# EDGAR Filing Document

**Accession Number:** 0002021979
**File Stem:** 0000926877-26-000104
**Filing Date:** 2026-3
**Character Count:** 59463
**Document Hash:** 11720ff12e3ed2dec233c7130f4094aa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000926877-26-000104.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000926877-26-000104

**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:** First Trust Enhanced Private Credit Fund
- **CENTRAL INDEX KEY:** 0002021979

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23963
- **FILM NUMBER:** 26708163

**BUSINESS ADDRESS:**
- **STREET 1:** 235 WEST GALENA
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
- **BUSINESS PHONE:** 414-299-2270

**MAIL ADDRESS:**
- **STREET 1:** 235 WEST GALENA
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212

## Nport-Ex

**First Trust Enhanced Private Credit Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Principal<br> Amount ($) |  | Value |
|  | **ASSET-BACKED SECURITIES — 27.1%** |  |
|  | Arts SPV S.r.l. |  |
| 1500000<sup>1</sup> | &nbsp;&nbsp;&nbsp;10.650% (3-Month Euribor+855 basis points), 11/30/2041<sup>2,3,4</sup> | $1773117 |
|  | Deutsche Bank AG |  |
| 1500000<sup>1</sup> | &nbsp;&nbsp;&nbsp;Series 2025-1X, Class CLN, 11.565% (3-Month Euribor+950 basis points), 10/25/2035<sup>2,3,4,5</sup> | 1765244 |
|  | Fontwell II Securities 2020 Designated Activity Company |  |
| 712270<sup>1</sup> | &nbsp;&nbsp;&nbsp;Series 2020-1 Z, 14.189% (3-Month SONIA Swap+1,020 basis points), 12/18/2028<sup>2,3,4</sup> | 1174242 |
|  | Granville Ltd. |  |
| 2000000 | &nbsp;&nbsp;&nbsp;Series 25-1X, 10.210% (1-Month Term SOFR+650 basis points), 2/15/2030<sup>2,3,4</sup> | 1978310 |
|  | Gregory SPV S.R.L. |  |
| 1469580<sup>1</sup> | &nbsp;&nbsp;&nbsp;Series 32XC, 9.766% (3-Month Euribor+775 basis points), 12/30/2045<sup>2,3,4</sup> | 1730314 |
|  | Landesbank Baden-Wuerttemberg |  |
| 1591571<sup>1</sup> | &nbsp;&nbsp;&nbsp;Series LION-6 SNR, 9.724% (3-Month Euribor+765 basis points), 10/30/2036<sup>2,3,4</sup> | 1884697 |
|  | Lloyds Bank PLC |  |
| 994806<sup>1</sup> | &nbsp;&nbsp;&nbsp;11.325% (SONIA+735 basis points), 12/16/2030<sup>2,3,4</sup> | 1348124 |
|  | Mespil Securities |  |
| 524129 | &nbsp;&nbsp;&nbsp;Series 2021-1, Class B, 15.361% (90-Day SOFR Average+1,000 basis points), 12/8/2031<sup>2,3,4,6</sup> | 389550 |
|  | PYMES Magdalena |  |
| 1800000<sup>1</sup> | &nbsp;&nbsp;&nbsp;Series 12, Class NOTE, 9.010% (3-Month Euribor+700 basis points), 12/31/2039<sup>2,3,4,5</sup> | 2141638 |
| 681570<sup>1</sup> | &nbsp;&nbsp;&nbsp;Series 11, Class NOTE, 8.538% (3-Month Euribor+650 basis points), 7/4/2054<sup>2,3,4,5</sup> | 806550 |
|  | Santander Consumer Finance, S.A. |  |
| 6614981<sup>1</sup> | &nbsp;&nbsp;&nbsp;Series 2024-1, 8.504% (3-Month STIBOR+665 basis points), 12/25/2034<sup>2,3,4</sup> | 721393 |
| 19890000<sup>1</sup> | &nbsp;&nbsp;&nbsp;8.640% (3-Month CIBOR+665 basis points), 6/25/2035<sup>2,3,4</sup> | 3139636 |
|  | Santander UK PLC |  |
| 435912<sup>1</sup> | &nbsp;&nbsp;&nbsp;Series 2024-2 F, 14.950% (SONIA+0 basis points), 5/22/2034<sup>2,3,4</sup> | 599218 |
|  | St. Lawrence Corp. |  |
| 1000000 | &nbsp;&nbsp;&nbsp;Series 2023-1X, Class MEZZ, 13.690% (1-Month Term SOFR+975 basis points), 5/25/2033<sup>2,3,4,5,6</sup> | 1004767 |
|  | Standard Chartered Bank |  |
| 953846 | &nbsp;&nbsp;&nbsp;14.634% (3-Month Term SOFR+1,075 basis points), 4/19/2033<sup>2,3,4</sup> | 1016543 |
|  | **TOTAL ASSET-BACKED SECURITIES**<br> (Cost $20,220,137) | **21473343** |
|  | **BANK LOANS — 58.0%** |  |
|  | Accuray, Inc. |  |
| 380208 | &nbsp;&nbsp;&nbsp;1.000%, Delay Draw, 6/5/2030<sup>4,7</sup> | 379812 |
| 2582330 | &nbsp;&nbsp;&nbsp;8.699% Cash, 6.000% PIK, Term Loan (30-Day SOFR Average+1,050 basis points), 6/5/2030<sup>3,4,8</sup> | 2024810 |
| 380208 | &nbsp;&nbsp;&nbsp;1.000%, Delay Draw, 6/5/2030<sup>4,7</sup> |  |
|  | Byoma U.S., Inc. |  |
| 3000000 | &nbsp;&nbsp;&nbsp;9.812%, Term Loan (30-Day SOFR Average+600 basis points), 11/17/2027<sup>3,4</sup> | 2940000 |

