# EDGAR Filing Document

**Accession Number:** 0001788420
**File Stem:** 0001193125-26-081869
**Filing Date:** 2026-2
**Character Count:** 111462
**Document Hash:** dbd86b7ffd7586f349b992fdcdfb9874
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-081869.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001193125-26-081869

**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:** Keystone Private Income Fund
- **CENTRAL INDEX KEY:** 0001788420

**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:** 811-23482
- **FILM NUMBER:** 26697209

**BUSINESS ADDRESS:**
- **STREET 1:** C/O UMB FUND SERVICES, INC.
- **STREET 2:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
- **BUSINESS PHONE:** 414-299-2000

**MAIL ADDRESS:**
- **STREET 1:** C/O UMB FUND SERVICES, INC.
- **STREET 2:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212

## Nport-Ex

**Keystone Private Income Fund**

**Schedule of Investments**

**December 31, 2025 (Unaudited)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| |  |  |  |  | Original | | |
| Principal |  |  |  | Maturity | Acquisition |  |  |
| Amount |  | Footnotes | Coupon Rate | Date | Date | Cost | Fair Value |
|  | **Private Credit - 106.2%** | 12 |  |  |  |  |  |
|  | **Corporate Finance - 23.6%** |  |  |  |  |  |  |
| $5943029 | BluRoc Intermediate, LLC |  | 18.00% | 1/15/2026 | 7/25/2024 | $5943029 | $5943029 |
| 51308411 | BPH Equipment, LLC |  | 12.00% | 7/3/2030 | 7/3/2025 | 51308411 | 52102150 |
| 17852622 | Car Wash Holdco, LLC |  | 15.00% | 10/1/2026 | 9/16/2024 | 17852622 | 17809693 |
| 12907904 | FVP Funding I, LLC |  | 12.00% | 2/6/2027 | 2/7/2022 | 12907904 | 12881388 |
| 24543030 | FVP Funding II, LLC |  | 12.00% | 10/12/2027 | 10/12/2022 | 24543030 | 25691088 |
| 32500000 | GAC Media, LLC |  | 12.50% | 9/8/2028 | 9/8/2025 | 32500000 | 32500000 |
| 12908101 | iApartments, Inc. | 6 | 14.50% | 12/31/2026 | 5/18/2023 | 12908101 | 13394381 |
| 18110223 | Loop Inc. | 3 | 8.00% PIK | 4/1/2027 | 5/17/2022 | 18110223 | 13261865 |
| 59790726 | MH Leasing, LLC |  | 11.38% | 7/2/2029 | 7/2/2025 | 59790726 | 60039772 |
| 118000000 | MV Cruise Offshore Holdings Ltd. |  | 12.00% | 11/22/2027 | 7/3/2024 | 118000000 | 118312701 |
| 34000000 | OP PPR Sub-Holdco 1, LLC |  | 10.00% | 2/14/2026 | 2/14/2025 | 34000000 | 34358224 |
| 24211545 | Vanderhall, Inc. | 3 | 12.00% PIK | 6/30/2026 | 8/8/2025 | 24211545 | 23519933 |
| 10000000 | Vantage Borrower SPV, LLC | 45 | 11.00% | 5/31/2024 | 3/7/2022 | 10000000 | 5865797 |
| 2600000 | Way.com, Inc. |  | 12.00% | 3/6/2026 | 3/1/2023 | 2600000 | 2600000 |
|  |  |  |  |  |  | 424675591 | 418280021 |
|  | **Equipment Leasing - 25.6%** |  |  |  |  |  |  |
| 179527 | Agility Auto Parts Inc. |  | 12.50% | 7/1/2026 | 6/12/2024 | 179527 | 179527 |
| 87006 | Agility Auto Parts Inc. |  | 12.50% | 4/1/2027 | 1/22/2025 | 87006 | 87006 |
| 3519700 | Ammo International, LLC |  | 12.50% | 11/13/2027 | 11/14/2025 | 3519700 | 3519700 |
| 231365 | Arcade Silverado JV LLC |  | 12.50% | 12/1/2026 | 4/25/2024 | 231365 | 231365 |
| 206396 | Avensis Energy Services, LLC |  | 12.50% | 9/1/2026 | 12/4/2023 | 206396 | 206396 |
| 2091483 | BluRoc - Onset |  | 12.50% | 7/1/2028 | 2/12/2025 | 2091483 | 2091483 |
| 3106292 | BluRoc Mat Financing Draw 2 |  | 17.90% | 8/5/2027 | 1/8/2025 | 2399697 | 2399697 |
| 2372098 | BluRoc Mat Financing Draw 3 |  | 17.90% | 9/5/2027 | 2/25/2025 | 2372098 | 2372098 |
| 990350 | BluRoc Mat Financing Draw 4 |  | 17.90% | 11/5/2027 | 5/5/2025 | 990350 | 990350 |
| 669953 | BluRoc Mat Financing Draw 5 |  | 17.90% | 12/5/2027 | 6/10/2025 | 669953 | 669953 |
| 2155854 | BluRoc Mat Financing Draw 6 |  | 17.90% | 1/5/2028 | 7/25/2025 | 2155854 | 2155854 |
| 5611500 | Canopy Service Partners, LLC |  | 12.30% | 5/1/2028 | 10/15/2024 | 5611500 | 5611500 |
| 8367912 | Real Good Foods, LLC |  | 12.50% | 12/1/2029 | 12/30/2025 | 8367912 | 8367912 |
| 333009 | Car Wash Holdco, LLC |  | 17.90% | 1/1/2028 | 1/29/2025 | 311693 | 311693 |
| 221140 | Car Wash Holdco, LLC |  | 17.90% | 5/1/2028 | 5/6/2025 | 209254 | 209254 |
| 665366 | Car Wash Holdco, LLC |  | 17.90% | 7/1/2028 | 7/1/2025 | 632369 | 632369 |
| 20439999 | Carnaby FA, LLC | 4 | 14.50% | 6/1/2027 | 4/26/2024 | 20439999 | 20439999 |
| 9161213 | Carnaby FA, LLC | 4 | 14.50% | 12/1/2025 | 11/27/2024 | 9161213 | 9161213 |
| 21510 | Cashman Photo Enterprises of Nevada, Inc. |  | 12.50% | 4/1/2026 | 9/5/2023 | 21510 | 21510 |
| 2368645 | Coast Aluminum, Inc. |  | 12.50% | 7/1/2027 | 4/22/2025 | 2368645 | 2368645 |
| 1134094 | Coast Aluminum, Inc. |  | 12.50% | 4/1/2028 | 6/20/2025 | 1134094 | 1134094 |
| 237000 | Don's Cold Storage and Transportation, LLC 001 |  | 12.50% | 6/30/2028 | 12/30/2025 | 237000 | 237000 |
| 1696166 | Eagle Highwall Mining Systems, LLC |  | 14.00% | 4/1/2027 | 9/29/2023 | 1696166 | 1696166 |
| 157902 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 3/1/2027 | 9/30/2024 | 157902 | 157902 |
| 1114174 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 4/1/2029 | 9/30/2024 | 1114174 | 1114174 |
| 339866 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 4/1/2027 | 9/30/2024 | 339866 | 339866 |
| 640684 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 7/1/2028 | 9/30/2024 | 640684 | 640684 |
| 900753 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 7/1/2027 | 9/30/2024 | 900753 | 900753 |
| 1241188 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 7/1/2029 | 9/24/2025 | 1241188 | 1241188 |
| 642518 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 7/1/2028 | 9/24/2025 | 642518 | 642518 |
| 1585200 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 8/1/2029 | 10/2/2025 | 1585200 | 1585200 |
| 651468 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 8/1/2028 | 10/2/2025 | 651468 | 651468 |
| 1354808 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 9/1/2029 | 11/13/2025 | 1354808 | 1354808 |
| 653285 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 9/1/2028 | 11/13/2025 | 653285 | 653285 |
| 1252715 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 9/1/2029 | 11/13/2025 | 1252715 | 1252715 |
| 686455 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 9/1/2028 | 11/13/2025 | 686455 | 686455 |
| 1302012 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 10/1/2029 | 12/4/2025 | 1302012 | 1302012 |
| 720977 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 10/1/2028 | 12/4/2025 | 720977 | 720977 |
| 529168 | EOS Fitness Opco Holdings, LLC |  | 13.00% | 10/1/2029 | 12/4/2025 | 529168 | 529168 |
| 75203 | Falls Stamping & Welding Company |  | 12.50% | 10/1/2026 | 2/5/2024 | 75203 | 75203 |
| 22786 | Feel Good Brands, LLC |  | 12.50% | 11/4/2027 | 11/5/2025 | 22786 | 22786 |
| 70717 | Feel Good Brands, LLC |  | 12.50% | 11/4/2027 | 11/5/2025 | 70717 | 70717 |
| 7410169 | Findlay Machine & Tool, LLC |  | 11.95% | 3/1/2028 | 9/24/2024 | 7148907 | 7244639 |
| 3178936 | Findlay Machine & Tool, LLC |  | 11.95% | 4/1/2028 | 10/30/2024 | 3071704 | 3071704 |
| 2367454 | Findlay Machine & Tool, LLC |  | 11.95% | 8/1/2028 | 10/30/2024 | 2306731 | 2306731 |
| 6778982 | Findlay Machine & Tool, LLC |  | 11.95% | 6/1/2028 | 12/17/2024 | 6568774 | 6720836 |
| 5294659 | Findlay Machine & Tool, LLC |  | 11.95% | 1/1/2029 | 7/2/2025 | 5167926 | 5167926 |
