# EDGAR Filing Document

**Accession Number:** 0001586009
**File Stem:** 0002000324-26-000745
**Filing Date:** 2026-3
**Character Count:** 33683
**Document Hash:** a9f0a1bcc527b0092cdd08311f955ffa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-000745.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0002000324-26-000745

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Wildermuth Fund
- **CENTRAL INDEX KEY:** 0001586009

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22888
- **FILM NUMBER:** 26703974

**BUSINESS ADDRESS:**
- **STREET 1:** 3948 3RD STREET SOUTH
- **STREET 2:** #89
- **CITY:** JACKSONVILLE BEACH
- **STATE:** FL
- **ZIP:** 32250-5847
- **BUSINESS PHONE:** (678) 222-1100

**MAIL ADDRESS:**
- **STREET 1:** 3948 3RD STREET SOUTH
- **STREET 2:** #89
- **CITY:** JACKSONVILLE BEACH
- **STATE:** FL
- **ZIP:** 32250-5847

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Wildermuth Endowment Fund
- **DATE OF NAME CHANGE:** 20180905

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Wildermuth Endowment Strategy Fund
- **DATE OF NAME CHANGE:** 20130905

## Nport-Ex

**Wildermuth Fund**

**Schedule of Investments**

**December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Interests, Shares,<br> Principal,<br> Amount, or Units** | **COMMON STOCK - 0.02%** | **Fair Value** |
| 11397 | &nbsp;&nbsp;&nbsp;AtlasClear Holdings, Inc. <sup>(b)</sup> | $2860 |
|  | **TOTAL COMMON STOCK (Cost $3,126,329)** | 2860 |
|  | **COMMODITY & NATURAL RESOURCE INVESTMENTS - 2.26%** |  |
| 1976034 | &nbsp;&nbsp;&nbsp;Catalyst Resources, LLC <sup>(a)(b)(c)(e)(f)</sup> | 225995 |
| 2066031 | &nbsp;&nbsp;&nbsp;Thunder Investment Partners, LLC <sup>(a)(c)(d)(e)(f)</sup> | 112204 |
|  | **TOTAL COMMODITY & NATURAL RESOURCE INVESTMENTS (Cost $4,042,065)** | 338199 |
|  | **DIRECT PRIVATE EQUITY - 177.44%** |  |
| 41751 | &nbsp;&nbsp;&nbsp;Affinity Beverages, LLC <sup>(a)(b)(c)(e)</sup> | 174999 |
| 2500 | &nbsp;&nbsp;&nbsp;Clear Guide Medical, Inc. - Series A Preferred Stock <sup>(a)(b)(c)(d)(e)(f)</sup> | 5173000 |
| 134898 | &nbsp;&nbsp;&nbsp;Clear Guide Medical, Inc. - Series A-2 Preferred Stock <sup>(a)(b)(c)(d)(e)(f)</sup> | 988000 |
| 763283 | &nbsp;&nbsp;&nbsp;Clear Guide Medical, Inc. - Series A-3 Preferred Stock <sup>(a)(b)(c)(d)(e)(f)</sup> | 5257000 |
| 56180 | &nbsp;&nbsp;&nbsp;Clear Guide Medical, Inc. - Series A-4 Preferred Stock <sup>(a)(b)(c)(d)(e)(f)</sup> | 507000 |
| 157563 | &nbsp;&nbsp;&nbsp;Clear Guide Medical, Inc. - Series A-5 Preferred Stock <sup>(a)(b)(c)(d)(e)(f)</sup> | 1498000 |
| 2378888 | &nbsp;&nbsp;&nbsp;Clearsense, LLC - Common Shares <sup>(a)(b)(c)(d)(e)(f)</sup> | 307999 |
| 1690 | &nbsp;&nbsp;&nbsp;Level ATI HoldCo, LLC - Class A <sup>(a)(b)(c)(d)(e)(f)</sup> | 4610000 |
| 1880968 | &nbsp;&nbsp;&nbsp;Metro Diner, LLC - Series II Common Units <sup>(a)(b)(c)(e)(f)</sup> | 1207000 |
| 3500000 | &nbsp;&nbsp;&nbsp;Metro Diner, LLC - Series B Units <sup>(a)(b)(c)(e)(f)</sup> | 2842000 |
| 8800000 | &nbsp;&nbsp;&nbsp;Reach Enterprises, Inc. - Common Units <sup>(a)(b)(c)(d)(e)(f)</sup> |  |
| 309150 | &nbsp;&nbsp;&nbsp;Reach Enterprises, Inc. - Series Seed-1 Preferred Units <sup>(a)(b)(c)(d)(e)(f)</sup> |  |
| 1288103 | &nbsp;&nbsp;&nbsp;Reach Enterprises, Inc. - Series Seed-2 Preferred Units <sup>(a)(b)(c)(d)(e)(f)</sup> |  |
| 7627254 | &nbsp;&nbsp;&nbsp;Waratek, Ltd. - Common Shares <sup>(a)(b)(c)(d)(e)(f)</sup> | 4023885 |
| 635838 | &nbsp;&nbsp;&nbsp;Waratek, Ltd. - Series B-1 <sup>(a)(b)(c)(d)(e)(f)</sup> |  |
| 756826 | &nbsp;&nbsp;&nbsp;Waratek, Ltd. - Series B-2 <sup>(a)(b)(c)(d)(e)(f)</sup> |  |
| 426036 | &nbsp;&nbsp;&nbsp;WG Pitts Caribbean, LLC - Common Units <sup>(a)(b)(c)(d)(e)(f)</sup> |  |
|  | **TOTAL DIRECT PRIVATE EQUITY (Cost $37,048,629)** | 26588883 |
|  | **DIRECT REAL ESTATE - 8.62%** |  |
|  | &nbsp;&nbsp;&nbsp;Brookwood SFL Investor Co-Investment Vehicle, LLC <sup>(a)(b)(c)</sup> | 1292038 |
| 1800000 | &nbsp;&nbsp;&nbsp;LaGrange Senior Living, LLC - Class A Interests <sup>(a)(c)(d)(e)(f)</sup> |  |
|  | **TOTAL DIRECT REAL ESTATE (Cost 2,110,330)** | 1292038 |
|  | **HEDGE FUND - 0%** |  |
|  | &nbsp;&nbsp;&nbsp;Rosebrook Opportunities Fund LP <sup>(a)(b)(c)(d)(g)(h)</sup> |  |
|  | **TOTAL HEDGE FUND (Cost $994,053)** |  |