---

**First Trust Enhanced Private Credit Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Principal<br> Amount ($) |  | Value |
|  | **BANK LOANS (Continued)** |  |
|  | C3 Rentals, LLC |  |
| 1374917 | &nbsp;&nbsp;&nbsp;12.000%, Term Loan, 4/22/2027<sup>4,9</sup> | $1395541 |
|  | Catalyst Brands, LLC |  |
| 8000000 | &nbsp;&nbsp;&nbsp;12.109%, Term Loan, 9/17/2030<sup>4,9</sup> | 8000000 |
|  | Connect America.com, LLC |  |
| 1985000 | &nbsp;&nbsp;&nbsp;9.752%, Term Loan, 12/31/2028<sup>4,9</sup> | 1943315 |
|  | Dorel Industries, Inc. |  |
| 1995000 | &nbsp;&nbsp;&nbsp;12.189%, Term Loan (3-Month Term SOFR+0 basis points), 9/29/2030<sup>3,4</sup> | 1871177 |
|  | Ipsen Group Holding GmbH |  |
| 2064791 | &nbsp;&nbsp;&nbsp;7.416% Cash, 7.250% PIK, Term Loan, 7/31/2029<sup>4,8,9</sup> | 2002812 |
|  | Leonard Valve Company, LLC |  |
| 987500 | &nbsp;&nbsp;&nbsp;9.186%, Term Loan (3-Month Term SOFR+550 basis points), 9/30/2027<sup>3,4</sup> | 987500 |
|  | Litigation Trust Class A- 1 DIP Interest |  |
| 352485 | &nbsp;&nbsp;&nbsp;0.000% Cash, 10.000% PIK, 12/31/2026<sup>4,8,9</sup> | 352484 |
|  | Litigation Trust Class A- 2 DIP Interest |  |
| 432206 | &nbsp;&nbsp;&nbsp;0.000% Cash, 10.000% PIK, 12/31/2026<sup>4,8,9</sup> | 432206 |
|  | Minds + Assembly, LLC |  |
| 3284531 | &nbsp;&nbsp;&nbsp;9.002%, Term Loan, 10/28/2026<sup>4,9</sup> | 3271393 |
| 181292 | &nbsp;&nbsp;&nbsp;0.500%, Revolver, 10/28/2026<sup>4,7</sup> |  |
|  | Nephorn Pharmaceuticals Corp. |  |
| 4923077 | &nbsp;&nbsp;&nbsp;13.491%, Term Loan, 1/31/2028<sup>4,9</sup> | 4898462 |
|  | Progress Lighting, LLC |  |
| 2465970 | &nbsp;&nbsp;&nbsp;13.870%, Term Loan (3-Month Term SOFR+1,000 basis points), 9/18/2029<sup>3,4</sup> | 2406626 |
|  | Riccobene Associates |  |
| 1310176 | &nbsp;&nbsp;&nbsp;8.466%, Term Loan (1-Month Term SOFR+475 basis points), 11/12/2027<sup>3,4</sup> | 1304280 |
| 135318 | &nbsp;&nbsp;&nbsp;0.500%, Revolver, 11/12/2027<sup>4,7</sup> |  |
| 226076 | &nbsp;&nbsp;&nbsp;8.486%, Delay Draw, 1/10/2028<sup>4,9</sup> | 225058 |
|  | Shryne Group, Inc. |  |
| 7382813 | &nbsp;&nbsp;&nbsp;15.357%, Term Loan, 5/26/2026<sup>4,9</sup> | 7382813 |
|  | Summit Spine & Joint Centers |  |
| 9328 | &nbsp;&nbsp;&nbsp;8.466%, Revolver (3-Month Term SOFR+0 basis points), 3/18/2028<sup>3,4</sup> | 9375 |
| 1025830 | &nbsp;&nbsp;&nbsp;8.913%, Term Loan, 3/18/2028<sup>4,9</sup> | 1029421 |
| 310945 | &nbsp;&nbsp;&nbsp;1.000%, Delay Draw, 3/18/2028<sup>4,7</sup> |  |
|  | West Side Holdco, LLC |  |
| 2994102 | &nbsp;&nbsp;&nbsp;13.000%, Term Loan, 9/3/2027<sup>4,9</sup> | 3143807 |
|  | **TOTAL BANK LOANS**<br> (Cost $45,688,383) | **46000892** |
|  | **COLLATERALIZED LOAN OBLIGATIONS — 1.9%** |  |
|  | Fortress Credit Opportunities CLO, LLC |  |
| 1500000 | &nbsp;&nbsp;&nbsp;Series 2022-19I, Class ER, 11.905% (3-Month Term SOFR+800 basis points), 10/15/2036<sup>3,5</sup> | **1507599** |
|  | **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br> (Cost $1,500,000) | **1507599** |