| 3989423 | Findlay Machine & Tool, LLC |  | 11.95% | 1/1/2029 | 7/14/2025 | 3893932 | 3893932 |
| 4081887 | Fisher & Company, Inc. |  | 14.50% | 5/1/2027 | 4/29/2024 | 4081887 | 4081887 |
| 555154 | FPL Food LLC |  | 12.50% | 4/1/2027 | 2/28/2024 | 555154 | 555154 |
| 491371 | FPL Food LLC |  | 12.50% | 4/1/2027 | 3/7/2025 | 491371 | 491371 |
| 652945 | FPL Food LLC |  | 12.50% | 1/1/2028 | 6/6/2025 | 652945 | 652945 |
| 2230705 | FPL Food LLC |  | 12.50% | 10/1/2028 | 8/8/2025 | 2230705 | 2230705 |
| 24150 | Future Legends, LLC |  | 14.50% | 10/31/2026 | 2/27/2023 | 24150 | 24150 |
| 1095323 | Gregory Pharmaceutical Holdings, Inc. |  | 14.50% | 2/1/2026 | 7/14/2023 | 1095323 | 1095323 |
| 3937221 | Information Technology Partners, Inc. |  | 14.50% | 1/1/2026 | 12/15/2023 | 3937221 | 3937221 |
| 261577 | Island Magic Catamaran Inc. |  | 12.50% | 10/1/2026 | 7/22/2024 | 261577 | 261577 |
| 411579 | Island Magic Catamaran Inc. |  | 12.50% | 7/1/2027 | 6/11/2025 | 411579 | 411579 |
| 9790528 | JRL Energy, Inc. |  | 14.50% | 10/1/2026 | 4/19/2024 | 9790528 | 9790528 |
| 2735546 | Kent Distributors, Inc. |  | 14.50% | 7/1/2027 | 3/14/2024 | 2735546 | 2735546 |
| 6473406 | Kent Distributors, Inc. |  | 12.50% | 11/1/2027 | 2/19/2025 | 6473406 | 6473406 |
| 82629 | Kinikini, LLC |  | 12.50% | 10/1/2027 | 12/13/2024 | 82629 | 82629 |
| 240280 | KVJ Properties, Inc. |  | 12.50% | 5/1/2026 | 2/25/2022 | 240280 | 240280 |
| 94127 | LBF Enterprises dba Powermatic Associates, Inc. |  | 12.50% | 7/1/2026 | 12/4/2023 | 94127 | 94127 |
| 1450335 | MC Test Service, Inc. |  | 12.00% | 7/1/2027 | 1/25/2022 | 1450335 | 1450335 |
| 1007154 | MC Test Service, Inc. |  | 12.50% | 10/1/2026 | 12/8/2023 | 1007154 | 1007154 |
| 1135233 | MC Test Service, Inc. |  | 12.50% | 7/8/2027 | 7/9/2025 | 1135233 | 1135233 |
| 5145900 | Medshift, LLC |  | 14.50% | 11/1/2027 | 4/4/2024 | 5145900 | 5145900 |
| 4843351 | Medshift, LLC |  | 14.50% | 12/1/2027 | 5/3/2024 | 4843351 | 4843351 |
| 2350679 | MIT45, Inc. |  | 12.50% | 7/9/2027 | 7/10/2025 | 2350679 | 2350679 |
| 389581 | MIT45, Inc. |  | 12.50% | 6/30/2027 | 5/23/2025 | 389581 | 389581 |
| 79267 | MIT45, Inc. A |  | 12.50% | 7/1/2027 | 6/20/2025 | 79267 | 79267 |
| 210236 | MIT45, Inc. B |  | 12.50% | 7/1/2027 | 6/20/2025 | 210236 | 210236 |
| 6008367 | NATT Tools Group Inc. |  | 13.34% | 12/1/2029 | 11/25/2024 | 6008367 | 6184144 |
| 1467372 | Navajo Health Foundation - Sage Memorial Hospital, Inc. |  | 12.50% | 1/1/2027 | 8/8/2024 | 1467372 | 1467372 |
| 13751115 | Nexseer Capital |  | 11.07% | 7/1/2030 | 7/11/2025 | 13751115 | 14065255 |
| 538403 | Next Century Rebar LLC and Century Steel Fabricators, LLC |  | 12.50% | 2/1/2027 | 6/7/2024 | 538403 | 538403 |
| 46204 | Nutritional Resources, Inc. |  | 12.50% | 1/1/2027 | 3/1/2024 | 46204 | 46204 |
| 19213 | NWC Services LLC |  | 14.50% | 11/1/2025 | 10/20/2022 | 19213 | 19213 |
| 152196099 | Onset Financial, Inc. Corporate Loan | 3 | 11.00% (3.00% PIK) | 4/10/2028 | 4/4/2025 | 152196099 | 153377674 |
| 6975216 | Onset Financial, Inc. Progress Funding Line |  | 11.00% | 4/10/2028 | 12/6/2024 | 6975216 | 7054751 |
| 366826 | Pierce Powerline Co., LLC |  | 12.50% | 1/1/2026 | 8/3/2023 | 366826 | 366826 |
| 6394871 | Prime Logistics, LLC |  | 13.00% | 9/1/2027 | 10/15/2024 | 6394871 | 6461495 |
| 998327 | Prince Signs |  | 12.50% | 10/1/2027 | 12/20/2024 | 998327 | 998327 |
| 313237 | Raw Farm, LLC |  | 12.50% | 7/1/2027 | 10/8/2024 | 313237 | 313237 |
| 295579 | Southern Fabrication Works, LLC |  | 12.50% | 3/1/2026 | 8/16/2023 | 295579 | 295579 |
| 19626220 | Tenere, Inc. |  | 13.50% | 9/17/2029 | 9/17/2025 | 19626220 | 19626220 |
| 97271 | Transcontinental Energy Services LLC |  | 12.50% | 1/1/2026 | 11/27/2023 | 97271 | 97271 |
| 1360465 | Transcontinental Energy Services LLC |  | 12.50% | 10/1/2027 | 4/16/2025 | 1360465 | 1360465 |
| 525000 | Transcontinental Energy Services LLC |  | 12.50% | 12/31/2027 | 12/30/2025 | 525000 | 525000 |
| 6636824 | Transportation Financial, LLC |  | 12.50% | 9/1/2027 | 8/20/2024 | 6636824 | 6636824 |
| 13836166 | Trico Products Corporation | 4 | 12.50% | 12/1/2027 | 6/30/2022 | 13836166 | 13836166 |
| 1460796 | Trico Products Corporation | 4 | 14.50% | 12/1/2025 | 5/5/2023 | 1460796 | 1460796 |
| 227833 | Trico Products Corporation | 4 | 12.50% | 3/1/2026 | 7/3/2023 | 227833 | 227833 |
| 2490909 | Trico Products Corporation | 4 | 14.50% | 9/1/2026 | 2/29/2024 | 2490909 | 2490909 |
| 5360852 | United Auto Supply of Syracuse, West, Inc. |  | 12.00% | 8/1/2026 | 6/30/2022 | 5360852 | 5360852 |
| 4476144 | United Auto Supply of Syracuse, West, Inc. |  | 12.00% | 1/1/2027 | 6/30/2022 | 4476144 | 4476144 |
| 2269000 | Value Truck of AZ, LLC |  | 12.50% | 12/31/2027 | 12/18/2025 | 2269000 | 2269000 |
| 109206 | Vensure Employer Services, Inc. |  | 14.50% | 9/1/2027 | 8/2/2022 | 109206 | 109206 |
| 483368 | Vensure Employer Services, Inc. |  | 14.50% | 9/1/2027 | 11/3/2022 | 483368 | 483368 |
| 945525 | Vensure Employer Services, Inc. |  | 14.50% | 3/1/2028 | 1/24/2023 | 945525 | 945525 |
| 1113813 | Vensure Employer Services, Inc. |  | 14.50% | 2/1/2026 | 5/5/2023 | 1113813 | 1113813 |
| 1937357 | Vensure Employer Services, Inc. |  | 14.50% | 4/1/2026 | 9/19/2023 | 1937357 | 1937357 |
| 331518 | Vensure Employer Services, Inc. |  | 14.50% | 2/1/2026 | 1/18/2024 | 331518 | 331518 |
| 999105 | Vensure Employer Services, Inc. |  | 12.50% | 8/1/2026 | 5/8/2024 | 999105 | 999105 |
| 509315 | Vensure Employer Services, Inc. |  | 12.50% | 4/1/2026 | 8/9/2024 | 509315 | 509315 |
| 1014196 | Vensure Employer Services, Inc. |  | 14.50% | 5/1/2026 | 9/17/2024 | 1014196 | 1014196 |
| 3729557 | Vensure Employer Services, Inc. |  | 14.50% | 5/1/2027 | 10/25/2024 | 3729557 | 3729557 |
| 3941071 | Vensure Employer Services, Inc. |  | 14.50% | 6/1/2027 | 12/6/2024 | 3941071 | 3941071 |
| 5223823 | Vensure Employer Services, Inc. |  | 14.50% | 11/1/2027 | 3/11/2025 | 5223823 | 5223823 |
| 4559848 | Vensure Employer Services, Inc. |  | 14.50% | 12/1/2027 | 5/12/2025 | 4559848 | 4559848 |
| 4755262 | Vensure Employer Services, Inc. |  | 14.50% | 1/1/2028 | 6/23/2025 | 4755262 | 4755262 |
| 4684893 | Vensure Employer Services, Inc. |  | 14.50% | 1/24/2028 | 7/24/2025 | 4684893 | 4684893 |
| 4368422 | Vensure Employer Services, Inc. |  | 14.50% | 2/29/2028 | 8/29/2025 | 4368422 | 4368422 |
| 169070 | Vensure Employer Services, Inc. |  | 14.50% | 10/31/2027 | 10/6/2025 | 169070 | 169070 |
| 1199153 | Voltron Global, LLC |  | 12.50% | 7/29/2027 | 7/30/2025 | 1199153 | 1199153 |
| 68967 | Washington Liftruck Inc. |  | 12.50% | 1/1/2027 | 11/8/2024 | 68967 | 68967 |
| 3444152 | West Liberty Foods |  | 14.50% | 2/1/2027 | 8/5/2024 | 3444152 | 3444152 |
| 4512231 | West Liberty Foods |  | 14.50% | 6/1/2027 | 11/25/2024 | 4512231 | 4512231 |
|  |  |  |  |  |  | 452802962 | 454868407 |
|  | **Financial Assets - 26.7%** |  |  |  |  |  |  |
| 81479112 | BizFund LLC | 6 | 11.85% (SOFR + 7.50%) | 12/30/2027 | 12/30/2024 | 81479112 | 81479112 |
| 54100000 | Bondit LLC |  | 13.00% | 5/31/2027 | 6/3/2024 | 54100000 | 54325620 |
| 9311890 | CapitalPlus Construction Services, LLC | 4 | 12.00% | 10/1/2023 | 9/2/2020 | 9311890 |  |
| 2469892 | CapitalPlus Supply Chain Partners, LLC | 4 | 12.00% | 7/31/2024 | 8/31/2021 | 2469892 |  |
