# EDGAR Filing Document

**Accession Number:** 0002022290
**File Stem:** 0000910472-25-005432
**Filing Date:** 2025-12
**Character Count:** 42518
**Document Hash:** 39d920db8c67c214eb3dc8c8f3dbb66a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-005432.hdr.sgml**: 20251201

**ACCESSION NUMBER**: 0000910472-25-005432

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251201

**DATE AS OF CHANGE**: 20251201

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Diamond Hill Securitized Credit Fund
- **CENTRAL INDEX KEY:** 0002022290

**ORGANIZATION NAME:**
- **EIN:** 992838444
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23964
- **FILM NUMBER:** 251539263

**BUSINESS ADDRESS:**
- **STREET 1:** 325 JOHN H MCCONNELL BLVD.
- **STREET 2:** SUITE 200
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215
- **BUSINESS PHONE:** 614-255-3333

**MAIL ADDRESS:**
- **STREET 1:** 325 JOHN H MCCONNELL BLVD.
- **STREET 2:** SUITE 200
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215

## Nport-Ex

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Diamond Hill Securitized Credit Fund** | **Diamond Hill Securitized Credit Fund** | **Diamond Hill Securitized Credit Fund** | **Diamond Hill Securitized Credit Fund** | **Diamond Hill Securitized Credit Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **Securitized - 97.4%** | **Coupon** | **Maturity** | **Shares / Par Value** | **Fair Value** |
| **ABS-Other - 3.6%** | **ABS-Other - 3.6%** | **ABS-Other - 3.6%** | | |
| Accelerated Assets, LLC, Series 2021-1H, Class D <sup>(a)</sup> | 3.580% | 10/20/40 | $527682 | $485776 |
| US Bank NA, Series 2025-SUP2, Class R (1\* SOFR30A + 650) <sup>(a)(b)</sup> | 10.886% | 09/25/32 | 3825000 | 3824883 |
|  |  |  |  | 4310659 |
| **Agency MBS CMO Derivatives - 0.8%** |  |  |  |  |
| FHLMC, Series 3866, Class DS (IO) (-2\* SOFR30A + 921) <sup>(b)</sup> | 0.127% | 05/15/41 | 318205 | 258525 |
| GNMA, Series 2021-158, Class MT (IO) (-3.33\* SOFR30A + 11) <sup>(b)</sup> | 0.000% | 08/20/51 | 1605260 | 670350 |
|  |  |  |  | 928875 |
| **Auto Loan - 6.3%** |  |  |  |  |
| Ally Bank Auto Credit-Linked Notes, Series 2024-B, Class G <sup>(a)</sup> | 11.395% | 09/15/32 | 1184550 | 1208413 |
| Ally Bank Auto Credit-Linked Notes, Series 2025-A, Class G <sup>(a)</sup> | 10.219% | 06/15/33 | 1858731 | 1876483 |
| Hertz Vehicle Financing, LLC, Series 2023-2A, Class D <sup>(a)</sup> | 9.400% | 09/25/29 | 250000 | 260378 |
| Research-Driven Pagaya Motor Asset Trust I, Series 2025-4A, <br> Class E <sup>(a)</sup> | 10.739% | 04/25/34 | 1750000 | 1751174 |
| Tricolor Auto Securitization Trust, Series 2025-2A, Class F <sup>(a)(c)(d)</sup> | 11.230% | 03/15/32 | 1300000 | 156000 |
| Truist Bank Auto Credit-Linked Notes, Series 2025-1, Class D <sup>(a)</sup> | 9.685% | 09/26/33 | 2400000 | 2400965 |
|  |  |  |  | 7653413 |
| **CRE/CLO - 2.2%** |  |  |  |  |
| BXMT Ltd., Series 2020-FL3, Class D (1\* TSFR1M + 291) <sup>(a)(b)</sup> | 7.778% | 11/15/37 | 800000 | 773361 |
| BXMT Ltd., Series 2020-FL2, Class D (1\* TSFR1M + 206) <sup>(a)(b)</sup> | 6.678% | 02/15/38 | 125000 | 122289 |
| BXMT Ltd., Series 2021-FL4, Class D (1\* TSFR1M + 236) <sup>(a)(b)</sup> | 6.728% | 05/15/38 | 1850000 | 1774157 |
|  |  |  |  | 2669807 |
| **Credit Cards - 6.7%** |  |  |  |  |
| Genesis Sales Finance Master Trust, Series 2024-B, Class F <sup>(a)</sup> | 13.370% | 12/20/32 | 2000000 | 2030960 |
| Perimeter Master Note Business Trust, Series 2025-1A, Class D <sup>(a)</sup> | 12.800% | 12/16/30 | 6000000 | 6081857 |
|  |  |  |  | 8112817 |
| **HECM - 17.9%** |  |  |  |  |
