# EDGAR Filing Document

**Accession Number:** 0001777529
**File Stem:** 0001049169-26-000691
**Filing Date:** 2026-2
**Character Count:** 13451
**Document Hash:** 4e55b9c03c043d455c6388b74ecf78ea
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001049169-26-000691.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001049169-26-000691

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Alpha Alternative Assets Fund
- **CENTRAL INDEX KEY:** 0001777529

**ORGANIZATION NAME:**
- **EIN:** 834704416
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23447
- **FILM NUMBER:** 26701650

**BUSINESS ADDRESS:**
- **STREET 1:** 1615 SOUTH CONGRESS AVENUE
- **STREET 2:** SUITE 103
- **CITY:** DELRAY BEACH
- **STATE:** FL
- **ZIP:** 33445
- **BUSINESS PHONE:** 720-638-2038

**MAIL ADDRESS:**
- **STREET 1:** 1615 SOUTH CONGRESS AVENUE
- **STREET 2:** SUITE 103
- **CITY:** DELRAY BEACH
- **STATE:** FL
- **ZIP:** 33445

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** A3 Alternative Income Fund
- **DATE OF NAME CHANGE:** 20210407

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** A3 Alternative Credit Fund
- **DATE OF NAME CHANGE:** 20190522

## Nport-Ex

**ALPHA ALTERNATIVE ASSETS FUND**

**SCHEDULE OF INVESTMENTS**

*December 31, 2025 (Unaudited)*

---

| | | |
|:---|:---|:---|
| |<br>**Shares** | **Value**<br>**(Note 2)** |
| **PRIVATE FUND INVESTMENTS (29.86%)** |  |  |
| &nbsp;&nbsp;&nbsp;FBF 2023-1 LLC Economic Interest<sup>(a)(b)(c)</sup> |  | $1922967 |
| &nbsp;&nbsp;&nbsp;MEP Capital IV, L.P.<sup>(b)(c)(d)(e)</sup> |  | 2207657 |
| &nbsp;&nbsp;&nbsp;WSP TGA Holdings, LLC<sup>(b)(d)(e)</sup> |  | 1758950 |
| ***Total Private Fund Investments*** |  | 5889574 |
| **TOTAL PRIVATE FUND INVESTMENTS** |  |  |
| **(Cost $5,702,308)** |  | 5889574 |

---

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Value<br> (Note 2)** |
| **ASSET-BACKED SECURITIES (22.07%)** |  |  |
| ***Asset Backed Securities (22.07%)*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Experity Ventures SPV IV, LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C Note, 17.500%, 06/22/2037 | 3500000 | 3500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Quaker State Holdings, LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, 9.000%, 03/12/2029 | 837113 | 853333 |
| ***Total Asset Backed Securities*** |  | 4353333 |
| **TOTAL ASSET-BACKED SECURITIES** |  |  |
| **(Cost $4,263,508)** |  | 4353333 |
| **PRIVATE LOAN (17.59%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alpha Alternative Strategies ICAV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3M US SOFR + 6.500%, 05/30/2027<sup>(a)(f)</sup> | 2050000 | 2050000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Whitehorse Funding, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12/30/2028<sup>(a)</sup> | 900000 | 900000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Wildbrain - IOM Debt Financing, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.000%, 12/17/2028<sup>(a)(e)(g)</sup> | 478514 | 520215 |
| **TOTAL PRIVATE LOAN** |  |  |
| **(Cost $3,428,514)** |  | 3470215 |

---

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Value<br> (Note 2)** |
| **PRIVATE NOTES (25.63%)** |  |  |
| ***Financial Service Company (25.63%)*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pentor Life Settlements |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.000%, 08/25/2028<sup>(a)</sup> | $907501 | $907501 |
| &nbsp;&nbsp;&nbsp;&nbsp;Thrivest Legal Funding, LLC Promissory Note |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.000%, 05/01/2029<sup>(e)</sup> | 4000000 | 4148800 |
| ***Total Financial Service Company*** |  | 5056301 |
| **TOTAL PRIVATE NOTES** |  |  |
| **(Cost $5,041,472)** |  | 5056301 |

---

---

| | | | |
|:---|:---|:---|:---|
| | **7 Day Yield** | **Shares** | **Value<br> (Note 2)** |
| **SHORT TERM SECURITY (*8.69%*)** |  |  |  |
| ***Money Market Funds*** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity Government Portfolio, Class I | 3.660% | 1714878 | $1714878 |
|  |  |  | 1714878 |
| **TOTAL SHORT TERM SECURITY** |  |  |  |
| **(Cost $1,714,878)** |  |  | 1714878 |
| **TOTAL INVESTMENTS (103.84%)** |  |  |  |
| **(Cost $20,150,680)** |  |  | $20484301 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS (-3.84%)** |  |  | (757299) |
| **NET ASSETS (100.00%)** |  |  | $19727002 |

---

**Investment Abbreviation:**

SOFR - Secured Overnight Financing Rate

**Reference Rate:**

3M US SOFR – 3 Months US SOFR as of December 31, 2025 was 4.01%

*(a)* *As a result of the use of significant unobservable inputs to determine fair value, these investments have been classified as Level 3 assets. Additional information on Level 3 assets can be found in Note 2. Significant Accounting Policies in the Notes to Portfolio of Investments section.* 