---

**Wildermuth Fund**

**Schedule of Investments**

**December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Interests, Shares,<br> Principal,<br> Amount, or Units** | **PRIVATE EQUITY DEBT - 0%** | **Fair Value** |
| 6638250 | &nbsp;&nbsp;&nbsp;Reach Enterprises, Inc. - Convertible Note, 8.00%, 9/30/2024 <sup>(a)(b)(c)(d)(e)(f)(i)</sup> | $— |
| 2500000 | &nbsp;&nbsp;&nbsp;Reach Enterprises, Inc. - Convertible Note, 12.00%, 10/1/2023 <sup>(a)(b)(c)(d)(e)(f)(i)(j)</sup> |  |
| 2033611 | &nbsp;&nbsp;&nbsp;The Work Shop Limited T/A RIP Global - Convertible Note, 12.00%, 12/31/2024 <sup>(a)(b)(c)(e)(f)(i)</sup> |  |
| 4436896 | &nbsp;&nbsp;&nbsp;WG Pitts Caribbean, LLC - Promissory Note, 12.00%, 6/30/2023 <sup>(a)(c)(d)(e)(f)(j)</sup> |  |
|  | **TOTAL PRIVATE EQUITY DEBT (Cost $15,182,716)** |  |
|  | **PRIVATE EQUITY FUNDS - 8.05%** |  |
|  | &nbsp;&nbsp;&nbsp;Auda Capital SCS SICAV SIF - Auda Asia Secondary Fund <sup>(a)(b)(c)(e)(g)(h)</sup> | 854200 |
|  | &nbsp;&nbsp;&nbsp;EJF Sidecar Fund, Series LLC - Small Financial Equities Series <sup>(a)(c)(g)(h)</sup> | 90872 |
| 10 | &nbsp;&nbsp;&nbsp;GPB Automotive Portfolio LP <sup>(a)(b)(c)(e)(f)(g)</sup> | 260486 |
|  | &nbsp;&nbsp;&nbsp;Gravity Ranch Fund I LP <sup>(a)(b)(c)(e)(f)(g)(h)</sup> |  |
|  | **TOTAL PRIVATE EQUITY FUNDS (Cost $1,346,789)** | 1205558 |
|  | **PRIVATE REAL ESTATE INVESTMENTS - 6.02%** |  |
| 92075 | &nbsp;&nbsp;&nbsp;ARCTRUST, Inc. <sup>(a)(c)(g)</sup> | 851466 |
| 56 | &nbsp;&nbsp;&nbsp;Shopoff Land Fund III LP <sup>(a)(b)(c)(g)</sup> | 50680 |
|  | **TOTAL PRIVATE REAL ESTATE INVESTMENTS (Cost $931,418)** | 902146 |
|  | **PUBLIC REAL ESTATE INVESTMENT DEBT - 0.57%** |  |
| 88054 | &nbsp;&nbsp;&nbsp;Cottonwood Communities, Inc. - Promissory Note, 7.00%, 1/1/2031 <sup>(a)(c)(e)</sup> | 86009 |
|  | **PUBLIC REAL ESTATE INVESTMENT DEBT (Cost $86,009)** | 86009 |
|  | **WARRANTS - 0%** |  |
| 1442 | &nbsp;&nbsp;&nbsp;Schweizer RSG, LLC, Exercise Price $112.50, Expiration Date 1/21/2028 <sup>(a)(b)(c)(e)(f)</sup> |  |
| 172792 | &nbsp;&nbsp;&nbsp;Waratek, Ltd., Exercise Price $0.01 Euro, Expiration Date 1/22/2028 <sup>(a)(b)(c)(d)(e)(f)</sup> |  |
|  | **TOTAL WARRANTS (Cost $0)** |  |