| 37022056 | Cocolalla, LLC |  | 14.00% | 3/27/2026 | 3/16/2023 | 37022056 | 37293047 |
| 329371 | Dallas Growth Capital and Funding, LLC | 4 | 13.00% | 2/23/2024 | 2/24/2021 | 329371 |  |
| 25000000 | Fox Funding Management, Inc. |  | 12.00% | 9/30/2028 | 9/30/2025 | 25000000 | 25000000 |
| 27240000 | Kensington Private Equity Fund | 56 | 13.80% (SOFR + 9.50%) | 3/28/2026 | 3/28/2023 | 27240000 | 27286480 |
| 27156400 | Leyline Renewable Capital, LLC |  | 13.00% | 5/25/2027 | 5/26/2023 | 27156400 | 27156400 |
| 64288878 | Lienstar LLC |  | 13.00% | 12/31/2026 | 3/13/2023 | 64288878 | 65500394 |
| 46963455 | Met SPV Holdings, LLC - Series Sutton |  | 13.00% | 6/1/2027 | 8/1/2025 | 46963455 | 47356486 |
| 18325294 | Metropolitan Partners Fund VIII, LP - Axiom |  | 12.50% | 8/1/2028 | 12/5/2025 | 18325294 | 18325294 |
| 30000000 | Metropolitan Partners Fund VIII, LP - EPM |  | 12.50% | 2/10/2027 | 7/11/2025 | 30000000 | 30098969 |
| 5691661 | Propel Holdings, Inc. |  | 13.60% | 3/31/2030 | 6/8/2023 | 5691661 | 5858544 |
| 13036802 | Simply Funding SPV, LLC |  | 13.00% | 10/7/2027 | 6/23/2021 | 12828414 | 13037434 |
| 20119857 | SP Technologies, LLC | 6 | 11.85% (SOFR + 7.50%) | 5/28/2028 | 5/29/2025 | 20119857 | 20119857 |
| 19806218 | Unique Funding Solutions, LLC |  | 13.50% | 2/5/2028 | 2/5/2025 | 19806218 | 20088918 |
|  |  |  |  |  |  | 482132498 | 472926555 |
|  | **Specialty Real Estate Finance - 30.3%** |  |  |  |  |  |  |
| 15877475 | 750 Main Street LP |  | 11.05% | 7/3/2026 | 5/9/2022 | 15877475 | 16174640 |
| 22391564 | 8th Avenue Property Owners, LLC | 6 | 11.00% (Prime + 3.50%) | 5/15/2026 | 8/14/2023 | 22391564 | 22557098 |
| 11478824 | Apple Valley BV Road, LLC |  | 11.00% | 3/23/2026 | 12/23/2024 | 11478824 | 11750544 |
| 24507798 | Ashton Oak Homes (Black Locust), LLC | 6 | 10.50% (Prime + 3.00%) | 3/23/2026 | 3/23/2023 | 24507798 | 24810626 |
| 13095055 | Atomic Orchard Experiment, LLC | 4 | 10.75% | 10/31/2025 | 11/10/2022 | 13095055 | 12068060 |
| 3402231 | BD RC Jacksonville Normandy, LP | 6 | 10.50% (Prime + 3.00%) | 3/18/2026 | 9/28/2023 | 3402231 | 3402231 |
| 12733243 | BEP CO Springs Hospitality LLC |  | 11.95% | 2/24/2026 | 8/24/2023 | 12733243 | 12733243 |
| 15834674 | Capital Miller Pref NewCo, LLC |  | 14.00% | 12/5/2027 | 12/5/2022 | 15834674 | 16272983 |
| 7980265 | Corta Stevens Point, LLC |  | 13.00% | 12/1/2025 | 4/13/2023 | 7980265 | 7980265 |
| 23932766 | Dabney Road Industrial LLC |  | 10.50% | 10/20/2026 | 12/20/2023 | 23932766 | 24066630 |
| 37054630 | DZ Tech Community LLC |  | 10.50% | 4/25/2026 | 8/31/2023 | 37054630 | 37486087 |
| 1763529 | Galaxy Management Company, LLC | 45 | 14.00% | 11/10/2023 | 11/18/2020 | 1763529 | 1763529 |
| 17927242 | HSM Hawley, LLC |  | 10.50% | 4/5/2026 | 1/10/2024 | 17927242 | 18340882 |
| 8863323 | JDI Pasadena Logistics Center SPE, LLC |  | 11.15% | 8/28/2026 | 8/30/2024 | 8863323 | 9069339 |
| 12416 | JF Wonderblock Phase 2, LLC |  | 10.99% | 2/20/2028 | 12/20/2023 | 12416 | 12416 |
| 23303349 | MC Oslo Aurora, LLC | 4 | 13.25% | 7/11/2025 | 7/11/2022 | 23303349 | 18311111 |
| 22076672 | MC Oslo Hermitage, LLC | 4 | 13.00% | 11/7/2024 | 5/19/2022 | 22076672 | 21328125 |
| 12922297 | MC Oslo SFM Two, LLC | 4 | 13.00% | 7/11/2025 | 5/19/2022 | 12922297 | 11465743 |
| 8980563 | MC Oslo SFQ, LLC | 4 | 13.25% | 7/11/2025 | 7/11/2022 | 8980563 | 4753164 |
| 5732411 | MC Rye Katy, LLC | 4 | 13.25% | 8/9/2025 | 8/10/2022 | 5732411 | 3748422 |
| 10790399 | MC Rye Northwest, LLC | 4 | 13.25% | 8/9/2025 | 8/9/2022 | 10790399 | 10749134 |
| 12909719 | MC Rye Westchase, LLC | 4 | 13.25% | 8/9/2025 | 8/9/2022 | 12909719 | 11734471 |
| 8082295 | Merced Security Storage, LLC |  | 10.50% | 5/6/2026 | 5/6/2024 | 8082295 | 8194840 |
| 10695113 | Nancy Jay Industrial Center, LLC |  | 12.95% | 5/31/2027 | 6/3/2022 | 10695113 | 11272170 |
| 5700000 | Olympus Bluffs 4, LLC |  | 11.95% | 9/9/2026 | 9/9/2022 | 5700000 | 5700000 |
| 6015981 | Olympus Oaks 1, LLC |  | 12.50% | 7/14/2026 | 7/13/2023 | 6015981 | 6015981 |
| 6640000 | Olympus Oaks 2, LLC |  | 12.50% | 7/14/2026 | 7/13/2023 | 6640000 | 6640000 |
| 6247656 | Olympus Oaks 4, LLC |  | 12.50% | 7/13/2026 | 7/13/2023 | 6247656 | 6247656 |
| 6543796 | Olympus Oaks 5, LLC |  | 12.50% | 7/14/2026 | 7/13/2023 | 6543796 | 6543796 |
| 5398000 | Olympus Oaks 6, LLC |  | 12.50% | 2/16/2027 | 2/16/2024 | 5398000 | 5398000 |
| 5463397 | Olympus Oaks 7, LLC |  | 12.50% | 2/16/2027 | 2/16/2024 | 5463397 | 5463397 |
| 3694104 | Olympus Oaks 8, LLC |  | 12.50% | 2/16/2027 | 2/16/2024 | 3694104 | 3694104 |
| 4300594 | Olympus Oaks 9, LLC |  | 12.50% | 2/16/2027 | 2/16/2024 | 4300594 | 4300594 |
| 5235134 | Olympus Palms 1, LLC |  | 12.50% | 7/2/2027 | 7/1/2022 | 5235134 | 5235134 |
| 5132000 | Olympus Palms 2, LLC |  | 12.50% | 7/2/2027 | 7/2/2024 | 5132000 | 5132000 |
| 5937454 | Olympus Palms 3, LLC |  | 11.95% | 7/2/2027 | 8/3/2022 | 5937454 | 5937454 |
| 5066886 | Olympus Palms 4, LLC |  | 14.00% | 5/4/2026 | 10/4/2022 | 5066886 | 5066886 |
| 5560000 | Olympus Palms 7, LLC |  | 12.50% | 7/2/2027 | 7/4/2024 | 5560000 | 5560000 |
| 599447 | Pierce Street Holdings LLC | 4 | 10.50% | 11/25/2025 | 3/15/2022 | 599447 | 599447 |
| 14487278 | Renton Hotel Holdings, LLC |  | 12.00% | 8/31/2026 | 5/24/2024 | 14487278 | 14532277 |
| 10979345 | Richland LA Hotel Holdings, LLC |  | 12.00% | 3/31/2026 | 8/31/2023 | 10979345 | 10977168 |
| 5710124 | Romeria Pointe, LLC |  | 11.09% | 3/4/2026 | 3/4/2024 | 5710124 | 5710124 |
| 12266263 | Roseville Senior Affordable 2 LP |  | 11.25% | 11/30/2026 | 11/26/2024 | 12266263 | 12585191 |
| 9427541 | Scarborough Hotel Holdings, LLC |  | 12.00% | 9/30/2026 | 6/24/2024 | 9427541 | 9594393 |
| 10294906 | Syracuse Hotel Holdings, LLC |  | 12.00% | 5/31/2026 | 2/2/2024 | 10294906 | 10385132 |
| 481718 | Turner Rock Apartments, LLC |  | 10.85% | 4/15/2028 | 4/18/2025 | 481718 | 481718 |
| 16270323 | VG Pines Residential, LLC |  | 11.15% | 9/1/2026 | 3/1/2024 | 16270323 | 16880948 |
| 43842694 | Vivo Portfolio |  | 11.49% | 2/28/2026 | 12/15/2023 | 43842694 | 43842694 |
| 8968315 | WB Commerce 100, LLC |  | 9.99% | 10/23/2027 | 10/23/2025 | 8968315 | 8968315 |
| 6394466 | West Creek II, LLC |  | 10.00% | 7/8/2026 | 7/8/2025 | 6394466 | 6394466 |
|  |  |  |  |  |  | 549005275 | 537932628 |
|  | **Total Private Credit** |  |  |  |  | **1908616326** | **1884007611** |
|  | **REO Properties - 1.6%** | 12 |  |  |  |  |  |
| 17468700 | Vivo Living Durham LLC |  | 9.50% | 10/14/2024 | 10/14/2022 | 17468700 | 14233259 |
| 15090728 | Vivo Living Raleigh 1 LLC |  | 9.50% | 11/18/2024 | 11/18/2022 | 15090728 | 14363839 |
|  | **Total REO Properties** |  |  |  |  | **32559428** | **28597098** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Shares |  |  | Investment Type |  |  |
|  | **Private Companies - 0.3%** | 12.0 |  |  |  |
| 22209 | TNP HC 3, LLC |  | Common Units | 12354762 | 4876813 |
|  | **Total Private Companies** |  |  | **12354762** | **4876813** |
|  | **Warrants - 0.0%** | 12.0 |  |  |  |
| 73274 | Sovrn Holdings, Inc | 7.0 |  | - | - |
|  | **Total Investments - 108.1%** | 8.0 |  | $**1953530516** | $**1917481522** |
|  | Liabilities in excess of other assets - (8.1%) |  |  |  | (143490105) |
|  | **Net Assets - 100%** |  |  |  | $**1773991417** |