---

**First Trust Enhanced Private Credit Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Principal<br> Amount ($) |  | Value |
|  | **PRIVATE INVESTMENT VEHICLES — 11.3%** |  |
|  | **PRIVATE COLLATERALIZED LOAN OBLIGATIONS — 11.3%** |  |
|  | Fortress Credit Opportunities CLO, LLC |  |
| 2456800 | &nbsp;&nbsp;&nbsp;Series XXVII, 1/28/2035<sup>4</sup> | 2750633 |
|  | GPG Loan Funding, LLC |  |
| 511300 | &nbsp;&nbsp;&nbsp;4/29/2034<sup>10</sup> | 538251 |
|  | MCF CLO 12, LLC |  |
| 2382527 | &nbsp;&nbsp;&nbsp;2/24/2028<sup>4</sup> | 2717034 |
|  | NXT Capital CLO, LLC |  |
| 1673714 | &nbsp;&nbsp;&nbsp;Series 2026-1, 6/24/2028<sup>4</sup> | 1830542 |
|  | Private Credit Fund C-1 Holdco, LLC |  |
| 1074074 | &nbsp;&nbsp;&nbsp;Series 2023-1, 7/11/2033<sup>10</sup> | 1110447 |
|  |  | **8946907** |
|  | **TOTAL PRIVATE INVESTMENT VEHICLES**<br> (Cost $8,098,415) | **8946907** |

---

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  |  |
|  | **WARRANTS — 0.5%** |  |
| 633932 | Accuray, Inc., Expiration Date: December 31, 2028<sup>\*,4</sup> | 381745 |
| 27813 | Dorel Industries, Inc. - Class B, Expiration Date: September 30, 2032 | 29989 |
|  | **TOTAL WARRANTS** <br> (Cost $505,078) | **411734** |
|  | **SHORT-TERM INVESTMENTS — 2.0%** |  |
| 190000 | Morgan Stanley Institutional Liquidity Fund - Government Portfolio - Institutional Class, 3.64%<sup>11</sup> | 190000 |
| 1400753 | UMB Bank, Money Market Special II Deposit Investment, 3.48%<sup>11</sup> | 1400753 |
|  | **TOTAL SHORT-TERM INVESTMENTS**<br> (Cost $1,590,753) | **1590753** |
|  | **TOTAL INVESTMENTS — 100.8%**<br> (Cost $77,602,766) | **79931228** |
|  | Liabilities in Excess of Other Assets — (0.8)% | (612844) |
|  | **TOTAL NET ASSETS — 100.0%** | $**79318384** |

---

---

| |
|:---|
| CIBOR — Copenhagen Interbank Offered Rate |
| Euribor — Euro Interbank Offered Rate |
| LLC — Limited Liability Company |
| PLC — Public Limited Company |
| SOFR — Secured Overnight Financing Rate |
| SONIA — Sterling Overnight Index Average |
| STIBOR — Stockholm Interbank Offered Rate |

---

---

| |
|:---|
| <sup>\*</sup> Non-income producing security. |
| <sup>1</sup> Principal Amount denoted in local currency. |
| <sup>2</sup> All or a portion of this investment is a holding of FTEPCF Cayman Sub1 Ltd. |
| <sup>3</sup> Floating rate security, upon which the interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end. |
| <sup>4</sup> The value of these securities was determined using significant unobservable inputs. These are reported as Level 3 securities in the Fair Value Hierarchy. |
| <sup>5</sup> Callable. |
| <sup>6</sup> Foreign security denominated in U.S. Dollars. |
| <sup>7</sup> Represents an unfunded loan commitment. The rate disclosed is equal to the commitment fee. The negative cost and/or fair value, if applicable, is due to the discount received in excess of the principal amount of the unfunded commitment. |
| <sup>8</sup> Payment-in-kind interest is generally paid by issuing additional par of the security rather than paying cash. |
| <sup>9</sup> Variable rate security, upon which the interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end. |
| <sup>10</sup> Investment valued using net asset value per share as practical expedient. |
| <sup>11</sup> The rate is the annualized seven-day yield at period end. |