| Brean Asset Backed Securities Trust, Series 2021-RM1, Class M1 <sup>(a)</sup> | 1.600% | 10/25/63 | 2586042 | 2261908 |
| Brean Asset Backed Securities Trust, Series 2025-RM10, Class M4 <sup>(a)</sup> | 5.000% | 01/25/65 | 1859595 | 1497803 |
| Brean Asset Backed Securities Trust, Series 2025-RM12, Class M4 <sup>(a)</sup> | 4.500% | 07/25/65 | 2366184 | 1775209 |
| Brean Asset Backed Securities Trust, Series 2023-RM7, Class M4 <sup>(a)</sup> | 4.500% | 03/25/78 | 5530716 | 4637606 |
| Brean Asset Backed Securities Trust, Series 2023-RM7, Class M2 <sup>(a)</sup> | 4.500% | 03/25/78 | 1942089 | 1756101 |
| Brean Asset Backed Securities Trust, Series 2023-RM7, Class M3 <sup>(a)</sup> | 4.500% | 03/25/78 | 1149338 | 1008264 |
| Finance of America HECM Buyout, Series 2024-HB1, Class M5 <sup>(a)</sup> | 6.000% | 10/01/34 | 3000000 | 2281339 |
| Onity Loan Investment Trust, Series 2025-HB1, Class M4 <sup>(a)</sup> | 3.000% | 06/25/38 | 2000000 | 1669870 |
| RMF Buyout Issuance Trust, Series 2021-HB1, Class M4 <sup>(a)</sup> | 4.704% | 11/25/31 | 1580000 | 1501156 |
| RMF Proprietary Issuance Trust, Series 2022-3, Class M3 <sup>(a)</sup> | 4.000% | 08/25/62 | 3750000 | 3329979 |
|  |  |  |  | 21719235 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Diamond Hill Securitized Credit Fund** | **Diamond Hill Securitized Credit Fund** | **Diamond Hill Securitized Credit Fund** | **Diamond Hill Securitized Credit Fund** | **Diamond Hill Securitized Credit Fund** |
| **Schedule of Investments (Continued)** | **Schedule of Investments (Continued)** | **Schedule of Investments (Continued)** | **Schedule of Investments (Continued)** | **Schedule of Investments (Continued)** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **Securitized - 97.4% (Continued)** | **Coupon** | **Maturity** | **Shares / Par Value** | **Fair Value** |
| **Laboratory - 2.3%** |  |  |  |  |
| Life Financial Services Trust, Series 2021-BMR, Class G <br> (1\* TSFR1M + 306) <sup>(a)(b)</sup> | 7.214% | 03/15/38 | $1225000 | $1207280 |
| Life Financial Services Trust, Series 2022-BMR2, Class C <br> (1\* TSFR1M + 209) <sup>(a)(b)</sup> | 6.243% | 05/15/39 | 1750000 | 1599062 |
|  |  |  |  | 2806342 |
| **Multifamily - 3.9%** |  |  |  |  |
| MultiFamily Structured Credit Risk Notes, Series 2021-MN2, Class B1 (1\* SOFR30A + 550) <sup>(a)(b)</sup> | 9.856% | 07/25/41 | 2500000 | 2499975 |
| MultiFamily Structured Credit Risk Notes, Series 2024-MN9, Class B1 (1\* SOFR30A + 600) <sup>(a)(b)</sup> | 10.348% | 10/25/44 | 2125000 | 2261391 |
|  |  |  |  | 4761366 |
| **Non-Agency MBS 2.0 - 2.3%** |  |  |  |  |
| Redwood Funding Trust, Series 2025-3, Class B <sup>(a)</sup> | 7.749% | 12/27/56 | 2800000 | 2798138 |
| **Office - 17.7%** |  |  |  |  |
| Banc of America Merrill Lynch Commercial Mortgage, Series 2020-BOC, Class A <sup>(a)</sup> | 2.627% | 01/15/32 | 2500000 | 2208166 |
| Banc of America Merrill Lynch Commercial Mortgage, Series 2016-SS1, Class A <sup>(a)</sup> | 3.665% | 12/15/35 | 3500000 | 3296557 |
| Banc of America Merrill Lynch Commercial Mortgage, Series 2020-BOC, Class D <sup>(a)</sup> | 3.289% | 01/15/32 | 5000000 | 3770477 |
| COLEM Mortgage Trust, Series 2022-HLNE, Class B <sup>(a)</sup> | 2.461% | 04/12/42 | 2000000 | 1774212 |
| COLEM Mortgage Trust, Series 2022-HLNE, Class D <sup>(a)</sup> | 2.461% | 04/12/42 | 1800000 | 1471351 |
| DBGS Mortgage Trust, Series 2018-5BP, Class D <sup>(a)</sup> | 5.961% | 06/15/33 | 1000000 | 870500 |
| Drop Mortgage Trust, Series 2021-FILE, Class A <br> (1\* TSFR1M + 126) <sup>(a)(b)</sup> | 5.414% | 10/15/43 | 1065000 | 1034714 |
