 | Long             | LON              | CORP              | US        |   1718750 | PA      | $1692968.75   | 0.12%             | 2031-03-06      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| ORANGE HIBISCUS LLC                              | ORANGE HIBISCUS LLC DELAYED DRAW TERM LOAN A                          | CUSIP: 000000000<br>LEI: 254900HPFBV49KG90V59 | Long             | LON              | CORP              | US        |   4125000 | PA      | $4063125.00   | 0.30%             | 2031-03-06      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| ORANGE HIBISCUS LLC                              | ORANGE HIBISCUS LLC DELAYED DRAW TERM LOAN B                          | CUSIP: 000000000<br>LEI: 254900HPFBV49KG90V59 | Long             | LON              | CORP              | US        |   3437500 | PA      | $3385937.50   | 0.25%             | 2031-03-06      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| PROJECT GRANITE BUYER INC                        | PROJECT GRANITE BUYER INC 2026 1 INCREMENTAL TERM LOAN                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2500000 | PA      | $2450000.00   | 0.18%             | 2031-12-31      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| PRETIUM PKG HOLDINGS INC                         | PRETIUM PKG HOLDINGS INC 2026 1st OUT EXIT TERM LOAN                  | CUSIP: 000000000<br>LEI: 254900S6SXME9YWLU075 | Long             | LON              | CORP              | US        |   7270270 | PA      | $7260019.19   | 0.53%             | 2031-03-02      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| NICKERSON EDUCATION BUYER LLC                    | NICKERSON EDUCATION BUYER LLC TERM LOAN                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  13541053 | PA      | $13337936.84  | 0.98%             | 2032-03-19      | Floating      | 8.94%                 | No            |                  2 | On Loan: No      |
| NICKERSON EDUCATION BUYER LLC                    | NICKERSON EDUCATION BUYER LLC DELAYED DRAW TERM LOAN                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5052632 | PA      | $5014736.84   | 0.37%             | 2032-03-19      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| NICKERSON EDUCATION BUYER LLC                    | NICKERSON EDUCATION BUYER LLC REVOLVER                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5052632 | PA      | $4976842.11   | 0.36%             | 2032-03-19      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Delivery Hero SE                                 | Delivery Hero SE 2024 USD Term Loan B                                 | CUSIP: 000000000<br>LEI: 529900KR9IO53KSCSQ67 | Long             | LON              | CORP              | US        |  24500000 | PA      | $24124905.00  | 1.77%             | 2029-12-12      | Floating      | 8.64%                 | No            |                  2 | On Loan: No      |
| Digicel International Finance Limited            | Digicel International Finance Limited 2025 Term Loan B                | CUSIP: 000000000<br>LEI: 5493007V023VOEW4FK27 | Long             | LON              | CORP              | BM        |  10673250 | PA      | $10686591.56  | 0.78%             | 2032-08-06      | Floating      | 8.92%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** FS Specialty Lending Fund

**Signature:** William Goebel

**Name of Signer:** William Goebel

**Title:** Chief Financial Officer and Treasurer