---

REO - Real Estate Owned

SOFR - Secured Overnight Financing Rate

---

| | |
|:---|:---|
| 1 | Restricted securities. The total value of these securities is $1,917,481,522, which represents 108.1% of total net assets of the Fund. |

---

---

| | |
|:---|:---|
| 2 | Level 3 securities fair valued under procedures established by the board of trustees of the Fund. The total value of these securities is $1,917,481,522, which represents 108.1% of total net assets of the Fund. |

---

3 Principal includes accumulated payment in kind ("PIK") interest and is net of repayments, if any.

4 In default.

5 This investment was made through a participation. See notes to financial statements.

6 Variable rate.

---

| | |
|:---|:---|
| 7 | The single purpose investment fund's strategy is to invest in only one isolated and preidentified secured credit investment with no discretion for any other additional investments beyond this single purpose holding for which the single purpose investment fund was formed. The single purpose investment fund shall continue until the one holding is realized in full. Given the single purpose nature of the investment holding, there is no redemption of any portion of the Fund's investment prior to the realization in full of the underlying single investment. |

---

8 Entire portfolio is pledged as collateral for line of credit.

See accompanying notes to schedule of investments.

**Keystone Private Income Fund** 

------

**Notes to Schedule of Investments**

**December 31, 2025 (Unaudited)**

**Note 1 - Valuation of Investments**

The Fund's Board of Trustees (the "Board") has approved valuation procedures for the Fund (the "Valuation Procedures"). Under the Valuation Procedures adopted by the Board has delegated day-to-day responsibility for the fair value determinations and pricing of the Fund's investments to the Investment Manager (the "Valuation Designee"), subject to the oversight of the Board. The Valuation Designee oversees the valuation of the Fund's investments on behalf of the Fund in accordance with the Valuation Procedures, which provide that investments will be valued at fair value. Furthermore, the valuation of the Fund's assets will be done in accordance with the FASB ASC Topic 820, *Fair Value Measurements and Disclosures.*

 

In general, fair value represents a good faith approximation of the current value of an asset and is used when there is no public market or possibly no market at all for the asset. As a result, the fair values of one or more assets may not be the prices at which those assets are ultimately sold. Prospective investors should be aware that situations involving uncertainties as to the value of investments could have an adverse effect on the Fund's net asset value ("NAV") if the judgments of the Valuation Designee regarding appropriate valuations should prove incorrect.

The Fund holds a high proportion of illiquid investments relative to its total investments, which is directly related to the Fund's investment objectives and strategy. The valuation approach will likely vary by investment, but may include comparable public market valuations, comparable transaction valuations and discounted cash flow analyses. All factors that might materially impact the value of an investment (i.e., underlying collateral, operating results, financial condition, achievement of milestones, and economic and/or market events) may be considered. In certain circumstances the Valuation Designee may determine that cost best approximates the fair value of the particular investment.

**Note 2 – Fair Value Measurements and Disclosure**

The Fund uses a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Valuations based on unadjusted quoted prices in active markets that are accessible at
the measurement date for identical, unrestricted assets or liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Valuations based on inputs, other than quoted prices included in Level 1, that are observable
either directly or indirectly.

&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Valuations based on inputs that are both significant and unobservable to the overall fair
value measurement.

The availability of valuation techniques and observable inputs can vary from investment to investment and are affected by a wide variety of factors, including type of investment, whether the investment is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, determining fair value requires more judgment. Because of the inherent uncertainly of valuation, estimated values may be materially higher or lower than the values that would have been used had a ready market for the investments existed. Accordingly, the degree of judgment exercised by the Investment Manager in determining fair value is greatest for investments categorized in Level 3.

The Fund's assets recorded at fair value have been categorized based on a fair value hierarchy as described in the Fund's significant accounting policies. The following table presents information about the Fund's assets and liabilities measured at fair value as of December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;Private Credit | $— | $— | $1884007611 | $1884007611 |
| &nbsp;&nbsp;&nbsp;REO Properties |  |  | 28597098 | 28597098 |
| &nbsp;&nbsp;&nbsp;Private Companies |  |  | 4876813 | 4876813 |
| &nbsp;&nbsp;&nbsp;Warrants |  |  |  |  |
| Total Investments, at fair value | $**-** | $**—** | $**1917481522** | $**1917481522** |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Keystone Private Income Fund

- **b. Investment Company Act file number:** 811-23482

- **c. CIK number of Registrant:** 0001788420

- **d. LEI of Registrant:** 549300HJV77VB5O4X277

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

  - **Street Address 1:** c/o UMB Fund Services, Inc.