---

**Wildermuth Fund**

**Schedule of Investments**

**December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **SHORT-TERM INVESTMENT - 3.28%** | **Fair Value** |
| 492094 | Fidelity Institutional Government Portfolio - Institutional Class, 3.66% <sup>(k)</sup> | $492094 |
|  | **TOTAL SHORT-TERM INVESTMENT (Cost $492,094)** | 492094 |
|  | **TOTAL INVESTMENTS (Cost $65,360,432) - 206.26%** | 30907787 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS, NET - (106.26%)** | (15923247) |
|  | **NET ASSETS - 100%** | $14984540 |

---

<sup>(a)</sup> Illiquid Security. As of December 31, 2025, these securities amounted to $30,412,833 representing 202.96% of total net assets.

<sup>(b)</sup> Non-income Producing.

<sup>(c)</sup> Restricted Security. As of December 31, 2025, these securities amounted to $30,412,833 representing 202.96% of total net assets. Please refer to Investments in Restricted Securities section in the Notes to the Schedule of Investments.

<sup>(d)</sup> Denotes an investment in an affiliated entity. Please refer to the Investments in Affiliated Issuers section in the Notes to the Schedule of Investments.

<sup>(e)</sup> Level 3 security in accordance with fair value hierarchy.

<sup>(f)</sup> Security fair valued using method determined in good faith by the Valuation Designee designated by the Board of Trustees. As of December 31, 2025, these securities amounted to $27,012,569 representing 180.27% of total net assets.

<sup>(g)</sup> Private Fund. As of December 31, 2025, these securities amounted to $2,107,704 representing 14.07% of total net assets.

<sup>(h)</sup> Private Investment Company. As of December 31, 2025, these securities amounted to $945,072 representing 6.31% of total net assets.

<sup>(i)</sup> Payment-in-kind (PIK) security in which the issuer makes interest payments in the form of additional securities, as opposed to cash payouts. These additional securities generally have the same terms as the original holdings.

<sup>(j)</sup> Security is in default.

<sup>(k)</sup> Rate shown represents the 7-day effective yield at December 31, 2025, is subject to change and resets daily.

LLC - Limited Liability Company

LP - Limited Partnership

SLP - Special Limited Partnership

**The accompanying notes are an integral part of this schedule of investments.**

**Wildermuth Fund**

**Notes to Schedule of Investments<br> December 31, 2025 (Unaudited)**

**Investments in Restricted Securities** – Restricted securities include securities that have not been registered under the Securities Act of 1933, as amended, and securities that are subject to restrictions on resale. Investments in restricted securities are valued at fair value as determined in good faith by the Valuation Designee in accordance with procedures adopted by the Board of Trustees. It is possible that the estimated value may differ significantly from the amount that might ultimately be realized in the near term, and the difference could be material.

