# EDGAR Filing Document

**Accession Number:** 0002076022
**File Stem:** 0001104659-26-021980
**Filing Date:** 2026-3
**Character Count:** 40482
**Document Hash:** 27da0c3e2156937b8536e2df9d61eef5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-021980.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0001104659-26-021980

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EP Private Capital Fund I
- **CENTRAL INDEX KEY:** 0002076022

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-24109
- **FILM NUMBER:** 26704082

**BUSINESS ADDRESS:**
- **STREET 1:** 600 STEAMBOAT ROAD
- **STREET 2:** SUITE 202
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830
- **BUSINESS PHONE:** (203) 340-8500

**MAIL ADDRESS:**
- **STREET 1:** 600 STEAMBOAT ROAD
- **STREET 2:** SUITE 202
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830

## Nport-Ex

**EP Private Capital Fund I**

**Schedule of Investments**

**(Expressed in U.S. dollars)**

**As of December 31, 2025**

---

| | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type (1)** | **Country** | **Industry** | **Issuer\*** | **Investment <br> Description** | **Interest <br> Rate** | **Index** | **Spread** | **Maturity** |  |  |  |  | **Acquisition <br> Date** | **Principal <br> Amount/<br> Quantity** | **Cost** | **Fair <br> Value(2)** | **Percentage <br> of Net <br> Assets** |
| Common Stock | United States | Financial Services | Franklin BSP Realty Trust, Inc. | Common Equity |  |  |  |  | (3) |  |  |  | 9/17/2025 | 121898 | 1281932 | 1222637 | 1.43% |
| Common Stock | United States | Financial Services | Horizon Technology Finance Corporation | Common Equity |  |  |  |  | (3) |  |  |  | 9/4/2025 | 11393 | 72167 | 73485 | 0.09% |
| Common Stock | United States | Financial Services | Oxford Lane Capital Corp. | Common Equity |  |  |  |  | (3) |  |  |  | 8/12/2025 | 104224 | 1444141 | 1525839 | 1.78% |
| Common Stock | United States | Financial Services | Pasadena Private Lending, Inc. | Common Equity |  |  |  | 12/22/2031 |  |  | (5) | (7) | 12/18/2025 | 11681 | 109130 | 109130 | 0.13% |
| Common Stock | United States | Financial Services | XAI Octagon Floating Rate & Alternative Income Trust | Common Equity |  |  |  |  |  | (4) |  |  | 9/18/2025 | 39271 | 183611 | 188501 | 0.22% |
| Common Stock Total |  |  |  |  |  |  |  |  |  |  |  |  |  | 288467 | 3090981 | 3119592 | 3.64% |
| Loans and Notes | United States | Financial Services | ACRES Commercial Realty Corporation | Senior Unsecured Note | 5.75% |  |  | 8/15/2026 |  | (4) |  | (7) | 11/12/2025 | 1184000 | 1158859 | 1157979 | 1.35% |
| Loans and Notes | United States | Financial Services | Adamas Trust Inc. | Senior Unsecured Note | 9.13% |  |  | 4/1/2030 |  | (4) |  |  | 9/19/2025 | 176 | 4279 | 4414 | 0.01% |
| Loans and Notes | United States | Financial Services | Adamas Trust Inc. | Senior Unsecured Note | 9.88% |  |  | 10/1/2030 |  | (4) |  |  | 8/20/2025 | 285716 | 7143369 | 7391473 | 8.62% |
| Loans and Notes | United States | Financial Services | Arbor Realty SR Inc. | Senior Unsecured Note | 5.00% |  |  | 12/30/2028 |  | (4) | (5) | (7) | 12/4/2025 | 2670000 | 2344579 | 2354940 | 2.75% |
| Loans and Notes | United States | Financial Services | BCP Investment Corporation | Senior Secured Note | 7.75% |  |  | 10/15/2030 |  | (4) |  |  | 10/10/2025 | 2755000 | 2695660 | 2776070 | 3.24% |
| Loans and Notes | United States | Financial Services | BP LPI A-1/A-2 LLC | Senior Secured Loan | 8.48% | 1M SOFR | 4.75% | 12/22/2031 |  | (6) | (5) | (7)(10) | 12/22/2025 | 9280859 | 9087247 | 9086360 | 10.59% |
| Loans and Notes | United States | Financial Services | BP LPI A-1/A-2 LLC | Senior Secured Note | 13.73% | 1M SOFR | 10.00% | 12/22/2031 |  | (6) | (5) | (7)(10) | 12/22/2025 | 3176065 | 3176065 | 3176065 | 3.70% |