---

*See accompanying Notes to Consolidated Schedule of Investments.*

---

| |
|:---|
| **First Trust Enhanced Private Credit Fund** |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued** |
| **As of December 31, 2025 (Unaudited)** |
| **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Currency** | **Currency** | **Settlement** | **Settlement** | | | | |
|  | <br>**Counterparty** | **Exchange** | **Exchange** | **Date** | **Date** | **Currency**<br>**Amount**<br>**Purchased/**<br>**(Sold)** |<br>**Value at**<br>**Settlement**<br>**Date** |<br>**Value at**<br>**December 31, 2025** |<br>**Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| **PURCHASE CONTRACTS** | **PURCHASE CONTRACTS** | **PURCHASE CONTRACTS** |  |  |  |  |  |  |  |
| Euro | &nbsp;&nbsp;BNP Paribas |  | Euro per USD |  | 1/15/2026 | 611666 | $720787 | $719366 | $(1421) |
| Euro | &nbsp;&nbsp;BNP Paribas |  | Euro per USD |  | 2/13/2026 | 364666 | 430306 | 429431 | (875) |
| British Pound | &nbsp;&nbsp;BNP Paribas |  | GBP per USD |  | 1/15/2026 | 297666 | 399765 | 401221 | 1456 |
| British Pound | &nbsp;&nbsp;BNP Paribas |  | GBP per USD |  | 2/13/2026 | 417666 | 560884 | 562929 | 2045 |
| Swedish Krona | &nbsp;&nbsp;BNP Paribas |  | SEK per USD |  | 1/15/2026 | 726000 | 78738 | 78922 | 184 |
| Swedish Krona | &nbsp;&nbsp;BNP Paribas |  | SEK per USD |  | 2/13/2026 | 1793000 | 194754 | 195200 | 446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL PURCHASE CONTRACTS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL PURCHASE CONTRACTS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL PURCHASE CONTRACTS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL PURCHASE CONTRACTS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL PURCHASE CONTRACTS** |  |  | **2385234** | **2387069** | **1835** |
| **SALE CONTRACTS** | **SALE CONTRACTS** | **SALE CONTRACTS** | **SALE CONTRACTS** | **SALE CONTRACTS** |  |  |  |  |  |
| Euro | &nbsp;&nbsp;BNP Paribas |  | EUR per USD |  | 1/15/2026 | (4348000) | $(5055203) | $(5113580) | $(58377) |
| Euro | &nbsp;&nbsp;BNP Paribas |  | EUR per USD |  | 2/13/2026 | (4101000) | (4776476) | (4829342) | (52866) |
| Euro | &nbsp;&nbsp;BNP Paribas |  | EUR per USD |  | 3/13/2026 | (3736333) | (4414477) | (4405991) | 8486 |
| British Pound | &nbsp;&nbsp;BNP Paribas |  | GBP per USD |  | 1/15/2026 | (1055000) | (1401631) | (1422025) | (20394) |
| British Pound | &nbsp;&nbsp;BNP Paribas |  | GBP per USD |  | 2/13/2026 | (1133000) | (1488411) | (1527054) | (38643) |
| British Pound | &nbsp;&nbsp;BNP Paribas |  | GBP per USD |  | 3/13/2026 | (715333) | (960335) | (964024) | (3689) |
| Swedish Krona | &nbsp;&nbsp;BNP Paribas |  | SEK per USD |  | 1/15/2026 | (3245000) | (342686) | (352758) | (10072) |
| Swedish Krona | &nbsp;&nbsp;BNP Paribas |  | SEK per USD |  | 2/13/2026 | (4312000) | (458543) | (469437) | (10894) |
| Swedish Krona | &nbsp;&nbsp;BNP Paribas |  | SEK per USD |  | 3/13/2026 | (2519000) | (273953) | (274664) | (711) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SALE CONTRACTS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SALE CONTRACTS** |  |  |  |  |  | **(19171715)** | **(19358875)** | **(187160)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | $**(16786481)** | $**(16971806)** | $**(185325)** |

---

---

| |
|:---|
| EUR - Euro |
| GBP - British Pound |
| SEK - Swedish Krona |
| USD - United States Dollar |