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **Initial <br> Acquisition Date** | **Shares, <br> Principal Amount, <br> or Units** | **Cost** |
| Affinity Beverages, LLC | February 21, 2020 | 41751 | $175000 |
| ARCTRUST, Inc. | June 30, 2016 | 92075 | 896571 |
| Auda Capital SCS SICAV SIF - Auda Asia Secondary Fund | April 2, 2018 |  | 213949 |
| Brookwood SFL Investor Co - Investment Vehicle, LLC | November 3, 2017 |  | 310330 |
| Clear Guide Medical, Inc. - Series A Preferred Stock | April 19, 2016 | 2500 | 2250000 |
| Clear Guide Medical, Inc. - Series A-2 Preferred Stock | March 6, 2018 | 134898 | 500000 |
| Clear Guide Medical, Inc. - Series A-3 Preferred Stock | July 16, 2018 | 763283 | 3085394 |
| Clear Guide Medical, Inc. - Series A-4 Preferred Stock | January 6, 2022 | 56180 | 250000 |
| Clear Guide Medical, Inc. - Series A-5 Preferred Stock | August 15, 2022 | 157563 | 750000 |
| Clearsense, LLC - Common Shares | February 20, 2019 | 2378888 | 9799865 |
| Catalyst Resources,, LLC | December 14, 2018 | 1976034 | 1976034 |
| Cottonwood Communities, Inc. - Promissory Note, 7.00%, 01/01/2031 | June 22, 2021 | 88054 | 86009 |
| EJF Sidecar Fund, Series LLC - Small Financial Equities Series | October 25, 2017 |  | 132840 |
| GPB Automotive Portfolio LP | March 13, 2015 | 10 | 500000 |
| Gravity Ranch Fund I LP | June 13, 2017 |  | 500000 |
| LaGrange Senior Living, LLC - Class A Interests | September 11, 2019 | 1800000 | 1800000 |

---

**Wildermuth Fund** 

**Notes to Schedule of Investments<br> December 31, 2025 (Unaudited)**

**Investments in Restricted Securities (continued)**

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **Initial <br> Acquisition Date** | **Shares, <br> Principal Amount, <br> or Units** | **Cost** |
| Level ATI HoldCo, LLC - Class A | September 10, 2018 | 1690 | $1690000 |
| Metro Diner, LLC - Series B Units | November 16, 2017 | 3500000 | 2276542 |
| Metro Diner, LLC - Series II Common Units | November 16, 2017 | 1880968 | 1223458 |
| Reach Enterprises, Inc. - Common Units | August 8, 2019 | 8800000 | 2758800 |
| Reach Enterprises, Inc. - Convertible Note, 8.00%, 09/30/2024 | April 30, 2021 | 6638250 | 6638250 |
| Reach Enterprises, Inc. - Convertible Note, 12.00%, 10/01/2023 | October 2, 2020 | 2500000 | 2500000 |
| Reach Enterprises, Inc. - Series Seed-1 Preferred Units | August 5, 2020 | 309150 | 458000 |
| Reach Enterprises, Inc. - Series Seed-2 Preferred Units | July 15, 2020 | 1288103 | 1526647 |
| Rosebrook Opportunities Fund LP | November 29, 2017 |  | 994053 |
| Schweizer RSG, LLC, Exercise Price $112.50, Expiration <br> Date 01/21/2028 | February 28, 2023 | 1442 |  |
| Shopoff Land Fund III LP | September 11, 2019 | 56 | 34846 |
| The Work Shop Limited T/A RIP Global - Convertible Note, <br> 12.00%, 12/31/2024 | September 10, 2018 | 2033611 | 2033611 |
| Thunder Investment Partners, LLC | November 2, 2018 | 2066031 | 2066031 |
| Waratek, Ltd. - Common Shares | November 24, 2021 | 7627254 | 3191374 |
| Waratek, Ltd., Exercise Price 0.01 Euro, Expiration Date 01/22/2028 | June 5, 2018 | 172792 |  |
| Waratek, Ltd. - Series B-1 | June 5, 2018 | 635838 | 2990569 |
| Waratek, Ltd. - Series B-2 | December 28, 2017 | 756826 | 3696940 |
| WG Pitts Caribbean, LLC - Common Units | October 12, 2018 | 426036 | 426040 |
|  |  |  | $57731153 |