| Drop Mortgage Trust, Series 2021-FILE, Class B <br> (1\* TSFR1M + 181) <sup>(a)(b)</sup> | 5.964% | 10/15/43 | 1738000 | 1649471 |
| NYT Mortgage Trust, Series 2019-NYT, Class D <br> (1\* TSFR1M + 230) <sup>(a)(b)</sup> | 6.661% | 12/15/35 | 1500000 | 1431739 |
| NYT Mortgage Trust, Series 2019-NYT, Class E <br> (1\* TSFR1M + 280) <sup>(a)(b)</sup> | 7.161% | 12/15/35 | 1000000 | 909493 |
| Wells Fargo Commercial Mortgage Trust, Series 2025-1918, <br> Class D <sup>(a)</sup> | 8.623% | 09/15/40 | 3000000 | 3027832 |
|  |  |  |  | 21444512 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Diamond Hill Securitized Credit Fund** | **Diamond Hill Securitized Credit Fund** | **Diamond Hill Securitized Credit Fund** | **Diamond Hill Securitized Credit Fund** | **Diamond Hill Securitized Credit Fund** |
| **Schedule of Investments (Continued)** | **Schedule of Investments (Continued)** | **Schedule of Investments (Continued)** | **Schedule of Investments (Continued)** | **Schedule of Investments (Continued)** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **Securitized - 97.4% (Continued)** | **Coupon** | **Maturity** | **Shares / Par Value** | **Fair Value** |
| **Residential Transition Loan - 2.8%** |  |  |  |  |
| Fidelis Mortgage Trust, Series 2025-RTL2, Class B <sup>(a)</sup> | 8.400% | 07/25/40 | $1000000 | $976768 |
| ROC Mortgage Trust, Series 2025-RTL1, Class M2 <sup>(a)</sup> | 8.539% | 02/25/40 | 2400000 | 2384854 |
|  |  |  |  | 3361622 |
| **Single Family Rental - 2.2%** |  |  |  |  |
| Progress Residential Trust, Series 2021-SFR3, Class A <sup>(a)</sup> | 1.637% | 05/17/26 | 149975 | 148841 |
| Progress Residential Trust, Series 2021-SFR6, Class D <sup>(a)</sup> | 2.225% | 07/17/38 | 2556000 | 2512435 |
|  |  |  |  | 2661276 |
| **Small Business - 6.8%** |  |  |  |  |
| CPC Asset Securitization, LLC, Series 2025-1A, Class D <sup>(a)</sup> | 11.240% | 07/15/31 | 2580000 | 2602942 |
| Kapitus Asset Securitization, LLC, Series 2024-1A, Class D <sup>(a)</sup> | 9.900% | 09/10/31 | 2100000 | 2118353 |
| Mulligan Asset Securitization Loans, Series 2024-1, Class C <sup>(a)</sup> | 12.057% | 10/15/31 | 2500000 | 2551286 |
| Mulligan Asset Securitization Loans, Series 2024-1, Class C NEW <sup>(a)</sup> | 12.057% | 10/15/31 | 1000000 | 1020514 |
|  |  |  |  | 8293095 |
| **Unsecured Consumer - 21.9%** |  |  |  |  |
| AMCR ABS Trust, Series 2023-1A, Class C <sup>(a)</sup> | 12.520% | 01/21/31 | 500000 | 526291 |
| AMCR ABS Trust, Series 2024-A, Class C <sup>(a)</sup> | 11.250% | 08/18/31 | 4082000 | 4348871 |
| Cherry Securitization Trust, Series 2024-1A, Class D <sup>(a)</sup> | 12.280% | 04/15/32 | 3000000 | 3065102 |
| Cherry Securitization Trust, Series 2025-1A, Class D <sup>(a)</sup> | 12.690% | 11/15/32 | 4010000 | 4132459 |
| Freedom Financial, Series 2022-4FP, Class CTF <sup>(a)(c)</sup> | 0.000% | 12/18/29 | 25976 | 4808158 |
| Marlette Funding Trust, Series 2024-1, Class R <sup>(a)(c)</sup> | 0.000% | 09/15/33 | 5000 | 862500 |
| Oportun Funding, LLC, Series 2025-A, Class E <sup>(a)</sup> | 10.000% | 02/08/33 | 1500000 | 1506576 |
| Oportun Funding, LLC, Series 2025-B, Class E <sup>(a)</sup> | 9.400% | 05/09/33 | 1000000 | 1010076 |
| Oportun Funding, LLC, Series 2025-C, Class E <sup>(a)</sup> | 9.200% | 07/08/33 | 1800000 | 1808119 |
| Pagaya AI Debt Selection Trust, Series 2025-3, Class E <sup>(a)</sup> | 12.626% | 12/15/32 | 2499495 | 2567430 |
| Pagaya Point of Sale Holdings, Series 2025-1, Class F <sup>(a)</sup> | 12.000% | 01/20/34 | 2000000 | 1880240 |
|  |  |  |  | 26515822 |
| **Total Securitized** (Cost $113,671,950) |  |  |  | $118036979 |