---

*See accompanying Notes to Consolidated Schedule of Investments.*

**First Trust Enhanced Private Credit Fund**

**CONSOLIDATED PORTFOLIO COMPOSITION**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Country of Incorporation** | **Value** | **Percent of<br> Total Net<br> Assets** |
| Canada | $29989 | 0.1% |
| Denmark | 3139636 | 4.0% |
| European Union | 7153372 | 9.0% |
| Spain | 2948188 | 3.7% |
| Sweden | 721393 | 0.9% |
| United Kingdom | 3121584 | 3.9% |
| United States | 62817066 | 79.2% |
| **Total Investments** | **79931228** | **100.8%** |
| Liabilities in Excess of Other Assets | (612844) | (0.8)% |
| **Total Net Assets** | $**79318384** | **100.0%** |

---

*See accompanying Notes to Consolidated Schedule of Investments.*

**First Trust Enhanced Private Credit Fund**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Unaudited)**

**Note 1 — Valuation of Investments**

UMB Fund Services, Inc. ("UMBFS"), the Fund's administrator, calculates the Fund's net asset value ("NAV") as of the close of business on the last day of each month and at such other times as the Fund's Board of Trustees (the "Board" and the members thereof, "Trustees") may determine, including in connection with repurchases of Fund shares ("Shares"), in accordance with the procedures described below or as may be determined from time to time in accordance with policies established by the Board (each, a "Determination Date").

For purposes of calculating NAV, portfolio securities and other assets for which market quotations are readily available are valued at market value. A market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Fund can access at the measurement date, provided that a quotation will not be readily available if it is not reliable.

Investments for which market quotations are not readily available are valued at fair value as determined in good faith pursuant to Rule 2a-5 under the Investment Company Act. As a general principle, the fair value of a security or other asset is 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. Pursuant to Rule 2a-5, the Board has designated the Investment Adviser as the valuation designee (in such capacity, the "Valuation Designee") for the Fund to perform in good faith the fair value determination relating to all Fund investments, under the Board's oversight. The Investment Adviser carries out its designated responsibilities as Valuation Designee through its Valuation Committee. The fair values of one or more assets may not be the prices at which those assets are ultimately sold and the differences may be significant.

The Valuation Designee may value Fund portfolio securities for which market quotations are not readily available and other Fund assets by utilizing inputs from pricing services, quotation reporting systems, valuation agents and other third-party sources.

Securities traded on one or more of the U.S. national securities exchanges, the Nasdaq Stock Market or any foreign stock exchange will be valued at the last sale price or the official closing price on the exchange or system where such securities are principally traded for the business day as of the relevant Determination Date. If no sale or official closing price of particular securities are reported on a particular day, the securities will be valued at the closing bid price for securities held long, or the closing ask price for securities held short, or if a closing bid or ask price, as applicable, is not available, at either the exchange or system-defined closing price on the exchange or system in which such securities are principally traded. Over-the-counter securities not quoted on the Nasdaq Stock Market will be valued at the last sale price on the relevant Determination Date or, if no sale occurs, at the last bid price, in the case of securities held long, or the last ask price, in the case of securities held short, at the time NAV is determined. Equity securities for which no prices are obtained under the foregoing procedures, including those for which a pricing service supplies no exchange quotation or a quotation that is believed by the Valuation Designee not to reflect the fair value, will be valued at the bid price, in the case of securities held long, or the ask price, in the case of securities held short, supplied by one or more dealers making a market in those securities or one or more brokers. Futures index options will be valued at the mid-point between the last bid price and the last ask price on the relevant Determination Date at the time NAV is determined.

Fixed-income securities, except for private debt investments discussed below, with a remaining maturity of sixty (60) days or more, will normally be valued according to dealer-supplied mean quotations or mean quotations from a recognized pricing service. Fixed-income securities for which market quotations are unavailable or are believed by the Valuation Designee not to reflect fair value will be valued based upon broker-supplied quotations provided that if such quotations are unavailable or are believed by the Valuation Designee not to reflect fair value, such fixed-income securities will be valued using valuation models that take into account spread and daily yield changes on government securities in the appropriate market (e.g., matrix pricing). High quality investment grade debt securities (e.g., treasuries, commercial paper, etc.) with a remaining maturity of sixty (60) days or less are valued at amortized cost.

**First Trust Enhanced Private Credit Fund**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

**December 31, 2025 (Unaudited)**

The Valuation Designee will evaluate each private debt investment's fair value based on numerous factors, including but not limited to, changes in credit risk, construction risk, the financial strength of the borrower and the debt instrument's spread to US Treasuries. The Fund will also engage qualified external valuation consultants to provide valuation information, typically on a quarterly basis, but at least semi-annually. The Fund will generally value any private debt investments at the lesser of their amortized cost or the mid-point of any valuation range as provided by a qualified external valuation consultant. In certain circumstances, the Valuation Designee may determine that this amount does not represent the fair value of the private debt investment based on current market conditions. In such an instance, the Valuation Designee will fair value the investment using another methodology. In its fair valuation assessment process, the Valuation Designee may consider any information it deems appropriate including from external valuation consultants.