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53212

  - **Telephone number:** 4142992270

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

- **a. Name of Series:** Keystone Private Income Fund

- **c. LEI of Series:** 549300HJV77VB5O4X277

**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:** $1975750870.51

**Total Liabilities:** $201759453.98

**Net Assets:** $1773991416.53

**Cash Not Reported:** $35348650.44

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.71%                | 0.62%                | 0.64%                |
| Class ID N/A | 0.72%                | 0.63%                | 0.65%                |
| Class ID N/A | 0.78%                | 0.70%                | 0.71%                |
| Class ID N/A | 0.77%                | 0.69%                | 0.70%                |
| Class ID N/A | 0.79%                | 0.71%                | 0.72%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1093587.00              | $-1315063.00                               |
| Month 2  | $0.00                    | $-512985.00                                |
| Month 3  | $0.00                    | $-1123423.00                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Vivo Living Raleigh 1 LLC                                    | Vivo Living Raleigh 1 LLC                                    | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  14363839 | PA      | $14363839.29  | 0.81%             | 2024-11-18      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| Vivo Living Durham LLC                                       | Vivo Living Durham LLC                                       | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  14233259 | PA      | $14233258.92  | 0.80%             | 2024-10-14      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| VG Pines Residential LLC                                     | VG Pines Residential LLC                                     | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  16880948 | PA      | $16880947.55  | 0.95%             | 2026-09-01      | Fixed         | 11.15%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 028                          | Vensure Employer Services, Inc. 028                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    169070 | PA      | $169070.20    | 0.01%             | 2027-10-31      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 023                          | Vensure Employer Services, Inc. 023                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   4559848 | PA      | $4559847.76   | 0.26%             | 2027-12-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 022                          | Vensure Employer Services, Inc. 022                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5223823 | PA      | $5223822.74   | 0.29%             | 2027-11-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 018                          | Vensure Employer Services, Inc. 018                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   3941071 | PA      | $3941070.79   | 0.22%             | 2027-06-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 017                          | Vensure Employer Services, Inc. 017                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   3729557 | PA      | $3729557.44   | 0.21%             | 2027-05-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 016                          | Vensure Employer Services, Inc. 016                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1014196 | PA      | $1014196.48   | 0.06%             | 2026-05-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 015                          | Vensure Employer Services, Inc. 015                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    509315 | PA      | $509315.20    | 0.03%             | 2026-04-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 014                          | Vensure Employer Services, Inc. 014                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    999105 | PA      | $999105.38    | 0.06%             | 2026-08-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 013                          | Vensure Employer Services, Inc. 013                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    331518 | PA      | $331517.94    | 0.02%             | 2026-02-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Trico Products Corporation 022                               | Trico Products Corporation 022                               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  13836166 | PA      | $13836165.54  | 0.78%             | 2027-12-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Trico Products Corporation 027                               | Trico Products Corporation 027                               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    227833 | PA      | $227833.17    | 0.01%             | 2026-03-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Trico Products Corporation 023                               | Trico Products Corporation 023                               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1460796 | PA      | $1460796.47   | 0.08%             | 2025-12-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| United Auto Supply of Syracuse, West, Inc. 001               | United Auto Supply of Syracuse, West, Inc. 001               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5360852 | PA      | $5360852.01   | 0.30%             | 2026-08-01      | Fixed         | 12.00%                | Yes           |                  3 | On Loan: No      |
| Unique Funding Solutions, LLC                                | Unique Funding Solutions, LLC                                | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  20088918 | PA      | $20088917.67  | 1.13%             | 2028-02-05      | Fixed         | 13.50%                | Yes           |                  3 | On Loan: No      |
| Turner Rock Apartments, LLC                                  | Turner Rock Apartments, LLC                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    481718 | PA      | $481718.45    | 0.03%             | 2028-04-15      | Fixed         | 10.85%                | Yes           |                  3 | On Loan: No      |
| Trico Products Corporation 031                               | Trico Products Corporation 031                               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2490909 | PA      | $2490908.70   | 0.14%             | 2026-09-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 007                          | Vensure Employer Services, Inc. 007                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    483368 | PA      | $483368.11    | 0.03%             | 2027-09-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 006                          | Vensure Employer Services, Inc. 006                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    109206 | PA      | $109205.92    | 0.01%             | 2027-09-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Vanderhall, Inc.                                             | Vanderhall, Inc.                                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  23519933 | PA      | $23519932.59  | 1.33%             | 2025-10-15      | Fixed         | 12.00%                | Yes           |                  3 | On Loan: No      |
| Value Truck of AZ, LLC 005                                   | Value Truck of AZ, LLC 005                                   | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2269000 | PA      | $2269000.00   | 0.13%             | 2027-12-31      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| United Auto Supply of Syracuse, West, Inc. 002               | United Auto Supply of Syracuse, West, Inc. 002               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   4476144 | PA      | $4476143.62   | 0.25%             | 2027-01-01      | Fixed         | 12.00%                | Yes           |                  3 | On Loan: No      |
| Transportation Financial, LLC 001                            | Transportation Financial, LLC 001                            | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   6636824 | PA      | $6636824.47   | 0.37%             | 2027-09-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Transcontinental Energy Services, LLC 004                    | Transcontinental Energy Services, LLC 004                    | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    525000 | PA      | $525000.00    | 0.03%             | 2027-12-31      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Transcontinental Energy Services, LLC 003                    | Transcontinental Energy Services, LLC 003                    | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1360465 | PA      | $1360464.93   | 0.08%             | 2027-10-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Transcontinental Energy Services LLC                         | Transcontinental Energy Services LLC                         | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |     97271 | PA      | $97271.10     | 0.01%             | 2026-01-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Tenere, Inc. 007                                             | Tenere, Inc. 007                                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  19626220 | PA      | $19626220.37  | 1.11%             | 2029-09-17      | Fixed         | 13.50%                | Yes           |                  3 | On Loan: No      |
| Syracuse Hotel Holdings, LLC                                 | Syracuse Hotel Holdings, LLC                                 | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  10385132 | PA      | $10385132.05  | 0.59%             | 2026-05-31      | Fixed         | 12.00%                | Yes           |                  3 | On Loan: No      |
| SP Technologies, LLC                                         | SP Technologies, LLC                                         | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  20119857 | PA      | $20119856.99  | 1.13%             | 2028-05-28      | Fixed         | 11.85%                | Yes           |                  3 | On Loan: No      |
| Southern Fabrication Works, LLC                              | Southern Fabrication Works, LLC                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    295579 | PA      | $295578.69    | 0.02%             | 2026-03-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Simply Funding SPV, LLC                                      | Simply Funding SPV, LLC                                      | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  13245822 | PA      | $13245822.27  | 0.75%             | 2027-10-07      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| Scarborough Hotel Holdings, LLC                              | Scarborough Hotel Holdings, LLC                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   9594393 | PA      | $9594392.95   | 0.54%             | 2026-09-30      | Fixed         | 12.00%                | Yes           |                  3 | On Loan: No      |
| Roseville Senior Affordable 2 LP                             | Roseville Senior Affordable 2 LP                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  12585191 | PA      | $12585191.12  | 0.71%             | 2026-11-30      | Fixed         | 11.25%                | Yes           |                  3 | On Loan: No      |
| Romeria Pointe, LLC                                          | Romeria Pointe, LLC                                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5710124 | PA      | $5710123.77   | 0.32%             | 2026-03-04      | Fixed         | 11.09%                | Yes           |                  3 | On Loan: No      |
| Richland LA Hotel Holdings, LLC                              | Richland LA Hotel Holdings, LLC                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  10977168 | PA      | $10977167.94  | 0.62%             | 2026-03-31      | Fixed         | 12.00%                | Yes           |                  3 | On Loan: No      |
| Renton Hotel Holdings, LLC                                   | Renton Hotel Holdings, LLC                                   | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  14532277 | PA      | $14532276.52  | 0.82%             | 2026-08-31      | Fixed         | 12.00%                | Yes           |                  3 | On Loan: No      |
| Raw Farm, LLC 002                                            | Raw Farm, LLC 002                                            | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    313237 | PA      | $313236.84    | 0.02%             | 2027-07-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Propel Holdings, Inc.                                        | Propel Holdings, Inc.                                        | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5858544 | PA      | $5858543.51   | 0.33%             | 2030-03-31      | Fixed         | 13.60%                | Yes           |                  3 | On Loan: No      |
| West Creek II, LLC                                           | West Creek II, LLC                                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   6394466 | PA      | $6394466.22   | 0.36%             | 2026-07-08      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| WB Commerce 100, LLC                                         | WB Commerce 100, LLC                                         | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   8968315 | PA      | $8968314.60   | 0.51%             | 2027-10-23      | Fixed         | 9.99%                 | Yes           |                  3 | On Loan: No      |
| Way.com, Inc.                                                | Way.com, Inc.                                                | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2600000.00   | 0.15%             | 2026-03-06      | Fixed         | 12.00%                | Yes           |                  3 | On Loan: No      |
| Kinikini, LLC 002                                            | Kinikini, LLC 002                                            | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |     82629 | PA      | $82629.41     | 0.00%             | 2027-10-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Kent Distributors, Inc. 013                                  | Kent Distributors, Inc. 013                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   6473406 | PA      | $6473405.52   | 0.36%             | 2027-11-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Kent Distributors, Inc. 012                                  | Kent Distributors, Inc. 012                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2735546 | PA      | $2735546.26   | 0.15%             | 2027-07-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Kensington Private Equity Fund                               | Kensington Private Equity Fund                               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  27286480 | PA      | $27286479.69  | 1.54%             | 2026-03-28      | Fixed         | 13.80%                | Yes           |                  3 | On Loan: No      |