---

---

| | | |
|:---|:---|:---|
| **Diamond Hill Securitized Credit Fund** | **Diamond Hill Securitized Credit Fund** | **Diamond Hill Securitized Credit Fund** |
| **Schedule of Investments (Continued)** | **Schedule of Investments (Continued)** | **Schedule of Investments (Continued)** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **Registered Investment Companies - 2.3%** | **Shares** | **Fair Value** |
| State Street Institutional US Government Money Market Fund - Premier Class, 4.09% <sup>(e)</sup> (Cost $2,791,482) | 2791482 | $2791482 |
| **Total Investment Securities - 99.7%** (Cost $116,463,432) |  | $120828461 |
| **Other Assets in Excess of Liabilities - 0.3%** |  | 356145 |
| **Net Assets - 100.0%** |  | $121184606 |

---

<sup>(a)</sup> Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities have been deemed liquid under procedures approved by the Fund's Board of Trustees and may normally be sold to qualified institutional buyers in transactions exempt from registration. The total fair value of these securities as of September 30, 2025 was $117,108,104, representing 96.6% of net assets.

<sup>(b)</sup> Variable rate security. The rate shown is the effective interest rate as of September 30, 2025. The benchmark on which the rate is calculated is shown parenthetically, if applicable. Certain variable rate securities are not based on a published rate and spread but are determined by the issuer or agent and may be based on index changes, prerepayment of underlying positions and/or other variables. These securities do not indicate a reference rate and spread in their description above.

<sup>(c)</sup> Illiquid and fair valued security, using observable inputs, as adopted under procedures approved by the Board of Trustees. The total fair value of these securities as of September 30, 2025 was $5,826,658, representing 4.8% of net assets.

<sup>(d)</sup> Non-income producing security - security in default.

<sup>(e)</sup> The rate shown is the 7-day effective yield as of September 30, 2025.

IO - Interest Only

NA - National Association

SOFR - Secured Overnight Financing Rate

TSFR - CME Term SOFR

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Diamond Hill Securitized Credit Fund

- **b. Investment Company Act file number:** 811-23964

- **c. CIK number of Registrant:** 0002022290

- **d. LEI of Registrant:** 254900ODOUF69BJYHK36

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

  - **Street Address 1:** 325 John H. McConnell Blvd.

  - **City:** Columbus

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 43215

  - **Telephone number:** 888-226-5595

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

- **a. Name of Series:** DIAMOND HILL SECURITIZED CREDIT FUND

- **c. LEI of Series:** 254900ODOUF69BJYHK36

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

- **a. Date of fiscal year-end:** 2025-12-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $121320373.62

**Total Liabilities:** $135767.21

**Net Assets:** $121184606.41

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 186.84157135 | **1-Year:** 615.63771498 | **5-Year:** 874.90279471 | **10-Year:** 2578.68316991 | **30-Year:** 443.44750503