| Loans and Notes | United States | Financial Services | Broadmark Realty Capital Inc. | Senior Unsecured Note | 5.00% |  |  | 11/15/2026 |  | (4) |  | (7) | 9/2/2025 | 2079000 | 1994534 | 1991436 | 2.32% |
| Loans and Notes | United States | Financial Services | BSD Capital Inc. | Senior Unsecured Note | 6.62% | 3M SOFR | 2.66% | 10/31/2027 |  | (6) | (5) | (7) | 8/8/2025 | 68000 | 62399 | 62220 | 0.07% |
| Loans and Notes | United States | Financial Services | Carlyle Credit Income Fund | Convertible Preferred Shares | 7.25% |  |  | 10/30/2030 |  | (4) | (5) | (7) | 10/27/2025 | 10500 | 9765000 | 9864750 | 11.50% |
| Loans and Notes | United States | Financial Services | Claros Mortgage Trust Inc. | Senior Secured Loan | 8.56% | 1M SOFR | 4.50% | 8/10/2026 |  | (6) |  | (7) | 10/27/2025 | 6339737 | 6150038 | 6173319 | 7.20% |
| Loans and Notes | United States | Financial Services | Great Elm Capital Corp. | Senior Unsecured Note | 7.75% |  |  | 12/31/2030 |  | (4) |  |  | 9/5/2025 | 74857 | 1834371 | 1873446 | 2.18% |
| Loans and Notes | United States | Financial Services | Great Elm Capital Corp. | Senior Unsecured Note | 8.13% |  |  | 12/31/2029 |  | (4) |  |  | 10/2/2025 | 1460 | 36400 | 36719 | 0.04% |
| Loans and Notes | United States | Financial Services | Horizon Technology Finance Corporation | Convertible Senior Unsecured Note | 5.50% |  |  | 9/4/2030 |  | (4) | (5) | (7)(10) | 9/4/2025 | 3186830 | 2933746 | 3076884 | 3.59% |
| Loans and Notes | United States | Financial Services | Invesco CLO Equity Fund 5, L.P. | Senior Unsecured Note | 9.00% |  |  | 3/14/2035 |  | (4) | (5) | (7)(10) | 10/1/2025 | 2861879 | 2805418 | 2804642 | 3.27% |
| Loans and Notes | United States | Financial Services | METROPOLITAN LEVERED PARTNERS FUND 2025 LP | Senior Secured Loan | 8.20% | 3M SOFR | 4.50% | 12/18/2031 |  | (6) | (5) | (7) | 12/18/2025 | 780250 | 764745 | 764645 | 0.89% |
| Loans and Notes | United States | Financial Services | Oxford Lane Capital Corp. | Senior Unsecured Note | 6.75% |  |  | 3/31/2031 |  | (4) |  |  | 8/12/2025 | 3654 | 86170 | 88014 | 0.10% |
| Loans and Notes | United States | Financial Services | Oxford Lane Capital Corp. | Senior Unsecured Note | 7.95% |  |  | 2/29/2032 |  | (4) |  |  | 8/12/2025 | 18243 | 457625 | 461001 | 0.54% |
| Loans and Notes | United States | Financial Services | Oxford Lane Capital Corp. | Senior Unsecured Note | 8.75% |  |  | 6/30/2030 |  | (4) |  |  | 8/12/2025 | 61 | 1570 | 1563 | 0.00% |
| Loans and Notes | United States | Financial Services | Pasadena Private Lending, Inc. | Senior Secured Loan | 13.44% | 3M SOFR | 9.75% | 1/31/2031 |  | (6) | (5) | (7)(10) | 12/22/2025 | 4109500 | 3905126 | 3943383 | 4.60% |
| Loans and Notes | United States | Financial Services | Ready Capital Corporation | Senior Unsecured Note | 5.50% |  |  | 12/30/2028 |  | (4) |  | (7) | 8/7/2025 | 6176000 | 5314900 | 4863724 | 5.67% |
| Loans and Notes | United States | Financial Services | Ready Capital Corporation | Senior Unsecured Note | 5.75% |  |  | 2/15/2026 |  | (4) |  |  | 8/12/2025 | 9002 | 223077 | 225500 | 0.26% |
| Loans and Notes | United States | Financial Services | Ready Capital Corporation | Senior Unsecured Note | 6.20% |  |  | 7/30/2026 |  | (4) |  |  | 8/14/2025 | 5532 | 135397 | 136087 | 0.16% |
| Loans and Notes | United States | Financial Services | Ready Capital Corporation | Senior Unsecured Note | 7.38% |  |  | 7/31/2027 |  | (4) |  | (7) | 8/1/2025 | 2953000 | 2809499 | 2776561 | 3.24% |