The Fund values its investments in private investment funds (generally private funds that are excluded from the definition of "investment company" pursuant to Sections 3(c)(1) or 3(c)(7) of the Investment Company Act) at the value determined by each private investment fund in accordance with such private investment fund's valuation policies and reported at the time of the Fund's valuation. The Fund will determine the fair value of such private investment fund based on the most recent final or estimated value reported by the private investment fund, as well as any other relevant information available at the time the Fund values its portfolio. A substantial amount of time may elapse between the pricing of Fund assets and the receipt of valuation information from the underlying manager of a private investment fund. Where deemed appropriate by the Valuation Designee and consistent with the Investment Company Act, investments in private investment funds may be valued at cost. Cost will be used only when cost is determined to best approximate the fair value of the particular private investment fund under consideration.

The Fund will generally value shares of open-end and closed-end investment companies that do not trade on one or more of the U.S. national securities exchanges at their respective NAVs.

Warrants for which market quotations are not readily available will be fair valued based on the underlying investment. The Fund will engage qualified external valuation consultants to provide valuation information, typically on a quarterly basis, but at least semiannually. The Fund will generally value warrants at the mid-point of any valuation range as provided by a qualified external valuation consultant. In certain circumstances, the Valuation Designee may determine that this amount does not represent the fair value of the warrant based on current market conditions. In such an instance, the Valuation Designee will fair value the investment using another methodology. In its fair valuation assessment process, the Valuation Designee may consider any information it deems appropriate including from external valuation consultants.

Assets and liabilities initially expressed in foreign currencies will be converted into U.S. dollars using foreign exchange rates provided by a pricing service. Trading in foreign securities generally is completed, and the values of such securities are determined, prior to the close of securities markets in the United States. Foreign exchange rates are also determined prior to such close. On occasion, the values of securities and exchange rates may be affected by events occurring between the time as of which determination of such values or exchange rates are made and the time as of which the NAV of the Fund is determined. When such events materially affect the values of securities held by the Fund or its liabilities, such securities and liabilities will be valued at fair value as determined in good faith by the Valuation Designee.

Investors should be aware that situations involving uncertainties as to the value of portfolio positions could have an adverse effect on the Fund's NAV if the judgments regarding appropriate valuations should prove incorrect.

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

ASC 820, *Fair Value Measurement* ("ASC 820") defines fair value, establishes a framework for measuring fair value in accordance with GAAP and expands disclosure about fair value measurements. It also provides guidance on determining when there has been a significant decrease in the volume and level of activity for an asset or a liability, when a transaction is not orderly and how that information must be incorporated into a fair value measurement.

**First Trust Enhanced Private Credit Fund**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

**December 31, 2025 (Unaudited)**

Under ASC 820, various inputs are used in determining the value of the Fund's investments. These inputs are summarized into three broad levels as described below:

&nbsp;&nbsp;&nbsp;&nbsp;· Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities
that the Fund has the ability to access.

&nbsp;&nbsp;&nbsp;&nbsp;· Level 2 — Observable inputs other than quoted prices included in Level 1 that are
observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument
on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and
similar data.

&nbsp;&nbsp;&nbsp;&nbsp;· Level 3 — Unobservable inputs for the asset or liability, to the extent relevant observable
inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing
the asset or liability, and would be based on the best information available.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement.

In accordance with ASU 2015-07, *Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent),* investments valued at the net asset value as practical expedient are not included in the fair value hierarchy. As such, investments in Private Collateralized Loan Obligations with a fair value of $1,648,698 are excluded from the fair value hierarchy as of December 31, 2025.

**First Trust Enhanced Private Credit Fund**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

**December 31, 2025 (Unaudited)**

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. The following table summarizes the Fund's investments that are measured at fair value by level within the fair value hierarchy as of December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets** |  |  |  |  |
| Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Asset-Backed Securities | $- | $- | $21473343 | $21473343 |
| &nbsp;&nbsp;&nbsp;Bank Loans |  |  | 46000892 | 46000892 |
| &nbsp;&nbsp;&nbsp;Collateralized Loan Obligations |  | 1507599 |  | 1507599 |
| &nbsp;&nbsp;&nbsp;Private Collateralized Loan Obligations |  |  | 7298209 | 7298209 |
| &nbsp;&nbsp;&nbsp;Warrants |  |  | 411734 | 411734 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 1590753 | - | - | 1590753 |
| Subtotal | $1590753 | $1507599 | $75184178 | $78282530 |
| Private Investment Vehicles |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Private Collateralized Loan Obligations |  |  |  | 1648698 |
| Total Investments |  |  |  | $79931228 |
| Other Financial Instruments \* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Forward Contracts | $- | $12617 | $- | $12617 |
| **Total Assets** | $1590753 | $1520216 | $75184178 | $79943845 |
| **Liabilities** |  |  |  |  |
| Other Financial Instruments \* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Forward Contracts | $- | $197942 | $- | $197942 |
| **Total Liabilities** | $- | $197942 | $- | $197942 |