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

- **3-Month:** 27.04807321 | **1-Year:** 503.58716883 | **5-Year:** 93.63522136 | **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 | 0.94%                | 1.76%                | -0.07%               |
| Class ID N/A | 0.99%                | 1.63%                | 0.00%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $255106.18               | $179831.43                                 |
| Month 2  | $46451.81                | $1172005.23                                |
| Month 3  | $15464.56                | $-739312.28                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ally Bank Sandy (Utah)                               | Ally Bank Auto Credit-Linked Notes Series 2025-A, Class G                  | CUSIP: 02007G5K5<br>LEI: 549300C04BJ0G297NC13 | Long             | ABS-O            | CORP              | US        |   1858731 | PA      | $1876483.31   | 1.55%             | 2033-06-15      | Fixed         | 10.22%                | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association             | Government National Mortgage Association Series 2021-158, Class MT         | CUSIP: 38382XW35<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1605260 | PA      | $670350.48    | 0.55%             | 2051-08-20      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                           | Progress Residential Trust Series 221-SFR6, Class D                        | CUSIP: 74333HAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2556000 | PA      | $2512435.02   | 2.07%             | 2038-07-17      | Fixed         | 2.23%                 | Yes           |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TRUST 2025-A                        | Oportun Funding, LLC Series 2025-B, Class E                                | CUSIP: 68378QAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1010075.80   | 0.83%             | 2033-05-09      | Fixed         | 9.40%                 | Yes           |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TRUST 2025-A                        | Oportun Funding, LLC Series 2025-A, Class E                                | CUSIP: 68377TAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1506575.55   | 1.24%             | 2033-02-08      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust 2012-Lc5       | Wells Fargo Commerical Mortgage Trust Series 2025-1918, Class D            | CUSIP: 95004QAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3027832.20   | 2.50%             | 2040-09-15      | Variable      | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                     | Federal Home Loan Mortgage Corporation Series 3866, Class DS               | CUSIP: 3137AAEJ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    318205 | PA      | $258525.06    | 0.21%             | 2041-05-15      | Floating      | 0.13%                 | No            |                  2 | On Loan: No      |
| KAPITUS ASSET SECURITIZATION IV LLC                  | Kapitus Asset Securitization, LLC Series 2024-1A, Class D                  | CUSIP: 48555MAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2118352.53   | 1.75%             | 2031-09-10      | Fixed         | 9.90%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                     | Federal Home Loan Mortgage Corporation Series 2021-MN2, Class B1           | CUSIP: 35563JAC7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGA              | US        |   2500000 | PA      | $2499975.00   | 2.06%             | 2041-07-25      | Floating      | 9.86%                 | Yes           |                  2 | On Loan: No      |
| FREED ABS TRUST 2022-4FP                             | Freedom Financial Series 2022-4FP, Class CERT                              | CUSIP: 35634JAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     25976 | PA      | $4808157.60   | 3.97%             | 2029-12-18      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| RESEARCH-DRIVEN PAGAYA MOTOR TRUST 2025-4            | Research-Driven Pagaya Motor Asset Trust Series 2025-4A, Class E           | CUSIP: 76089NAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1750000 | PA      | $1751173.55   | 1.45%             | 2034-04-25      | Fixed         | 10.74%                | Yes           |                  2 | On Loan: No      |
| Bxmt Ltd                                             | BXMT Ltd. Series 2021-FL4, Class D                                         | CUSIP: 05609GAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1850000 | PA      | $1774157.40   | 1.46%             | 2038-05-15      | Floating      | 6.73%                 | Yes           |                  2 | On Loan: No      |
| TRICOLOR AUTO SECURITIZATION TRUST                   | Tricolor Auto Securitization Trust Series 2025-2A, Class E                 | CUSIP: 89617QAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1300000 | PA      | $156000.00    | 0.13%             | 2032-03-15      | Fixed         | 11.23%                | Yes           |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                          | Hertz Vehicle Financing, LLC Series 2023-2A, Class D                       | CUSIP: 42806MBZ1<br>LEI: 5493004IHDYOZ9K9WF47 | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $260377.60    | 0.21%             | 2029-09-25      | Fixed         | 9.40%                 | Yes           |                  2 | On Loan: No      |