| Loans and Notes | United States | Financial Services | Ready Capital Corporation | Senior Unsecured Note | 9.00% |  |  | 12/15/2029 |  | (4) |  |  | 8/1/2025 | 46012 | 1026081 | 964412 | 1.12% |
| Loans and Notes | United States | Financial Services | Sachem Capital Corp. | Senior Unsecured Note | 6.00% |  |  | 12/30/2026 |  | (4) |  |  | 8/5/2025 | 33318 | 788765 | 810294 | 0.94% |
| Loans and Notes | United States | Financial Services | Sachem Capital Corp. | Senior Unsecured Note | 6.00% |  |  | 3/30/2027 |  | (4) |  |  | 8/5/2025 | 17446 | 390094 | 403177 | 0.47% |
| Loans and Notes | United States | Financial Services | Sachem Capital Corp. | Senior Unsecured Note | 7.13% |  |  | 6/30/2027 |  | (4) |  |  | 8/5/2025 | 8869 | 197672 | 205867 | 0.24% |
| Loans and Notes | United States | Financial Services | Sachem Capital Corp. | Senior Unsecured Note | 8.00% |  |  | 9/30/2027 |  | (4) |  |  | 8/5/2025 | 4500 | 101804 | 105390 | 0.12% |
| Loans and Notes | United States | Financial Services | Velocity Commercial Capital, LLC | Senior Secured Note | 7.13% |  |  | 3/15/2027 |  | (4) | (5) | (7) | 8/12/2025 | 4836000 | 4728734 | 4768296 | 5.56% |
| Loans and Notes | United States | Financial Services | Velocity Commercial Capital, LLC | Senior Secured Note | 9.88% |  |  | 2/15/2029 |  | (4) | (5) | (7) | 8/19/2025 | 692000 | 696958 | 710684 | 0.83% |
| Loans and Notes | United States | Financial Services Total |  |  |  |  |  |  |  |  |  |  |  | 53667467 | 72820181 | 73059314 | 85.16% |
| Loans and Notes | United States | Structured Finance | ALP CFO 2025, L.P. | Senior Secured Collateralized Fund Obligation Debt, Class C Note | 12.24% |  |  | 7/15/2037 |  | (4) | (5) | (7) | 7/31/2025 | 4143000 | 4143000 | 4223660 | 4.92% |
| Loans and Notes | United States | Structured Finance | ALP CFO 2025, L.P. | Senior Secured Collateralized Fund Obligation Debt, Class M Note | 14.00% |  |  | 7/15/2037 |  | (4) | (5) | (7) | 7/30/2025 | 4662000 | 4662000 | 4728792 | 5.51% |
| Loans and Notes | United States | Structured Finance | CVC Structured Solutions 2, LLC | Senior Secured Collateralized Fund Obligation Debt, Class C Loan | 12.50% | US CMT 5Y | 8.75% | 9/3/2040 |  | (6) | (5) | (7)(10) | 9/3/2025 | 824495 | 713914 | 839062 | 0.98% |
| Loans and Notes | United States | Structured Finance | Dawson Rated Fund 5-R1 LP | Senior Secured Rated Feeder Fund Debt, Class B-1 Loan | 9.16% | US_CMT_3Y_5Y_AVG |  | 11/15/2040 |  | (6) | (5) | (7)(10) | 10/9/2025 | 671300 | 671300 | 671300 | 0.78% |
| Loans and Notes | United States | Structured Finance | GCM Grosvenor Credit Secondaries Structured Note 2025, LP | Senior Secured Collateralized Fund Obligation Debt, Class C Note | 11.99% | 3M SOFR | 8.00% | 9/20/2037 |  | (6) | (5) | (7)(10) | 9/26/2025 | 2569531 | 2569531 | 2569428 | 3.00% |
| Loans and Notes | United States | Structured Finance | MOPAC Issuer, LLC | Senior Secured Collateralized Fund Obligation Debt, Class C Loan | 11.81% |  |  | 12/30/2050 |  | (4) | (5) | (7)(10) | 11/25/2025 | 1508100 | 1508100 | 1508159 | 1.76% |
| Loans and Notes | United States | Structured Finance Total |  |  |  |  |  |  |  |  |  |  |  | 14378425 | 14267845 | 14540402 | 16.95% |
| Loans and Notes Total |  |  |  |  |  |  |  |  |  |  |  |  |  | 68045892 | 87088026 | 87599716 | 102.11% |
| Preferred Stock | United States | Financial Services | Adamas Trust Inc. | Preferred Stock, Series F | 6.88% |  |  |  |  | (4) |  |  | 8/27/2025 | 17595 | 389516 | 393776 | 0.46% |
| Preferred Stock | United States | Financial Services | Adamas Trust Inc. | Preferred Stock, Series M | 11.28% |  |  |  |  | (4) |  |  | 10/1/2025 | 11359 | 281538 | 280340 | 0.33% |
| Preferred Stock | United States | Financial Services | Arbor Realty SR Inc. | Perpetual Preferred Equity | 6.25% |  |  |  |  | (4) |  |  | 8/1/2025 | 71869 | 1587906 | 1563869 | 1.82% |