| FPL Food LLC 005                                             | FPL Food LLC 005                                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    652945 | PA      | $652944.80    | 0.04%             | 2028-01-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| FPL Food LLC 004                                             | FPL Food LLC 004                                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    491371 | PA      | $491370.57    | 0.03%             | 2027-04-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| FPL Food LLC 003                                             | FPL Food LLC 003                                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    555154 | PA      | $555153.71    | 0.03%             | 2027-04-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Fox Funding Management, Inc.                                 | Fox Funding Management, Inc.                                 | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  25000000 | PA      | $25000000.00  | 1.41%             | 2028-09-30      | Fixed         | 12.00%                | Yes           |                  3 | On Loan: No      |
| Fisher & Company, Inc.                                       | Fisher & Company, Inc.                                       | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   4081887 | PA      | $4081887.05   | 0.23%             | 2027-05-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| First National Capital, LLC 01                               | First National Capital, LLC 01                               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   8367912 | PA      | $8367912.22   | 0.47%             | 2029-12-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| First National Capital, LLC                                  | First National Capital, LLC                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5611500 | PA      | $5611500.17   | 0.32%             | 2028-05-01      | Fixed         | 12.30%                | Yes           |                  3 | On Loan: No      |
| Findlay Machine & Tool, LLC 006                              | Findlay Machine & Tool, LLC 006                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   3989423 | PA      | $3989422.65   | 0.22%             | 2029-01-01      | Fixed         | 11.95%                | Yes           |                  3 | On Loan: No      |
| Findlay Machine & Tool, LLC 005                              | Findlay Machine & Tool, LLC 005                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5294659 | PA      | $5294658.96   | 0.30%             | 2029-01-01      | Fixed         | 11.95%                | Yes           |                  3 | On Loan: No      |
| Findlay Machine & Tool, LLC 004                              | Findlay Machine & Tool, LLC 004                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   6931044 | PA      | $6931044.13   | 0.39%             | 2028-06-01      | Fixed         | 11.95%                | Yes           |                  3 | On Loan: No      |
| Findlay Machine & Tool, LLC 003                              | Findlay Machine & Tool, LLC 003                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2367454 | PA      | $2367454.19   | 0.13%             | 2028-08-01      | Fixed         | 11.95%                | Yes           |                  3 | On Loan: No      |
| Findlay Machine & Tool, LLC 002                              | Findlay Machine & Tool, LLC 002                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   3178936 | PA      | $3178935.53   | 0.18%             | 2028-04-01      | Fixed         | 11.95%                | Yes           |                  3 | On Loan: No      |
| DZ Tech Community 1 LLC                                      | DZ Tech Community 1 LLC                                      | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  37486087 | PA      | $37486086.87  | 2.11%             | 2026-04-25      | Fixed         | 10.50%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 010                           | EOS Fitness Opco Holdings, LLC 010                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    157902 | PA      | $157902.28    | 0.01%             | 2027-03-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| Eagle Highwall Mining Systems, LLC                           | Eagle Highwall Mining Systems, LLC                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1696166 | PA      | $1696165.51   | 0.10%             | 2027-04-01      | Fixed         | 14.00%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 027                           | EOS Fitness Opco Holdings, LLC 027                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    900753 | PA      | $900752.53    | 0.05%             | 2027-07-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 026                           | EOS Fitness Opco Holdings, LLC 026                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    640684 | PA      | $640683.88    | 0.04%             | 2028-07-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 019                           | EOS Fitness Opco Holdings, LLC 019                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    339866 | PA      | $339865.70    | 0.02%             | 2027-04-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 018                           | EOS Fitness Opco Holdings, LLC 018                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1114174 | PA      | $1114173.52   | 0.06%             | 2029-04-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| Don's Cold Storage and Transportation, LLC 001               | Don's Cold Storage and Transportation, LLC 001               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    237000 | PA      | $237000.00    | 0.01%             | 2028-06-30      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Dabney Road Industrial LLC                                   | Dabney Road Industrial LLC                                   | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  24066630 | PA      | $24066630.06  | 1.36%             | 2026-10-20      | Fixed         | 10.50%                | Yes           |                  3 | On Loan: No      |
| Corta Stevens Point, LLC                                     | Corta Stevens Point, LLC                                     | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   7980265 | PA      | $7980264.80   | 0.45%             | 2025-12-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| Cocolalla, LLC                                               | Cocolalla, LLC                                               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  37293047 | PA      | $37293047.34  | 2.10%             | 2026-03-27      | Fixed         | 14.00%                | Yes           |                  3 | On Loan: No      |
| Onset Financial, Inc. - Corporate Loan                       | Onset Financial, Inc. - Corporate Loan                       | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        | 153377674 | PA      | $153377673.80 | 8.65%             | 2028-04-10      | Fixed         | 11.00%                | Yes           |                  3 | On Loan: No      |
| Olympus Palms 7, LLC                                         | Olympus Palms 7, LLC                                         | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5560000 | PA      | $5560000.00   | 0.31%             | 2027-07-02      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Olympus Palms 4, LLC                                         | Olympus Palms 4, LLC                                         | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5066886 | PA      | $5066886.02   | 0.29%             | 2026-05-04      | Fixed         | 14.00%                | Yes           |                  3 | On Loan: No      |
| Pierce Powerline Co. LLC 003                                 | Pierce Powerline Co. LLC 003                                 | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    366826 | PA      | $366825.63    | 0.02%             | 2026-01-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Apple Valley BV Road, LLC                                    | Apple Valley BV Road, LLC                                    | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  11750544 | PA      | $11750544.00  | 0.66%             | 2026-03-23      | Fixed         | 11.00%                | Yes           |                  3 | On Loan: No      |
| Ammo International, LLC 001                                  | Ammo International, LLC 001                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   3519700 | PA      | $3519700.00   | 0.20%             | 2027-11-13      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Agility Auto Parts Inc. 002                                  | Agility Auto Parts Inc. 002                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |     87006 | PA      | $87005.75     | 0.00%             | 2027-04-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Agility Auto Parts Inc. 001                                  | Agility Auto Parts Inc. 001                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    179527 | PA      | $179527.41    | 0.01%             | 2026-07-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Vivo Portfolio                                               | Vivo Portfolio                                               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  43842694 | PA      | $43842693.99  | 2.47%             | 2026-02-28      | Fixed         | 11.49%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 024                          | Vensure Employer Services, Inc. 024                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   4755262 | PA      | $4755262.16   | 0.27%             | 2028-01-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 027                          | Vensure Employer Services, Inc. 027                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   4368422 | PA      | $4368421.82   | 0.25%             | 2028-02-29      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 025                          | Vensure Employer Services, Inc. 025                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   4684893 | PA      | $4684892.89   | 0.26%             | 2028-01-24      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Prince Signs 002                                             | Prince Signs 002                                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    998327 | PA      | $998326.89    | 0.06%             | 2027-10-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Wingspire Equipment Finance, LLC                             | Wingspire Equipment Finance, LLC                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   6184144 | PA      | $6184143.80   | 0.35%             | 2029-12-01      | Fixed         | 13.34%                | Yes           |                  3 | On Loan: No      |
| West Liberty Foods 005                                       | West Liberty Foods 005                                       | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   4512231 | PA      | $4512231.16   | 0.25%             | 2027-06-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| West Liberty Foods 004                                       | West Liberty Foods 004                                       | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   3444152 | PA      | $3444152.22   | 0.19%             | 2027-02-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Washington Liftruck Inc. 001                                 | Washington Liftruck Inc. 001                                 | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |     68967 | PA      | $68967.25     | 0.00%             | 2027-01-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Voltron Global, LLC 001                                      | Voltron Global, LLC 001                                      | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1199153 | PA      | $1199153.43   | 0.07%             | 2027-07-29      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| MC Oslo Aurora, LLC                                          | MC Oslo Aurora, LLC                                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  18311111 | PA      | $18311110.61  | 1.03%             | 2025-07-11      | Fixed         | 13.25%                | Yes           |                  3 | On Loan: No      |
| Loop Inc.                                                    | Loop Inc.                                                    | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  13261865 | PA      | $13261864.63  | 0.75%             | 2027-04-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| Lienstar LLC                                                 | Lienstar LLC                                                 | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  65500394 | PA      | $65500393.86  | 3.69%             | 2026-12-31      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| Leyline Renewable Capital, LLC                               | Leyline Renewable Capital, LLC                               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  27156400 | PA      | $27156399.98  | 1.53%             | 2027-05-25      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| LBF Enterprises dba Powermatic Associates, Inc.              | LBF Enterprises dba Powermatic Associates, Inc.              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |     94127 | PA      | $94126.92     | 0.01%             | 2026-07-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| KVJ Properties, Inc. 002                                     | KVJ Properties, Inc. 002                                     | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    240280 | PA      | $240280.25    | 0.01%             | 2026-05-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| iApartments, Inc.                                            | iApartments, Inc.                                            | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  13394381 | PA      | $13394380.94  | 0.76%             | 2026-12-31      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Island Magic Catamaran Inc. 001                              | Island Magic Catamaran Inc. 001                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    261577 | PA      | $261577.09    | 0.01%             | 2026-10-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Information Technology Partners, Inc. 001                    | Information Technology Partners, Inc. 001                    | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   3937221 | PA      | $3937220.79   | 0.22%             | 2026-01-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| HSM Hawley LLC                                               | HSM Hawley LLC                                               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  18340882 | PA      | $18340882.49  | 1.03%             | 2026-04-05      | Fixed         | 10.50%                | Yes           |                  3 | On Loan: No      |
| Gregory Pharmaceutical Holdings, Inc. 001                    | Gregory Pharmaceutical Holdings, Inc. 001                    | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1095323 | PA      | $1095322.82   | 0.06%             | 2026-02-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Galaxy Management Company, LLC                               | Galaxy Management Company, LLC                               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1763529 | PA      | $1763529.43   | 0.10%             | 2023-11-10      | Fixed         | 14.00%                | Yes           |                  3 | On Loan: No      |