| MULLIGAN ASSET SECURITIZATION II LLC                 | Mulligan Asset Securitization Loans Series 24-1 Class C                    | CUSIP: 62534LAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2551286.25   | 2.11%             | 2031-10-15      | Fixed         | 12.06%                | Yes           |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST                  | Brean Asset Backed Securities Trust Series 2021-RM1, Class M1              | CUSIP: 10638CAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2586042 | PA      | $2261907.90   | 1.87%             | 2063-10-25      | Fixed         | 1.60%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                  | US Bank Credit-Linked Notes Series 2025-SUP2, Class R                      | CUSIP: 90355PAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3825000 | PA      | $3824882.57   | 3.16%             | 2032-09-27      | Floating      | 10.68%                | Yes           |                  2 | On Loan: No      |
| CPC ASSET SECURITIZATION IV LLC                      | CPC Asset Securitization, LLC Series 2025-1A, Class D                      | CUSIP: 12675BAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2580000 | PA      | $2602942.13   | 2.15%             | 2031-07-15      | Fixed         | 11.24%                | Yes           |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TRUST 2025-A                        | Oportun Funding, LLC Series 2025-C, Class E                                | CUSIP: 68378RAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1800000 | PA      | $1808118.72   | 1.49%             | 2033-07-08      | Fixed         | 9.20%                 | Yes           |                  2 | On Loan: No      |
| Bxmt 2020-Fl2 Ltd.                                   | BXMT Ltd. Series 2020-FL2, Class D                                         | CUSIP: 12434LAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    125000 | PA      | $122289.25    | 0.10%             | 2038-02-15      | Floating      | 6.68%                 | Yes           |                  2 | On Loan: No      |
| 5 Bryant Park 2018-5bp Mortga                        | DBGS Mortgage Trust Series 15-5BP Class D                                  | CUSIP: 33830CAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $870500.00    | 0.72%             | 2033-06-15      | Floating      | 5.96%                 | Yes           |                  2 | On Loan: No      |
| BAMLL Commercial Mortgage Securities Trust 2016-Ashf | Banc of America Merrill Lynch Large Loan Inc. Series 2016-SS1, Class A     | CUSIP: 05525JAA1<br>LEI: 549300MWBLMUUG6B8094 | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3296556.90   | 2.72%             | 2035-12-15      | Fixed         | 3.67%                 | Yes           |                  2 | On Loan: No      |
| ACCELERATED 2021-1H LLC                              | Accelerated Assets, LLC Series 2021-1H, Class D                            | CUSIP: 00439KAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    527682 | PA      | $485775.92    | 0.40%             | 2040-10-20      | Fixed         | 3.58%                 | Yes           |                  2 | On Loan: No      |
| Perimeter Master Note Business Trust                 | Perimeter Master Note Business Trust Series 2025-1A, Class D               | CUSIP: 71384PBF7<br>LEI: 5493005H6EB040833X54 | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6081856.80   | 5.02%             | 2030-12-16      | Fixed         | 12.80%                | Yes           |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST                  | Brean Asset Backed Securities Series 2023-RM7, Class M4                    | CUSIP: 10638BAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5530716 | PA      | $4637605.70   | 3.83%             | 2078-03-25      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CHERRY SECURITIZATION TRUST 2024-1                   | Cherry Securitization Trust Series 2024-1A, Class D                        | CUSIP: 164737AD0<br>LEI: 213800F9SQ753JQHSW24 | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3065102.40   | 2.53%             | 2032-04-15      | Fixed         | 12.28%                | Yes           |                  2 | On Loan: No      |
| MULLIGAN ASSET SECURITIZATION II LLC                 | Mulligan Asset Securitization Loans Series 2024-1, Class CC                | CUSIP: 62534LAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1020514.50   | 0.84%             | 2031-10-15      | Fixed         | 12.06%                | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT SELECTION TRUST                       | Pagaya AI Debt Selection Trust Series 2025-3, Class E                      | CUSIP: 69547GAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2499495 | PA      | $2567429.60   | 2.12%             | 2032-12-15      | Fixed         | 12.63%                | Yes           |                  2 | On Loan: No      |
| FIDELIS MORTGAGE TRUST 2025-RTL2                     | Fidelis Mortgage Trust Series 2025-RTL2, Class B                           | CUSIP: 31575JAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $976768.10    | 0.81%             | 2040-07-25      | Variable      | 8.40%                 | Yes           |                  2 | On Loan: No      |
| AMCR ABS TRUST 2023-1                                | AMCR ABS Trust Series 2023-1A, Class C                                     | CUSIP: 00178CAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $526291.00    | 0.43%             | 2031-01-21      | Fixed         | 12.52%                | Yes           |                  2 | On Loan: No      |