| Preferred Stock | United States | Financial Services | KKR Real Estate Finance Trust Inc. | Preferred Stock | 6.50% |  |  |  |  | (4) |  |  | 12/5/2025 | 1423 | 25217 | 25998 | 0.03% |
| Preferred Stock | United States | Financial Services | Lument Finance Trust, Inc. | Preferred Stock | 7.88% |  |  |  |  | (4) |  |  | 10/2/2025 | 7565 | 152351 | 157276 | 0.18% |
| Preferred Stock | United States | Financial Services | National Healthcare Properties, Inc. | Preferred Stock | 7.38% |  |  |  |  | (4) |  |  | 11/6/2025 | 1340 | 24177 | 25688 | 0.03% |
| Preferred Stock | United States | Financial Services | National Healthcare Properties, Inc. | Preferred Stock, Series B | 7.13% |  |  |  |  | (4) |  |  | 8/6/2025 | 9953 | 163486 | 182936 | 0.21% |
| Preferred Stock | United States | Financial Services | Pasadena Private Lending, Inc. | Preferred Stock | 10.00% |  |  | 4/20/2031 |  | (4) | (5) | (7) | 10/17/2025 | 2055 | 2055000 | 1928226 | 2.25% |
| Preferred Stock | United States | Financial Services | Pasadena Private Lending, Inc. | Preferred Stock | 10.00% |  |  | 12/22/2031 |  | (4) | (5) | (7) | 12/22/2025 | 11681 | 513964 | 404834 | 0.47% |
| Preferred Stock | United States | Financial Services | Ready Capital Corporation | Preferred Stock, Series E | 6.50% |  |  |  |  | (4) |  |  | 10/23/2025 | 10878 | 154720 | 151966 | 0.18% |
| Preferred Stock | United States | Financial Services | Rithm Capital Corp. | Preferred Stock | 10.22% | 3M SOFR | 5.90% |  |  | (6) |  |  | 11/18/2025 | 148 | 3712 | 3783 | 0.00% |
| Preferred Stock | United States | Financial Services | Rithm Capital Corp. | Preferred Stock, Series E | 8.75% |  |  |  |  | (4) |  |  | 9/19/2025 | 796 | 19693 | 20330 | 0.02% |
| Preferred Stock | United States | Financial Services | Rithm Property Trust Inc. | Preferred Stock | 9.88% |  |  |  |  | (4) |  |  | 10/31/2025 | 135 | 3329 | 3409 | 0.00% |
| Preferred Stock | United States | Financial Services | Sachem Capital Corp. | Preferred Stock, Series A | 7.75% |  |  |  |  | (4) |  |  | 8/5/2025 | 866 | 13753 | 15372 | 0.02% |
| Preferred Stock Total |  |  |  |  |  |  |  |  |  |  |  |  |  | 147663 | 5388363 | 5157803 | 6.01% |
| Warrants | United States | Financial Services | Pasadena Private Lending, Inc. | Warrants | 0.00% |  |  |  | (3) |  | (5) | (7) | 10/20/2025 | 27140 |  | 253556 | 0.30% |
| Warrants Total |  |  |  |  |  |  |  |  |  |  |  |  |  | 27140 | - | 253556 | 0.30% |
|  |  |  |  |  |  | Total Investments, At Fair Value (8) | Total Investments, At Fair Value (8) | Total Investments, At Fair Value (8) | Total Investments, At Fair Value (8) | Total Investments, At Fair Value (8) | Total Investments, At Fair Value (8) | Total Investments, At Fair Value (8) | Total Investments, At Fair Value (8) | 68509162 | 95567370 | 96130667 |  |
|  |  |  |  |  |  | Net Assets Above (Below) Fair Value of Investment | Net Assets Above (Below) Fair Value of Investment | Net Assets Above (Below) Fair Value of Investment | Net Assets Above (Below) Fair Value of Investment | Net Assets Above (Below) Fair Value of Investment | Net Assets Above (Below) Fair Value of Investment | Net Assets Above (Below) Fair Value of Investment | Net Assets Above (Below) Fair Value of Investment |  |  | (10340752) |  |
|  |  |  |  |  |  | Net Assets as of December 31, 2025 (8) | Net Assets as of December 31, 2025 (8) | Net Assets as of December 31, 2025 (8) | Net Assets as of December 31, 2025 (8) | Net Assets as of December 31, 2025 (8) | Net Assets as of December 31, 2025 (8) | Net Assets as of December 31, 2025 (8) | Net Assets as of December 31, 2025 (8) |  |  | 85789915 |  |