---

<sup>\*</sup> Other financial instruments are derivative instruments such as forward foreign currency contracts. Forward foreign currency contracts are valued at the unrealized appreciation/(depreciation) on the instrument.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** First Trust Enhanced Private Credit Fund

- **b. Investment Company Act file number:** 811-23963

- **c. CIK number of Registrant:** 0002021979

- **d. LEI of Registrant:** 254900G48BG2P8MIDJ45

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

  - **Street Address 1:** 235 West Galena Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53212

  - **Telephone number:** 414-299-2270

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

- **a. Name of Series:** First Trust Enhanced Private Credit Fund

- **c. LEI of Series:** 254900G48BG2P8MIDJ45

**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:** $80395827.53

**Total Liabilities:** $1364972.39

**Net Assets:** $79030855.14

**Cash Not Reported:** $199457.61

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 371.063264276781 | **30-Year:** 137.626125023219

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.09%                | 0.63%                | 1.01%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $19924.17                | $-80914.04                                 |
| Month 2  | $-26742.94               | $181780.07                                 |
| Month 3  | $20095.34                | $501418.52                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Audax-Riccobene Co. DDTL Audax Private   /    | Audax-Riccobene Co. DDTL Audax Private   /                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    226204 | PA      | $225186.01    | 0.28%             | 2028-01-10      | Variable      | 8.49%                 | No            | 3                  | On Loan: No      |
| AUDAX RICCOBENE TL   /                        | AUDAX RICCOBENE TL   /                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1310176 | PA      | $1304280.10   | 1.65%             | 2027-11-12      | Variable      | 8.47%                 | No            | 3                  | On Loan: No      |
| AUDAX SUMMIT SPINE REVOLVER   /               | AUDAX SUMMIT SPINE REVOLVER   /                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      9328 | PA      | $9375.00      | 0.01%             | 2028-03-18      | Variable      | 8.91%                 | No            | 3                  | On Loan: No      |
| AUDAX SUMMIT SPINE TL   /                     | AUDAX SUMMIT SPINE TL   /                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1025830 | PA      | $1029420.62   | 1.30%             | 2028-03-18      | Variable      | 8.91%                 | No            | 3                  | On Loan: No      |
| AUDAX Co.-INVEST TL    /                      | AUDAX Co.-INVEST TL    /                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3284531 | PA      | $3271393.13   | 4.14%             | 2026-10-28      | Variable      | 9.00%                 | No            | 3                  | On Loan: No      |
| TCW ACCURAY PENNY PREMIUM WARRANTS   /        | TCW ACCURAY PENNY PREMIUM WARRANTS   /                              | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     45576 | NC      | $25682.12     | 0.03%             |  |  |  | No            | 3                  | On Loan: No      |
| TCW ACCURAY PENNY PENNY WARRANTS   /          | TCW ACCURAY PENNY PENNY WARRANTS   /                                | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     36461 | NC      | $29701.13     | 0.04%             |  |  |  | No            | 3                  | On Loan: No      |
| TCW ACCURAY PENNY SUPERPREMIUMWARRANTS   /    | TCW ACCURAY PENNY SUPERPREMIUMWARRANTS   /                          | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     63807 | NC      | $35157.78     | 0.04%             |  |  |  | No            | 3                  | On Loan: No      |
| TCW ACCURAY PENNY PENNY WARRANTS   /          | TCW ACCURAY PENNY PENNY WARRANTS   /                                | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |    130157 | NC      | $106025.89    | 0.13%             |  |  |  | No            | 3                  | On Loan: No      |
| TCW ACCURAY PREMIUM PREMIUM WARRANTS   /      | TCW ACCURAY PREMIUM PREMIUM WARRANTS   /                            | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |    357931 | NC      | $185178.47    | 0.23%             |  |  |  | No            | 3                  | On Loan: No      |
| ARES CAPITAL 2023-1 SUBORDINATED NOTE   /     | ARES CAPITAL 2023-1 SUBORDINATED NOTE   /                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1074074 | PA      | $1110446.97   | 1.41%             | 2033-07-11      | None          | 0.00%                 | No            | N/A                | On Loan: No      |
| ARTS SPV SRL VAR RT11/30/2041   /             | ARTS SPV SRL VAR RT11/30/2041   /                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | IT        |   1500000 | PA      | $1773116.70   | 2.24%             | 2041-11-30      | Variable      | 10.65%                | No            | 3                  | On Loan: No      |