| BAMLL Commercial Mortgage Securities Trust 2016-Ashf | Banc of America Merrill Lynch Commercial Mortgage Series 2020-BOC, Class A | CUSIP: 05551JAA8<br>LEI: 549300MWBLMUUG6B8094 | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2208166.25   | 1.82%             | 2032-01-15      | Fixed         | 2.63%                 | Yes           |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST                  | Brean Asset Backed Securities Trust Series 2023-RM7, Class M2              | CUSIP: 10638BAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1942089 | PA      | $1756101.34   | 1.45%             | 2078-03-25      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| ROC MORTGAGE TRUST 2025-RTL1                         | ROC Securities Trust Series 2025-RTL1, Class M2                            | CUSIP: 77119RAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2400000 | PA      | $2384853.60   | 1.97%             | 2040-02-25      | Variable      | 8.54%                 | Yes           |                  2 | On Loan: No      |
| AMCR ABS TRUST 2024-A                                | AMCR ABS Trust Series 2024-A Class C                                       | CUSIP: 00178EAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4082000 | PA      | $4348870.96   | 3.59%             | 2031-08-18      | Fixed         | 11.25%                | Yes           |                  2 | On Loan: No      |
| Truist Bank (North Carolina)                         | Truist Bank Auto Credit-Linked Notes Series 2025-1, Class D                | CUSIP: 897926CE9<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2400964.56   | 1.98%             | 2033-09-26      | Fixed         | 9.69%                 | Yes           |                  2 | On Loan: No      |
| PROGRESS RESIDENTIAL TST 2020-SFR3                   | Progress Residential Trust Series 2021-SFR3, Class A                       | CUSIP: 74333VAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    149975 | PA      | $148841.28    | 0.12%             | 2026-05-17      | Fixed         | 1.64%                 | Yes           |                  2 | On Loan: No      |
| GENESIS SLS FIN MSTR TR 2019-A                       | Genesis Sales Finance Master Trust Series 2024-B, Class F                  | CUSIP: 37186XBC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2030960.40   | 1.68%             | 2032-12-20      | Fixed         | 13.37%                | Yes           |                  2 | On Loan: No      |
| Rmf Buyout Issuance Tr 2018                          | RMF Buyout Issuance Trust Series 2021-HB1, Class M4                        | CUSIP: 74969TAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1580000 | PA      | $1501156.26   | 1.24%             | 2031-11-25      | Variable      | 4.70%                 | Yes           |                  2 | On Loan: No      |
| BAMLL Commercial Mortgage Securities Trust 2016-Ashf | Banc of America Merrill Lynch Commerical Mortgage Series 2020-BOC, Class D | CUSIP: 05551JAJ9<br>LEI: 549300MWBLMUUG6B8094 | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $3770477.00   | 3.11%             | 2032-01-15      | Variable      | 3.29%                 | Yes           |                  2 | On Loan: No      |
| MARLETTE FDG TST 2018-3                              | Marlette Funding Trust Series 2024-1A, Class R                             | CUSIP: 57108V102<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5000 | PA      | $862500.00    | 0.71%             | 2034-07-17      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Pagaya Point of Sale Holdings Trust 2025-1           | Pagaya Point of Sale Holdings Series 25-1 Class F                          | CUSIP: 694951AB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1880240.20   | 1.55%             | 2034-01-20      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| REDWOOD FUNDING TRUST 2025-3                         | Redwood Funding Trust Series 2025-3, Class B                               | CUSIP: 75806GAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2800000 | PA      | $2798138.00   | 2.31%             | 2056-12-27      | Variable      | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Bxmt Ltd                                             | BXMT Limited Series 2020-FL3, Class D                                      | CUSIP: 05608XAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    800000 | PA      | $773360.80    | 0.64%             | 2037-11-15      | Floating      | 7.78%                 | Yes           |                  2 | On Loan: No      |
| LIFE FINANCIAL SERVICES TRUST                        | Life Financial Services Trust Series 2021-BMR, Class G                     | CUSIP: 53218CAN0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1225000 | PA      | $1207280.50   | 1.00%             | 2038-03-15      | Floating      | 7.21%                 | Yes           |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST                  | Brean Asset Backed Securities Trust Series 2025-RM12, Class M4             | CUSIP: 10638KAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2366184 | PA      | $1775208.57   | 1.46%             | 2065-07-25      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| LIFE FINANCIAL SERVICES TRUST                        | Life Financial Services Trust Series 2022-BMR2, Class C                    | CUSIP: 53218DAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1750000 | PA      | $1599062.50   | 1.32%             | 2039-05-15      | Floating      | 6.24%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                     | MultiFamily Structured Credit Series 2024-MN9, Class B1                    | CUSIP: 355917AC9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGA              | US        |   2125000 | PA      | $2261391.43   | 1.87%             | 2044-10-25      | Floating      | 10.35%                | Yes           |                  2 | On Loan: No      |