---

**Wildermuth Fund**

**Notes to Schedule of Investments<br> December 31, 2025 (Unaudited)**

**Investments in Restricted Securities (continued)**

**Investments in Affiliated Issuers** – Issuers that are considered affiliates, as defined in Section 2(a)(3) of the 1940 Act, of the Fund at period-end are noted in the Fund's Schedule of Investments. The table below reflects transactions during the period with entities that are affiliates as of December 31, 2025 and may include acquisitions of new investments, prior year holdings that became affiliated during the period, and prior period affiliated holdings that are no longer affiliated as of period-end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Beginning <br> balance <br> April 1, <br> 2025** | **Purchases or <br> Conversions** | **Sales or <br> Conversions** | **Change in <br> Unrealized <br> Appreciation <br> (Depreciation)** | **Net <br> Realized <br> Gain <br> (Loss)** | **Tax Basis <br> or Return <br> of Capital <br> Adjustments** | **Ending <br> Value <br> December 31, 2025** | **Investment <br> Income** |
| Clear Guide Medical, Inc. |  |  |  |  |  |  |  |  |
| Series A Preferred Stock | $5173000 | $— | $— | $— | $— | $— | $5173000 | $— |
| Clear Guide Medical, Inc. |  |  |  |  |  |  |  |  |
| Series A-2 Preferred Stock | 988000 |  |  |  |  |  | 988000 |  |
| Clear Guide Medical, Inc. - Series A-3 Preferred Stock | 5257000 |  |  |  |  |  | 5257000 |  |
| Clear Guide Medical, Inc. |  |  |  |  |  |  |  |  |
| Series A-4 Preferred Stock | 507000 |  |  |  |  |  | 507000 |  |
| Clear Guide Medical, Inc. |  |  |  |  |  |  |  |  |
| Series A-5 Preferred Stock | 1498000 |  |  |  |  |  | 1498000 |  |
| Clearsense, LLC - Common Shares | 308000 |  |  |  |  |  | 308000 |  |
| LaGrange Senior Living, LLC - Class A Interests<sup>(1)</sup> |  |  |  |  |  |  |  |  |
| Level ATI HoldCo, LLC - Class A<sup>(1)</sup> | 4610000 |  |  | 940272 |  |  | 5550272 |  |
| Reach Enterprises, Inc. - Common Units<sup>(1)</sup> |  |  |  |  |  |  |  |  |
| Reach Enterprises, Inc. - Convertible Note - 8.00%, 09/30/2024<sup>(1)</sup> |  |  |  |  |  |  |  |  |
| Reach Enterprises, Inc. - Convertible Note - 12.00%, 10/01/2023<sup>(1)</sup> |  |  |  |  |  |  |  |  |
| Reach Enterprises, Inc. |  |  |  |  |  |  |  |  |
| - Series Seed-1 Preferred Units<sup>(1)</sup> |  |  |  |  |  |  |  |  |

---

**Wildermuth Fund**

**Notes to Schedule of Investments<br> December 31, 2025 (Unaudited)**

**Investments in Restricted Securities (continued)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Beginning <br> balance <br> April 1, <br> 2025** | **Purchases or <br> Conversions** | **Sales or <br> Conversions** | **Change in <br> Unrealized <br> Appreciation <br> (Depreciation)** | **Net <br> Realized <br> Gain <br> (Loss)** | **Tax Basis <br> or Return <br> of Capital <br> Adjustments** | **Ending <br> Value <br> December 31, 2025** | **Investment <br> Income** |
| Reach Enterprises, Inc. - Series Seed-2 Preferred Units<sup>(1)</sup> |  |  |  |  |  |  |  |  |
| Rosebrook Opportunities Fund LP<sup>(1)</sup> |  |  |  |  |  |  |  |  |
| Thunder Investment Partners, LLC<sup>(1)</sup> | 112204 |  |  |  |  |  | 112204 |  |
| Waratek, Ltd. - Common Shares<sup>(1)</sup> | 3702714 |  |  | 321171 |  |  | 3191374 |  |
| Waratek, Ltd. - Series B-1<sup>(1)</sup> |  |  |  |  |  |  |  |  |
| Waratek, Ltd. - Series B-2<sup>(1)</sup> |  |  |  |  |  |  |  |  |
| Waratek, Ltd., Exercise Price 0.01 Euro, Expiration Date 01/22/2028<sup>(1)</sup> |  |  |  |  |  |  |  |  |
| WG Pitts Caribbean, LLC - Common Units<sup>(1)</sup> |  |  |  |  |  |  |  |  |
| WG Pitts Caribbean, LLC - Promissory Note, 12.00%, 6/30/2023<sup>(1)</sup> |  |  |  |  |  |  |  |  |
|  | $22155918 | $— | $— | $1261443 | $— | $— | $22584850 | $— |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Wildermuth Fund