---

(\*) Unless otherwise noted, the Trust is not affiliated with, nor does it "control" (as such term is defined in the Investment Company Act of 1940 (the "1940 Act")), any of the issuers listed. In general, under the 1940 Act, the Trust would be presumed to "control" an issuer if it owned 25% or more of its voting securities.

(1) Pursuant to the terms of the credit facility agreement, a security interest in favor of the lender has been granted with respect to all investments.

(2) Fair value is determined by the Adviser in accordance with written valuation policies and procedures, subject to oversight by the Trust's Board of Trustees, in accordance with Rule 2a-5 under the 1940 Act.

(3) Investment is not income producing

(4) Fixed rate investment.

(5) Investment is classified as Level III

(6) Variable rate investment. Interest rate shown reflects the rate in effect at the reporting date. Investment description includes the reference rate and spread.

(7) Securities exempt from registration under the Securities Act of 1933, and are deemed to be "restricted securities". As of December 31, 2025, the aggregate fair value of these securities is $74.6 million, or 87.0% of the Fund's net assets.

(8) Amounts may not foot due to rounding

(9) Country represents the principal country of risk where the investment has exposure.

(10) This investment has an unfunded commitment as of December 31, 2025.

<u>Reference Key:</u>

SOFR- Secured Overnight Financing Rate

US CMT- United States Constant Maturity Treasury Rate

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** EP Private Capital Fund I

- **b. Investment Company Act file number:** 811-24109

- **c. CIK number of Registrant:** 0002076022

- **d. LEI of Registrant:** 254900CT3UJYS7QZ9S85

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

  - **Street Address 1:** 600 Steamboat Road

  - **City:** Greenwich

  - **State:** CT

  - **Foreign country:** US

  - **Zip / Postal Code:** 06830

  - **Telephone number:** 203-340-8500

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

- **a. Name of Series:** EP Private Capital Fund I

- **c. LEI of Series:** 254900CT3UJYS7QZ9S85

**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:** $106161471.60

**Total Liabilities:** $20371556.48

**Net Assets:** $85789915.14

**Delayed Delivery Securities:** $39684405.91

**Cash Not Reported:** $12944904.81

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0 | **1-Year:** -2081.21 | **5-Year:** -14250.03 | **10-Year:** -3259.28 | **30-Year:** -1240.72

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

- **3-Month:** 0 | **1-Year:** -366.67 | **5-Year:** -2948.81 | **10-Year:** -6705.03 | **30-Year:** -2197.66