| Finance Of America Hecm Buyout 2024-HB1              | Finance of America HECM Buyout Series 2024-HB1, Class M5                   | CUSIP: 31737DAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2281338.90   | 1.88%             | 2034-10-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| DROP MTGE TST                                        | Drop Mortgage Trust Series 2021-FILE, Class A                              | CUSIP: 26210YAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1065000 | PA      | $1034714.06   | 0.85%             | 2043-10-15      | Floating      | 5.41%                 | Yes           |                  2 | On Loan: No      |
| DROP MTGE TST                                        | Drop Mortgage Trust Series 2021-FILE, Class B                              | CUSIP: 26210YAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1738000 | PA      | $1649470.63   | 1.36%             | 2043-10-15      | Floating      | 5.96%                 | Yes           |                  2 | On Loan: No      |
| ONITY LOAN INVESTMENT TRUST 2025-HB1                 | Onity Loan Investment Trust Series 2025-HB1, Class M4                      | CUSIP: 68278EAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1669869.80   | 1.38%             | 2038-06-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Nyt Mortgage Trust                                   | NYT Mortgage Trust Series 2019-NYT, Class E                                | CUSIP: 62954PAN0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $909492.80    | 0.75%             | 2035-12-15      | Floating      | 7.16%                 | Yes           |                  2 | On Loan: No      |
| Ally Bank Sandy (Utah)                               | Ally Bank Auto Credit-Linked Notes Series 2024-B, Class G                  | CUSIP: 02007G4H3<br>LEI: 549300C04BJ0G297NC13 | Long             | ABS-O            | CORP              | US        |   1184550 | PA      | $1208413.36   | 1.00%             | 2032-09-15      | Fixed         | 11.39%                | Yes           |                  2 | On Loan: No      |
| COLEM 2022-HLNE MORTGAGE TRUST                       | COLEM Mortgage Trust Series 2022-HLNE, Class D                             | CUSIP: 12659JAJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1800000 | PA      | $1471351.50   | 1.21%             | 2042-04-12      | Variable      | 2.46%                 | Yes           |                  2 | On Loan: No      |
| COLEM 2022-HLNE MORTGAGE TRUST                       | Colem 2021-HLNE Mortgage Trust Series 22-HLNE Class B                      | CUSIP: 12659JAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1774212.20   | 1.46%             | 2042-04-12      | Variable      | 2.46%                 | Yes           |                  2 | On Loan: No      |
| Nyt Mortgage Trust                                   | NYT Mortgage Trust Series 2019-NYT, Class D                                | CUSIP: 62954PAL4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1431739.20   | 1.18%             | 2035-12-15      | Floating      | 6.66%                 | Yes           |                  2 | On Loan: No      |
| RMF PRPTR ISSN TR 2022-3                             | RMF Proprietary Issuance Trust Series 2022-3, Class M3                     | CUSIP: 74970FAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3750000 | PA      | $3329979.00   | 2.75%             | 2062-08-25      | Variable      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST                  | Brean Asset Backed Securities Trust Series 2023-RM7, Class M3              | CUSIP: 10638BAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1149338 | PA      | $1008263.93   | 0.83%             | 2078-03-25      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| State Street Institutional Investment Trust          | State Street Institutional US Government Money Market Fund, Premier Class  | CUSIP: 857492706<br>LEI: 549300P1E098W6ES7M39 | Long             | STIV             | RF                | US        |   2791482 | NS      | $2791481.60   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CHERRY SECURITIZATION TRUST 2025-1                   | Cherry Securitization Trust Series 2025-1A, Class D                        | CUSIP: 16473RAD6<br>LEI: 213800F9SQ753JQHSW24 | Long             | ABS-O            | CORP              | US        |   4010000 | PA      | $4132458.58   | 3.41%             | 2032-11-15      | Fixed         | 12.69%                | Yes           |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST                  | Brean Asset Backed Securities Series 2025-RM10, Class M4                   | CUSIP: 10638FAN5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1859595 | PA      | $1497803.30   | 1.24%             | 2065-01-25      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-01

**Name of Applicant:** Diamond Hill Securitized Credit Fund

**Signature:** Julie Roach

**Name of Signer:** Julie Roach

**Title:** Treasurer