- **b. Investment Company Act file number:** 811-22888

- **c. CIK number of Registrant:** 0001586009

- **d. LEI of Registrant:** 549300UF17FOV1WHN689

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

  - **Street Address 1:** 3948 3rd Street South

  - **City:** Jacksonville Beach

  - **State:** FL

  - **Foreign country:** US

  - **Zip / Postal Code:** 32250

  - **Telephone number:** (888) 445-6032

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

- **a. Name of Series:** Wildermuth Fund

- **c. LEI of Series:** 549300UF17FOV1WHN689

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

- **a. Date of fiscal year-end:** 2026-03-31

- **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:** $31413048.29

**Total Liabilities:** $16428508.30

**Net Assets:** $14984539.99

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -2.13%               | -1.09%               | -0.55%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.01                    | $-144106.44                                |
| Month 2  | $0.01                    | $25208.65                                  |
| Month 3  | $44.63                   | $47835.55                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| AtlasClear Holdings                             | COMMON STOCK                                    | CUSIP: 128745205<br>LEI: 529900AJBGPB3XKCJH25 | Long             | EC               | CORP              | US        |     11397 | NS      | $2859.51      | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Catalyst Resources                              | Catalyst Resources                              | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   1976034 | OU      | $225995.00    | 1.51%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Thunder Investment                              | Thunder Investment                              | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   2066031 | OU      | $112204.00    | 0.75%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Brookwood SFL Invest                            | Brookwood SFL Invest                            | CUSIP: N/A<br>LEI: N/A                        | Long             | RE               |  | US        |       310 | OU      | $1292038.00   | 8.62%             |  |  |  | Yes           | N/A                | On Loan: No      |
| LaGrange Senior                                 | LaGrange Senior                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | RE               |  | US        |   1800000 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Affinity Beverage LLC                           | Affinity Beverage LLC                           | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |     41751 | OU      | $174999.32    | 1.17%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Clear Guide Medical                             | Clear Guide Medical                             | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |    134898 | OU      | $988000.00    | 6.59%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Clear Guide Medical                             | Clear Guide Medical                             | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |    763283 | OU      | $5257000.00   | 35.08%            |  |  |  | Yes           | 3                  | On Loan: No      |
| Clear Guide Medical Series A-4 Preferred Shares | Clear Guide Medical Series A-4 Preferred Shares | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | PF                | US        |     56180 | PA      | $507000.00    | 3.38%             | 2024-04-08      | Fixed         | 6.00%                 | Yes           | 3                  | On Loan: No      |
| Clear Guide Medical Series A-5 Preferred Shares | Clear Guide Medical Series A-5 Preferred Shares | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | PF                | US        |    157563 | PA      | $1498000.00   | 10.00%            | 2024-03-29      | Fixed         | 0.50%                 | Yes           | 3                  | On Loan: No      |
| Clear Guide Medical                             | Clear Guide Medical                             | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |      2500 | OU      | $5173000.00   | 34.52%            |  |  |  | Yes           | 3                  | On Loan: No      |
| Clearsense Common Stock                         | Clearsense Common Stock                         | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   2378888 | OU      | $307999.34    | 2.06%             |  |  |  | Yes           | 3                  | On Loan: No      |
| DSI Digital LLC                                 | DSI Digital LLC                                 | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   2074115 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| DSI Digital LLC                                 | DSI Digital LLC                                 | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   5791621 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Level ATI HoldCo LLC                            | Level ATI HoldCo LLC                            | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |      1690 | OU      | $4610000.00   | 30.77%            |  |  |  | Yes           | 3                  | On Loan: No      |
| Metro Diner                                     | Metro Diner                                     | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   1880968 | OU      | $1207000.00   | 8.05%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Metro Diner LLC                                 | Metro Diner LLC                                 | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   3500000 | OU      | $2842000.00   | 18.97%            |  |  |  | Yes           | 3                  | On Loan: No      |
| Reach Enterprises                               | Reach Enterprises                               | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   8800000 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Reach Seed                                      | Reach Seed                                      | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |    309150 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Reach Seed                                      | Reach Seed                                      | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   1288103 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Waratek Ltd                                     | Waratek Ltd                                     | CUSIP: N/A<br>LEI: N/A                        | Long             |  | NUSS              | IE        |   7627254 | OU      | $4023884.80   | 26.85%            |  |  |  | Yes           | 3                  | On Loan: No      |