| GAC Media, LLC                                               | GAC Media, LLC                                               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  32500000 | PA      | $32500000.00  | 1.83%             | 2028-09-08      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| JRL Energy, Inc. 001                                         | JRL Energy, Inc. 001                                         | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   9790528 | PA      | $9790528.09   | 0.55%             | 2026-10-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| JF Wonderblock Phase 2, LLC                                  | JF Wonderblock Phase 2, LLC                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |     12416 | PA      | $12415.53     | 0.00%             | 2028-02-20      | Fixed         | 10.99%                | Yes           |                  3 | On Loan: No      |
| JDI Pasadena Logistics Center SPE, LLC                       | JDI Pasadena Logistics Center SPE, LLC                       | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   9069339 | PA      | $9069338.84   | 0.51%             | 2026-08-28      | Fixed         | 11.15%                | Yes           |                  3 | On Loan: No      |
| Island Magic Catamaran Inc. 002                              | Island Magic Catamaran Inc. 002                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    411579 | PA      | $411578.95    | 0.02%             | 2027-07-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Findlay Machine & Tool, LLC                                  | Findlay Machine & Tool, LLC                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   7505901 | PA      | $7505901.35   | 0.42%             | 2028-03-01      | Fixed         | 11.95%                | Yes           |                  3 | On Loan: No      |
| Feel Good Brands, LLC 002                                    | Feel Good Brands, LLC 002                                    | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |     70717 | PA      | $70716.61     | 0.00%             | 2027-11-04      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Feel Good Brands, LLC 001                                    | Feel Good Brands, LLC 001                                    | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |     22786 | PA      | $22785.74     | 0.00%             | 2027-11-04      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Falls Stamping & Welding Company                             | Falls Stamping & Welding Company                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |     75203 | PA      | $75203.22     | 0.00%             | 2026-10-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 051                           | EOS Fitness Opco Holdings, LLC 051                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    529168 | PA      | $529168.05    | 0.03%             | 2029-10-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 050                           | EOS Fitness Opco Holdings, LLC 050                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    720977 | PA      | $720976.67    | 0.04%             | 2028-10-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 049                           | EOS Fitness Opco Holdings, LLC 049                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1302012 | PA      | $1302012.12   | 0.07%             | 2029-10-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 048                           | EOS Fitness Opco Holdings, LLC 048                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    686455 | PA      | $686454.94    | 0.04%             | 2028-09-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 047                           | EOS Fitness Opco Holdings, LLC 047                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1252715 | PA      | $1252715.24   | 0.07%             | 2029-09-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 046                           | EOS Fitness Opco Holdings, LLC 046                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    653285 | PA      | $653285.29    | 0.04%             | 2028-09-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 045                           | EOS Fitness Opco Holdings, LLC 045                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1354808 | PA      | $1354808.25   | 0.08%             | 2029-09-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 044                           | EOS Fitness Opco Holdings, LLC 044                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    651468 | PA      | $651468.14    | 0.04%             | 2028-08-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 043                           | EOS Fitness Opco Holdings, LLC 043                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1585200 | PA      | $1585199.90   | 0.09%             | 2029-08-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 042                           | EOS Fitness Opco Holdings, LLC 042                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    642518 | PA      | $642518.19    | 0.04%             | 2028-07-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| EOS Fitness Opco Holdings, LLC 041                           | EOS Fitness Opco Holdings, LLC 041                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1241188 | PA      | $1241188.41   | 0.07%             | 2029-07-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| Coast Aluminum, Inc. 002                                     | Coast Aluminum, Inc. 002                                     | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1134094 | PA      | $1134094.39   | 0.06%             | 2028-04-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Coast Aluminum, Inc. 001                                     | Coast Aluminum, Inc. 001                                     | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2368645 | PA      | $2368644.74   | 0.13%             | 2027-07-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Cashman Photo Enterprises of Nevada, Inc.                    | Cashman Photo Enterprises of Nevada, Inc.                    | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |     21510 | PA      | $21510.13     | 0.00%             | 2026-04-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Carnaby FA, LLC 008                                          | Carnaby FA, LLC 008                                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   9161213 | PA      | $9161212.74   | 0.52%             | 2025-12-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| BluRoc Mat Financing Draw 2                                  | BluRoc Mat Financing Draw 2                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   3106292 | PA      | $3106291.86   | 0.18%             | 2027-08-05      | Fixed         | 17.90%                | Yes           |                  3 | On Loan: No      |
| BluRoc Intermediate, LLC                                     | BluRoc Intermediate, LLC                                     | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5943029 | PA      | $5943028.64   | 0.34%             | 2026-01-15      | Fixed         | 18.00%                | Yes           |                  3 | On Loan: No      |
| BluRoc 002 - Onset                                           | BluRoc 002 - Onset                                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2091483 | PA      | $2091483.07   | 0.12%             | 2028-07-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| BluRoc Mat Financing Draw 6                                  | BluRoc Mat Financing Draw 6                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2155854 | PA      | $2155853.79   | 0.12%             | 2028-01-05      | Fixed         | 17.90%                | Yes           |                  3 | On Loan: No      |
| BluRoc Mat Financing Draw 5                                  | BluRoc Mat Financing Draw 5                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    669953 | PA      | $669953.39    | 0.04%             | 2027-12-05      | Fixed         | 17.90%                | Yes           |                  3 | On Loan: No      |
| BluRoc Mat Financing Draw 4                                  | BluRoc Mat Financing Draw 4                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    990350 | PA      | $990350.06    | 0.06%             | 2027-11-05      | Fixed         | 17.90%                | Yes           |                  3 | On Loan: No      |
| BluRoc Mat Financing Draw 3                                  | BluRoc Mat Financing Draw 3                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2372098 | PA      | $2372097.89   | 0.13%             | 2027-09-05      | Fixed         | 17.90%                | Yes           |                  3 | On Loan: No      |
| Carnaby FA, LLC 004                                          | Carnaby FA, LLC 004                                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  20439999 | PA      | $20439998.94  | 1.15%             | 2027-06-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Car Wash Holdco, LLC 003                                     | Car Wash Holdco, LLC 003                                     | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    665366 | PA      | $665365.62    | 0.04%             | 2028-07-01      | Fixed         | 17.90%                | Yes           |                  3 | On Loan: No      |
| Car Wash Holdco, LLC 002                                     | Car Wash Holdco, LLC 002                                     | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    221140 | PA      | $221139.66    | 0.01%             | 2028-05-01      | Fixed         | 17.90%                | Yes           |                  3 | On Loan: No      |
| Car Wash Holdco, LLC 001                                     | Car Wash Holdco, LLC 001                                     | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    333009 | PA      | $333009.32    | 0.02%             | 2028-01-01      | Fixed         | 17.90%                | Yes           |                  3 | On Loan: No      |
| Car Wash Holdco, LLC                                         | Car Wash Holdco, LLC                                         | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  17809693 | PA      | $17809693.05  | 1.00%             | 2026-10-01      | Fixed         | 15.00%                | Yes           |                  3 | On Loan: No      |
| Capital Miller Pref NewCo, LLC                               | Capital Miller Pref NewCo, LLC                               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  16272984 | PA      | $16272983.71  | 0.92%             | 2027-12-05      | Fixed         | 14.00%                | Yes           |                  3 | On Loan: No      |
| BPH Equipment, LLC                                           | BPH Equipment, LLC                                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  52102151 | PA      | $52102150.67  | 2.94%             | 2030-07-03      | Fixed         | 12.00%                | Yes           |                  3 | On Loan: No      |
| Bondit LLC                                                   | Bondit LLC                                                   | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  54325620 | PA      | $54325619.97  | 3.06%             | 2027-05-31      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| OP PPR Sub-Holdco 1, LLC                                     | OP PPR Sub-Holdco 1, LLC                                     | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  34358224 | PA      | $34358223.68  | 1.94%             | 2026-02-14      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| Onward Partners, LLC                                         | Onward Partners, LLC                                         | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   4876813 | PA      | $4876812.56   | 0.27%             | 2026-06-18      | Fixed         | 15.00%                | Yes           |                  3 | On Loan: No      |
| Onset Financial, Inc. Progress Funding Line                  | Onset Financial, Inc. Progress Funding Line                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   7054751 | PA      | $7054750.87   | 0.40%             | 2028-04-10      | Fixed         | 11.00%                | Yes           |                  3 | On Loan: No      |
| Olympus Palms 3, LLC                                         | Olympus Palms 3, LLC                                         | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5937454 | PA      | $5937454.04   | 0.33%             | 2027-07-02      | Fixed         | 11.95%                | Yes           |                  3 | On Loan: No      |
| Olympus Palms 2, LLC                                         | Olympus Palms 2, LLC                                         | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5132000 | PA      | $5132000.00   | 0.29%             | 2027-07-02      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Olympus Palms 1, LLC                                         | Olympus Palms 1, LLC                                         | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5235134 | PA      | $5235134.01   | 0.30%             | 2027-07-02      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Olympus Oaks 9, LLC                                          | Olympus Oaks 9, LLC                                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   4300594 | PA      | $4300593.61   | 0.24%             | 2027-02-16      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Olympus Oaks 8, LLC                                          | Olympus Oaks 8, LLC                                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   3694104 | PA      | $3694103.86   | 0.21%             | 2027-02-16      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Olympus Oaks 7, LLC                                          | Olympus Oaks 7, LLC                                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5463397 | PA      | $5463396.95   | 0.31%             | 2027-02-16      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Olympus Oaks 6, LLC                                          | Olympus Oaks 6, LLC                                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5398000 | PA      | $5397999.52   | 0.30%             | 2027-02-16      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Olympus Oaks 5, LLC                                          | Olympus Oaks 5, LLC                                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   6543796 | PA      | $6543796.37   | 0.37%             | 2026-07-14      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| BizFund LLC                                                  | BizFund LLC                                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  81479112 | PA      | $81479112.07  | 4.59%             | 2027-12-30      | Fixed         | 11.85%                | Yes           |                  3 | On Loan: No      |