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | 0.25%                | 0.30%                | 0.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-38211.00               | $6333.00                                   |
| Month 2  | $-77118.00               | $248443.00                                 |
| Month 3  | $-47675.00               | $-158449.00                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Claros Mortgage Trust Inc                                 | Senior Secured Loan                   | CUSIP: 18269PAC6<br>LEI: N/A | Long             | DBT              | CORP              | US        |   6339737 | PA      | $6173319.24   | 7.20%             | 2026-08-10      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Velocity Commercial Capital, LLC                          | Senior Secured Note                   | CUSIP: 92259RAA3<br>LEI: N/A | Long             | DBT              | CORP              | US        |   4836000 | PA      | $4768296.00   | 5.56%             | 2027-03-15      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Velocity Commercial Capital LLC                           | Senior Secured Note                   | CUSIP: 92259RAC9<br>LEI: N/A | Long             | DBT              | CORP              | US        |    692000 | PA      | $710684.00    | 0.83%             | 2029-02-15      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| ALP CFO 2025, L.P.                                        | Senior Secured CFO Debt, Class C Note | CUSIP: 020529AC7<br>LEI: N/A | Long             | DBT              | CORP              | US        |   4143000 | PA      | $4223660.48   | 4.92%             | 2037-07-15      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| ALP CFO 2025, L.P.                                        | Senior Secured CFO Debt, Class M Note | CUSIP: N/A<br>LEI: N/A       | Long             | DBT              | CORP              | US        |   4662000 | PA      | $4728792.47   | 5.51%             | 2037-07-15      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| CVC Structured Solutions 2, LLC                           | Senior Secured CFO Debt, Class C Loan | CUSIP: 12690KAC9<br>LEI: N/A | Long             | DBT              | CORP              | US        |    824495 | PA      | $839062.17    | 0.98%             | 2040-09-03      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| DAWSON LOGAN 2025-L5 LP                                   | Senior Secured CFO Debt, Class C Loan | CUSIP: 23937PAC8<br>LEI: N/A | Long             | DBT              | CORP              | US        |    671300 | PA      | $671300.00    | 0.78%             | 2040-11-15      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| GCM Grosvenor Credit Secondaries Structured Note 2025, LP | Senior Secured CFO Debt, Class C Note | CUSIP: 36164SAC8<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2569531 | PA      | $2569427.56   | 3.00%             | 2037-09-20      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| ACRES Commercial Realty Corp                              | Senior Unsecured Note                 | CUSIP: 00489QAA0<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1184000 | PA      | $1157979.11   | 1.35%             | 2026-08-15      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Invesco CLO Equity Fund 5, L.P.                           | Senior Unsecured Note                 | CUSIP: 46152#AA3<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2861879 | PA      | $2804641.62   | 3.27%             | 2035-03-14      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Arbor Realty SR Inc                                       | Senior Unsecured Note                 | CUSIP: 03881NA*8<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2670000 | PA      | $2354940.00   | 2.75%             | 2028-12-30      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Horizon Technology Finance Corporation                    | Convertible Senior Unsecured Note     | CUSIP: N/A<br>LEI: N/A       | Long             | DBT              | CORP              | US        |   3186830 | PA      | $3076884.37   | 3.59%             | 2030-09-04      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| MOPAC Issuer, LLC                                         | Senior Secured CFO Debt, Class C Loan | CUSIP: 55433@AD1<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1508100 | PA      | $1508159.42   | 1.76%             | 2050-12-30      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| METROPOLITAN LEVERED PARTNERS FUND 2025 LP                | Senior Secured Loan                   | CUSIP: 59220@AA6<br>LEI: N/A | Long             | DBT              | CORP              | US        |    780250 | PA      | $764645.00    | 0.89%             | 2031-12-18      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| BP LPI A-1 LLC (Basepoint)                                | Senior Secured Loan                   | CUSIP: 05661@AA5<br>LEI: N/A | Long             | DBT              | CORP              | US        |   9280859 | PA      | $9086360.28   | 10.59%            | 2031-12-22      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| BP LPI A-1/A-2 LLC (Basepoint)                            | Senior Secured Note                   | CUSIP: 05661@AJ6<br>LEI: N/A | Long             | DBT              | CORP              | US        |   3176065 | PA      | $3176065.20   | 3.70%             | 2031-12-22      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Horizon Technology Finance Corporation                    | Common Stock                          | CUSIP: 44045A102<br>LEI: N/A | Long             | EC               | CORP              | US        |     11393 | PA      | $73484.85     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| XAI Octagon Floating Rate Alternative Income Trust        | Common Stock                          | CUSIP: 98400T106<br>LEI: N/A | Long             | EC               | CORP              | US        |     39271 | NS      | $188500.80    | 0.22%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Oxford Lane Capital Corp                                  | Common Stock                          | CUSIP: 691543847<br>LEI: N/A | Long             | EC               | CORP              | US        |    104224 | PA      | $1525839.36   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Pasadena Private Lending, Inc.                            | Common Stock                          | CUSIP: N/A<br>LEI: N/A       | Long             | EC               | CORP              | US        |     27140 | NS      | $253555.72    | 0.30%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Adamas Trust Inc                                          | Senior Secured Note                   | CUSIP: 649604824<br>LEI: N/A | Long             | EP               | CORP              | US        |       176 | PA      | $4414.08      | 0.01%             | 2030-04-01      | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| Arbor Realty Trust Inc                                    | Senior Secured Note                   | CUSIP: 038923850<br>LEI: N/A | Long             | EP               | CORP              | US        |     71869 | PA      | $1563869.44   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin BSP Realty Trust Inc                             | Common Equity                         | CUSIP: 35243J101<br>LEI: N/A | Long             | EC               | CORP              | US        |    121898 | PA      | $1222636.94   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlyle Credit Income Fund                                | Convertible Preferred Shares          | CUSIP: N/A<br>LEI: N/A       | Long             | EP               | CORP              | US        |     10500 | PA      | $9864750.00   | 11.50%            | 2030-10-30      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Great Elm Capital Corp                                    | Senior Secured Note                   | CUSIP: 390320877<br>LEI: N/A | Long             | EP               | CORP              | US        |      1460 | PA      | $36719.00     | 0.04%             | 2029-12-31      | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| Great Elm Capital Corp                                    | Senior Secured Note                   | CUSIP: 390320869<br>LEI: N/A | Long             | EP               | CORP              | US        |     74857 | PA      | $1873446.14   | 2.18%             | 2030-12-31      | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| Lument Finance Trust Inc                                  | Preferred Stock                       | CUSIP: 55025L207<br>LEI: N/A | Long             | EP               | CORP              | US        |      7565 | PA      | $157276.35    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Trust Inc                                      | Preferred Stock, Series B             | CUSIP: 42226B303<br>LEI: N/A | Long             | EP               | CORP              | US        |      9953 | PA      | $182936.14    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Adamas Trust Inc                                          | Senior Secured Note                   | CUSIP: 649604865<br>LEI: N/A | Long             | EP               | CORP              | US        |     17595 | PA      | $393776.10    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Adamas Trust Inc                                          | Senior Secured Note                   | CUSIP: 649604873<br>LEI: N/A | Long             | EP               | CORP              | US        |     11359 | PA      | $280340.12    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Adamas Trust Inc                                          | Senior Secured Note                   | CUSIP: 649604816<br>LEI: N/A | Long             | EP               | CORP              | US        |    285716 | PA      | $7391472.92   | 8.62%             | 2030-10-01      | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| OFS Credit Co Inc                                         | Senior Secured Note                   | CUSIP: N/A<br>LEI: N/A       | Short            | EP               | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2026-04-30      | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| Oxford Lane Capital Corp                                  | Senior Secured Note                   | CUSIP: 691543854<br>LEI: N/A | Long             | EP               | CORP              | US        |     18243 | PA      | $461000.61    | 0.54%             | 2032-02-29      | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| BCP Investment Corp                                       | Senior Secured Note                   | CUSIP: 73688FAD4<br>LEI: N/A | Short            | DBT              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2028-10-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Oxford Lane Capital Corp                                  | Senior Secured Note                   | CUSIP: 691543862<br>LEI: N/A | Long             | EP               | CORP              | US        |        61 | PA      | $1562.82      | 0.00%             | 2030-06-30      | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| Oxford Lane Capital Corp                                  | Senior Secured Note                   | CUSIP: 691543706<br>LEI: N/A | Long             | EP               | CORP              | US        |      3654 | PA      | $88013.90     | 0.10%             | 2031-03-31      | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| Pasadena Private Lending, Inc.                            | Preferred Equity                      | CUSIP: N/A<br>LEI: N/A       | Long             | EP               | CORP              | US        |      2055 | PA      | $1928226.10   | 2.25%             | 2031-04-20      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Ready Capital Corp                                        | Preferred Stock, Series E             | CUSIP: 75574U887<br>LEI: N/A | Long             | EP               | CORP              | US        |     10878 | PA      | $151965.66    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Ready Capital Corp                                        | Senior Unsecured Note                 | CUSIP: 75574U838<br>LEI: N/A | Long             | EP               | CORP              | US        |     46012 | PA      | $964411.52    | 1.12%             | 2029-12-15      | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| Ready Capital Corp                                        | Senior Unsecured Note                 | CUSIP: 75574U606<br>LEI: N/A | Long             | EP               | CORP              | US        |      9002 | PA      | $225500.10    | 0.26%             | 2026-02-15      | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| Ready Capital Corp                                        | Senior Unsecured Note                 | CUSIP: 75574U408<br>LEI: N/A | Long             | EP               | CORP              | US        |      5532 | PA      | $136087.20    | 0.16%             | 2026-07-30      | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| Rithm Capital Corp                                        | Preferred Stock, Series E             | CUSIP: 64828T805<br>LEI: N/A | Long             | EP               | CORP              | US        |       796 | PA      | $20329.84     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Rithm Property Trust Inc                                  | Preferred Stock                       | CUSIP: 38983D862<br>LEI: N/A | Long             | EP               | CORP              | US        |       135 | PA      | $3408.75      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Sachem Capital Corp                                       | Preferred Stock, Series A             | CUSIP: 78590A505<br>LEI: N/A | Long             | EP               | CORP              | US        |       866 | PA      | $15371.50     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BCP Investment Corp                                       | Senior Secured Note                   | CUSIP: 73688FAE2<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2755000 | PA      | $2776069.69   | 3.24%             | 2030-10-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Sachem Capital Corp                                       | Senior Unsecured Note                 | CUSIP: 78590A604<br>LEI: N/A | Long             | EP               | CORP              | US        |     33318 | PA      | $810293.76    | 0.94%             | 2026-12-30      | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| Sachem Capital Corp                                       | Senior Unsecured Note                 | CUSIP: 78590A703<br>LEI: N/A | Long             | EP               | CORP              | US        |     17446 | PA      | $403177.06    | 0.47%             | 2027-03-30      | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| Sachem Capital Corp                                       | Senior Unsecured Note                 | CUSIP: 78590A802<br>LEI: N/A | Long             | EP               | CORP              | US        |      8869 | PA      | $205867.23    | 0.24%             | 2027-06-30      | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| Sachem Capital Corp                                       | Senior Unsecured Note                 | CUSIP: 78590A877<br>LEI: N/A | Long             | EP               | CORP              | US        |      4500 | PA      | $105390.00    | 0.12%             | 2027-09-30      | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| Healthcare Trust Inc                                      | Preferred Stock                       | CUSIP: 42226B204<br>LEI: N/A | Long             | EP               | CORP              | US        |      1340 | PA      | $25687.80     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Rithm Capital Corp                                        | Preferred Stock                       | CUSIP: 64828T409<br>LEI: N/A | Long             | EP               | CORP              | US        |       148 | PA      | $3782.88      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Pasadena Private Lending, Inc.                            | Common Equity                         | CUSIP: N/A<br>LEI: N/A       | Long             | EC               | CORP              | US        |     11681 | PA      | $109129.86    | 0.13%             | 2031-12-22      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| KKR Real Estate Finance Trust Inc                         | Preferred Stock                       | CUSIP: 48251K209<br>LEI: N/A | Long             | EP               | CORP              | US        |      1423 | PA      | $25998.21     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Pasadena Private Lending, Inc.                            | Preferred Stock                       | CUSIP: N/A<br>LEI: N/A       | Long             | EP               | CORP              | US        |     11681 | PA      | $404834.14    | 0.47%             | 2031-12-22      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Broadmark Realty Capital Inc                              | Senior Unsecured Note                 | CUSIP: 11135BAA8<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2079000 | PA      | $1991435.64   | 2.32%             | 2026-11-15      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| BSD Capital Inc.                                          | Senior Unsecured                      | CUSIP: 05603CAA1<br>LEI: N/A | Long             | DBT              | CORP              | US        |     68000 | PA      | $62220.00     | 0.07%             | 2027-10-31      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Ready Capital Corp                                        | Senior Unsecured Note                 | CUSIP: 75574UAD3<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2953000 | PA      | $2776560.91   | 3.24%             | 2027-07-31      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Ready Capital Corp                                        | Senior Unsecured Note                 | CUSIP: 75574UAB7<br>LEI: N/A | Long             | DBT              | CORP              | US        |   6176000 | PA      | $4863723.52   | 5.67%             | 2028-12-30      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-02

**Name of Applicant:** EPPCF

**Signature:** Thomas P. Majewski

**Name of Signer:** Thomas P. Majewski

**Title:** Chief Executive Officer