| Waratek Ltd                                     | Waratek Ltd                                     | CUSIP: N/A<br>LEI: N/A                        | Long             |  | NUSS              | IE        |    635838 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Waratek Ltd                                     | Waratek Ltd                                     | CUSIP: N/A<br>LEI: N/A                        | Long             |  | NUSS              | US        |    756826 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| WG Pitts LLC                                    | WG Pitts LLC                                    | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |    426036 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Rosebrook Opp Fund                              | Rosebrook Opp Fund                              | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |    994054 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Fidelity Inst Govt Portfolio - I                | Fidelity Inst Govt Portfolio - I                | CUSIP: 316175108<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    492094 | PA      | $492093.82    | 3.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Cottonwood Note 7% 01/01/2031                   | Cottonwood Note 7% 01/01/2031                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | PF                | US        |     87037 | PA      | $87037.45     | 0.58%             | 2031-01-01      | Fixed         | 7.00%                 | Yes           | 3                  | On Loan: No      |
| DSI Promissory Note3                            | DSI Promissory Note3                            | CUSIP: N/A<br>LEI: N/A                        | N/A              |  | PF                | US        |    420589 | OU      | $420671.00    | 2.81%             |  |  |  | Yes           | 3                  | On Loan: No      |
| DSI Convertible Note Conv Note 03/31/2025       | DSI Convertible Note Conv Note 03/31/2025       | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | PF                | US        |   6015000 | PA      | $0.00         | 0.00%             | 2025-03-31      | Fixed         | 8.00%                 | Yes           | 3                  | On Loan: No      |
| Reach Secured Note 8%                           | Reach Secured Note 8%                           | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | PF                | US        |   6638250 | PA      | $0.00         | 0.00%             | 2024-09-30      | Fixed         | 8.00%                 | Yes           | 3                  | On Loan: No      |
| Reach Secured Note 12% 10/1/2023                | Reach Secured Note 12% 10/1/2023                | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | PF                | US        |   2500000 | PA      | $0.00         | 0.00%             | 2024-10-01      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |
| The Work Shop Limit Conv NTE 12% 12/31/23       | The Work Shop Limit Conv NTE 12% 12/31/23       | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | PF                | NZ        |   2033611 | PA      | $0.00         | 0.00%             | 2024-03-29      | None          | 12.00%                | Yes           | 3                  | On Loan: No      |
| Carribbean Note 2-A 12% 03/31/2026              | Carribbean Note 2-A 12% 03/31/2026              | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | PF                | US        |   4436896 | PA      | $0.00         | 0.00%             | 2026-03-31      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |
| Auda Asia Secondary                             | Auda Asia Secondary                             | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | LU        |    213949 | OU      | $854200.00    | 5.70%             |  |  |  | Yes           | 3                  | On Loan: No      |
| EJF Sidecar Fund                                | EJF Sidecar Fund                                | CUSIP: N/A<br>LEI: N/A                        | N/A              |  | PF                | US        |    132839 | OU      | $90872.00     | 0.61%             |  |  |  | Yes           | N/A                | On Loan: No      |
| GPB Automotive                                  | GPB Automotive                                  | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |        10 | OU      | $260485.95    | 1.74%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Gravity Ranch                                   | Gravity Ranch                                   | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |       500 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Arc Property Trust                              | Arc Property Trust                              | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |     92075 | OU      | $851466.34    | 5.68%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Shopoff Land Fund                               | Shopoff Land Fund                               | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |        56 | OU      | $50680.00     | 0.34%             |  |  |  | Yes           | N/A                | On Loan: No      |
| DSI Digital LLC                                 | DSI Digital LLC                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | PF                | US        |   1168527 | NC      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Schweizer RSG                                   | Schweizer RSG                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | PF                | US        |      1442 | NC      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Waratek Ltd                                     | Waratek Ltd                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | NUSS              | IE        |    172792 | NC      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |

### Signature

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

**Name of Applicant:** Wildermuth Fund

**Signature:** Mitchell Mansfield

**Name of Signer:** Mitchell Mansfield

**Title:** Principle Executive Officer