| BEP CO Springs Hospitality LLC                               | BEP CO Springs Hospitality LLC                               | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  12733243 | PA      | $12733242.88  | 0.72%             | 2026-02-24      | Fixed         | 11.95%                | Yes           |                  3 | On Loan: No      |
| BD RC Jacksonville Normandy, LP                              | BD RC Jacksonville Normandy, LP                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   3402231 | PA      | $3402231.05   | 0.19%             | 2026-03-18      | Fixed         | 10.50%                | Yes           |                  3 | On Loan: No      |
| Avensis Energy Services, LLC 004                             | Avensis Energy Services, LLC 004                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    206396 | PA      | $206396.01    | 0.01%             | 2026-09-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Atomic Orchard Experiment LLC                                | Atomic Orchard Experiment LLC                                | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  12068061 | PA      | $12068060.59  | 0.68%             | 2025-10-31      | Fixed         | 10.75%                | Yes           |                  3 | On Loan: No      |
| Ashton Oak Homes (Black Locust), LLC                         | Ashton Oak Homes (Black Locust), LLC                         | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  24810626 | PA      | $24810626.03  | 1.40%             | 2026-03-23      | Fixed         | 10.50%                | Yes           |                  3 | On Loan: No      |
| Arena Vantage SPV, LLC                                       | Arena Vantage SPV, LLC                                       | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5865798 | PA      | $5865797.69   | 0.33%             | 2024-05-31      | Fixed         | 11.00%                | Yes           |                  3 | On Loan: No      |
| Arcade Silverado JV LLC 002                                  | Arcade Silverado JV LLC 002                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    231365 | PA      | $231365.39    | 0.01%             | 2026-12-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| 8th Avenue Property Owners, LLC                              | 8th Avenue Property Owners, LLC                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  22557098 | PA      | $22557098.34  | 1.27%             | 2026-05-15      | Fixed         | 11.00%                | Yes           |                  3 | On Loan: No      |
| 750 Main Street LP                                           | 750 Main Street LP                                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  16174640 | PA      | $16174640.43  | 0.91%             | 2026-07-03      | Fixed         | 11.05%                | Yes           |                  3 | On Loan: No      |
| Prime Logistics, LLC                                         | Prime Logistics, LLC                                         | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   6461495 | PA      | $6461495.38   | 0.36%             | 2027-09-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| Pierce Street Holdings LLC                                   | Pierce Street Holdings LLC                                   | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    599447 | PA      | $599447.28    | 0.03%             | 2025-11-25      | Fixed         | 10.50%                | Yes           |                  3 | On Loan: No      |
| MV Cruise Offshore Holdings Ltd.                             | MV Cruise Offshore Holdings Ltd.                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        | 118312701 | PA      | $118312701.00 | 6.67%             | 2027-11-22      | Fixed         | 12.00%                | Yes           |                  3 | On Loan: No      |
| Navajo Health Foundation - Sage Memorial Hospital, Inc.      | Navajo Health Foundation - Sage Memorial Hospital, Inc.      | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1467372 | PA      | $1467372.02   | 0.08%             | 2027-01-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Nancy Jay Industrial Center, LLC                             | Nancy Jay Industrial Center, LLC                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  11272170 | PA      | $11272170.15  | 0.64%             | 2027-05-31      | Fixed         | 12.95%                | Yes           |                  3 | On Loan: No      |
| MIT45, Inc. 003B                                             | MIT45, Inc. 003B                                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    210236 | PA      | $210235.90    | 0.01%             | 2027-07-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| MIT45, Inc. 003A                                             | MIT45, Inc. 003A                                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |     79267 | PA      | $79266.55     | 0.00%             | 2027-07-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| MIT45, Inc. 003                                              | MIT45, Inc. 003                                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    389581 | PA      | $389580.85    | 0.02%             | 2027-06-30      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| MIT45, Inc. 002                                              | MIT45, Inc. 002                                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2350679 | PA      | $2350678.64   | 0.13%             | 2027-07-09      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Olympus Oaks 4, LLC                                          | Olympus Oaks 4, LLC                                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   6247656 | PA      | $6247656.38   | 0.35%             | 2026-07-13      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Olympus Oaks 2, LLC                                          | Olympus Oaks 2, LLC                                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   6640000 | PA      | $6640000.00   | 0.37%             | 2026-07-14      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Olympus Oaks 1, LLC                                          | Olympus Oaks 1, LLC                                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   6015981 | PA      | $6015980.70   | 0.34%             | 2026-07-14      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Olympus Bluffs 4, LLC                                        | Olympus Bluffs 4, LLC                                        | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5700000 | PA      | $5700000.00   | 0.32%             | 2026-09-09      | Fixed         | 11.95%                | Yes           |                  3 | On Loan: No      |
| NWC Services LLC                                             | NWC Services LLC                                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |     19213 | PA      | $19213.35     | 0.00%             | 2025-11-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Nutritional Resources, Inc.                                  | Nutritional Resources, Inc.                                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |     46204 | PA      | $46203.80     | 0.00%             | 2027-01-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Next Century Rebar LLC and Centry Steel Fabricators, LLC 002 | Next Century Rebar LLC and Centry Steel Fabricators, LLC 002 | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    538403 | PA      | $538403.01    | 0.03%             | 2027-02-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Nexseer Capital                                              | Nexseer Capital                                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  14065255 | PA      | $14065254.85  | 0.79%             | 2030-07-01      | Fixed         | 11.07%                | Yes           |                  3 | On Loan: No      |
| MH Leasing, LLC                                              | MH Leasing, LLC                                              | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  60039772 | PA      | $60039771.96  | 3.38%             | 2029-07-02      | Fixed         | 11.38%                | Yes           |                  3 | On Loan: No      |
| Metropolitan Partners Fund VIII, LP - EPM                    | Metropolitan Partners Fund VIII, LP - EPM                    | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  30098969 | PA      | $30098968.86  | 1.70%             | 2027-02-10      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Metropolitan Partners Fund VIII, LP - Axiom                  | Metropolitan Partners Fund VIII, LP - Axiom                  | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  18325294 | PA      | $18325294.49  | 1.03%             | 2028-08-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 011                          | Vensure Employer Services, Inc. 011                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1937357 | PA      | $1937357.38   | 0.11%             | 2026-04-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 010                          | Vensure Employer Services, Inc. 010                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1113813 | PA      | $1113813.05   | 0.06%             | 2026-02-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Vensure Employer Services, Inc. 009                          | Vensure Employer Services, Inc. 009                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |    945525 | PA      | $945524.85    | 0.05%             | 2028-03-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| FVP Funding II, LLC                                          | FVP Funding II, LLC                                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  25691088 | PA      | $25691088.21  | 1.45%             | 2027-10-12      | Fixed         | 12.00%                | Yes           |                  3 | On Loan: No      |
| FVP Funding I, LLC                                           | FVP Funding I, LLC                                           | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  12881388 | PA      | $12881388.21  | 0.73%             | 2027-02-06      | Fixed         | 12.00%                | Yes           |                  3 | On Loan: No      |
| Future Legends, LLC 001                                      | Future Legends, LLC 001                                      | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |     24150 | PA      | $24149.74     | 0.00%             | 2026-10-31      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| FPL Food LLC 006                                             | FPL Food LLC 006                                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2230705 | PA      | $2230705.03   | 0.13%             | 2029-01-01      | Fixed         | 11.95%                | Yes           |                  3 | On Loan: No      |
| Met SPV Holdings, LLC - Series Sutton                        | Met SPV Holdings, LLC - Series Sutton                        | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  47356486 | PA      | $47356486.37  | 2.67%             | 2027-06-01      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| Merced Security Storage, LLC                                 | Merced Security Storage, LLC                                 | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   8194840 | PA      | $8194839.80   | 0.46%             | 2026-05-06      | Fixed         | 10.50%                | Yes           |                  3 | On Loan: No      |
| Medshift, LLC 002                                            | Medshift, LLC 002                                            | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   4843351 | PA      | $4843351.37   | 0.27%             | 2027-12-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Medshift, LLC 001                                            | Medshift, LLC 001                                            | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   5145900 | PA      | $5145899.87   | 0.29%             | 2027-11-01      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| MC Test Service, Inc. 005                                    | MC Test Service, Inc. 005                                    | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1135233 | PA      | $1135232.59   | 0.06%             | 2027-07-08      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| MC Test Service, Inc. 004                                    | MC Test Service, Inc. 004                                    | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1007154 | PA      | $1007154.39   | 0.06%             | 2026-10-01      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| MC Test Service, Inc. 003                                    | MC Test Service, Inc. 003                                    | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1450335 | PA      | $1450334.72   | 0.08%             | 2027-07-01      | Fixed         | 12.00%                | Yes           |                  3 | On Loan: No      |
| MC Rye Westchase, LLC                                        | MC Rye Westchase, LLC                                        | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  11734471 | PA      | $11734471.33  | 0.66%             | 2025-08-09      | Fixed         | 13.25%                | Yes           |                  3 | On Loan: No      |
| MC Rye Northwest, LLC                                        | MC Rye Northwest, LLC                                        | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  10749134 | PA      | $10749134.00  | 0.61%             | 2025-08-09      | Fixed         | 13.25%                | Yes           |                  3 | On Loan: No      |
| MC Rye Katy, LLC                                             | MC Rye Katy, LLC                                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   3748422 | PA      | $3748421.72   | 0.21%             | 2025-08-09      | Fixed         | 13.25%                | Yes           |                  3 | On Loan: No      |
| MC Oslo SFQ, LLC                                             | MC Oslo SFQ, LLC                                             | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |   4753164 | PA      | $4753164.21   | 0.27%             | 2025-07-11      | Fixed         | 13.25%                | Yes           |                  3 | On Loan: No      |
| MC Oslo SFM Two, LLC                                         | MC Oslo SFM Two, LLC                                         | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  11465743 | PA      | $11465742.95  | 0.65%             | 2025-07-11      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| MC Oslo Hermitage, LLC                                       | MC Oslo Hermitage, LLC                                       | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              | CORP              | US        |  21328125 | PA      | $21328125.00  | 1.20%             | 2024-11-07      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-09

**Name of Applicant:** Keystone Private Income Fund

**Signature:** /s/ John Earl

**Name of Signer:** John Earl

**Title:** President