*(b)* *Non-income producing security.* 

*(c)* *Private investment company that does not issue shares or units.* 

*(d)* *In accordance with ASC 820-10, the investment is valued using the practical expedient methodology.* 

*(e)* *Security deemed to be restricted as of December 31, 2025. As of December 31, 2025, the fair value of restricted securities in the aggregate was $19,727,002, representing 43,78% of the Fund's net assets.* 

*(f)* *Floating or variable rate security. The reference rate is described above. The rate in effect as of December 31, 2025 is based on the reference rate plus the displayed spread as of the securities last reset date.* 

*(g)* *Wildbrain - IOM Debt Financing is comprised of two securities 1) a loan participation agreement in the amount of $500,018, and 2) warrants in the amount of 20,197.* 

**ALPHA ALTERNATIVE ASSETS FUND** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments in Securities at Value** | **Level 1 - Unadjusted Prices** | **Level 2 - Other Significant <br> Observable Inputs** | **Level 3 - Significant <br> Unobservable Inputs** | **Investments Valued at <br> Net Asset Value<sup>(1)</sup>** | **Total** |
| Private Fund Investments | $– | $– | $1922967 | $3966607 | $5889574 |
| Asset-Backed Securities |  | 4353333 |  |  | 4353333 |
| Private Loan |  |  | 3470215 |  | 3470215 |
| Private Notes |  | 4148800 | 907501 |  | 5056301 |
| Short Term Security | 1714878 | – | – | – | 1714878 |
| Total | $1714878 | $8502133 | $6300683 | $3966607 | $20484301 |

---

<sup>(1)</sup> In accordance with ASC 820-10, certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Alpha Alternative Assets Fund

- **b. Investment Company Act file number:** 811-23447

- **c. CIK number of Registrant:** 0001777529

- **d. LEI of Registrant:** 549300IGRHHQ7AXCO313

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

  - **Street Address 1:** 1615 South Congress Avenue Suite 103

  - **City:** Delray Beach

  - **State:** FL

  - **Foreign country:** US

  - **Zip / Postal Code:** 33445

  - **Telephone number:** 3399330394

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

- **a. Name of Series:** Alpha Alternative Assets Fund

- **c. LEI of Series:** 549300IGRHHQ7AXCO313

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $19776341.35

**Total Liabilities:** $49365.71

**Net Assets:** $19726975.64

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

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.00%                | 5.63%                | 0.96%                |
| Class ID N/A | 0.99%                | 5.74%                | 0.95%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-40224.00               | $-857815.69                                |
| Month 2  | $46644.55                | $-117871.12                                |
| Month 3  | $-603.60                 | $30648.95                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| N/A                                 | MEP Capital IV, L.P.                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        | 2050607   | NS      | $2207657.24   | 11.19%            |  |  |  | No            | N/A                | On Loan: No      |
| N/A                                 | Whitehorse Funding                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        | 900000    | PA      | $899999.99    | 4.56%             | 2028-12-30      | Fixed         | 10.00%                | No            | 3                  | On Loan: No      |
| Quaker State Holdings Llc           | Quaker State Holdings, LLC                  | CUSIP: 747416AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        | 837113    | PA      | $853333.14    | 4.33%             | 2029-03-12      | Fixed         | 9.00%                 | No            | 2                  | On Loan: No      |
| N/A                                 | Alpha Alternative Strategies ICAV           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        | 2050000   | PA      | $2050000.00   | 10.39%            | 2027-05-30      | Floating      | 10.85%                | No            | 3                  | On Loan: No      |
| Thrive Future Habitats Ltd.         | Thrivest Legal Funding, LLC Promissory Note | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        | 4000000   | PA      | $4148800.00   | 21.03%            | 2029-05-01      | Fixed         | 12.00%                | No            | 2                  | On Loan: No      |
| N/A                                 | Pentor Life Settlements                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        | 907501    | PA      | $907500.55    | 4.60%             | 2028-08-25      | Fixed         | 10.00%                | Yes           | 3                  | On Loan: No      |
| N/A                                 | Wildbrain - IOM Debt Financing              | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        | 478514    | PA      | $520215.05    | 2.64%             | 2028-12-17      | Fixed         | 14.00%                | No            | 3                  | On Loan: No      |
| Fidelity Government Portfolio       | Fidelity Government Portfolio, Class I      | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        | 1714878   | NS      | $1714877.65   | 8.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Tvest Securitization, Series 2020-a | Experity Ventures SPV IV, LLC               | CUSIP: 30220RAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        | 3500000   | PA      | $3500000.00   | 17.74%            | 2037-06-22      | Fixed         | 17.50%                | No            | 2                  | On Loan: No      |
| N/A                                 | FBF 2023-1 LLC Economic Interest            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |  | NS      | $1922966.97   | 9.75%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                 | WSP TGA Holdings, LLC                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        | 724508    | OU      | $1758950.23   | 8.92%             |  |  |  | No            | N/A                | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Alpha Alternative Assets Fund

**Signature:** Gobind Sahney

**Name of Signer:** Gobind Sahney

**Title:** Chief Executive Officer