| FONTW 2020-1 Z VAR RATE  12/18/2028   /       | FONTW 2020-1 Z VAR RATE  12/18/2028   /                             | CUSIP: BCC2QA9A4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | GB        |    713818 | PA      | $1176793.48   | 1.49%             | 2028-12-18      | Variable      | 14.19%                | No            | 3                  | On Loan: No      |
| Mespil Securities                             | Mespil Securities                                                   | CUSIP: BCC341BD7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |    524129 | PA      | $389550.33    | 0.49%             | 2031-12-08      | Floating      | 15.36%                | No            | 3                  | On Loan: No      |
| ST. LAWRENCE SRT USD CORP.                    | St (*** Please punctuate:  St. or State ***) Lawrence Srt Usd Corp. | CUSIP: 999999999<br>LEI: 254900Q1AXE1IXAJJM39 | Long             | ABS-CBDO         | CORP              | CA        |   1000000 | PA      | $1004767.00   | 1.27%             | 2033-05-25      | Floating      | 13.69%                | No            | 3                  | On Loan: No      |
| SCH 1 B Mtge VAR RT 04/19/33   /              | SCH 1 B Mtge VAR RT 04/19/33   /                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1065731.00   | 1.35%             | 2033-04-19      | Variable      | 14.63%                | No            | 3                  | On Loan: No      |
| COLSS 2024-2 F Mtge VAR RT 05/22/2034   /     | COLSS 2024-2 F Mtge VAR RT 05/22/2034   /                           | CUSIP: BCC3GBMB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | GB        |    435912 | PA      | $599218.30    | 0.76%             | 2034-05-22      | None          | 14.95%                | No            | 3                  | On Loan: No      |
| Pymes Magdalena                               | Fondo de Titulizacion Magdalena 11                                  | CUSIP: BCC3JL3Y0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | ES        |    681570 | PA      | $806549.58    | 1.02%             | 2054-07-04      | Floating      | 8.54%                 | No            | 3                  | On Loan: No      |
| SANTADER CONSUMER FINANCE24-1 12/25/34   /    | SANTADER CONSUMER FINANCE24-1 12/25/34   /                          | CUSIP: BCC3JLXT8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | SE        |   6614981 | PA      | $721393.25    | 0.91%             | 2034-12-25      | Variable      | 8.50%                 | No            | 3                  | On Loan: No      |
| Deutsche Bank AG                              | Deutsche Bank A.G./GATE 2025-1                                      | CUSIP: BCC3LQKC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | DE        |   1500000 | PA      | $1765243.86   | 2.23%             | 2035-10-25      | Floating      | 11.56%                | No            | 3                  | On Loan: No      |
| Magdalena                                     | Magdalena 12 Fondo de Titulizacion                                  | CUSIP: 999999999<br>LEI: 9845005C1F6CC38CAA33 | Long             | ABS-CBDO         | CORP              | ES        |   1800000 | PA      | $2141638.27   | 2.71%             | 2039-12-31      | Floating      | 9.01%                 | No            | 3                  | On Loan: No      |
| LEGO 2023-1 B VAR RT 6/25/2035   /            | LEGO 2023-1 B VAR RT 6/25/2035   /                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | DK        |  19890000 | PA      | $3139635.73   | 3.97%             | 2035-06-25      | Variable      | 8.64%                 | No            | 3                  | On Loan: No      |
| CANADIAN DOLLARS  /                           | CANADIAN DOLLARS  /                                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | STIV             |  | CA        |       630 | OU      | $459.25       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| SWISS FRANC  /                                | SWISS FRANC  /                                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | STIV             |  | CH        |      2273 | OU      | $2869.50      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CCLF SPV LLC CLO EQUITY 4/29/34   /           | CCLF SPV LLC CLO EQUITY 4/29/34   /                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    511300 | PA      | $538251.23    | 0.68%             | 2034-04-29      | None          | 0.00%                 | No            | N/A                | On Loan: No      |
| Fortress Credit Opportunities                 | Fortress Credit Opportunities XIX CLO LLC                           | CUSIP: 34964RAZ6<br>LEI: 254900TCFL84ON4RYM29 | Long             | ABS-CBDO         | CORP              | US        |   1500000 | PA      | $1507599.00   | 1.91%             | 2036-10-15      | Floating      | 11.90%                | No            | 2                  | On Loan: No      |
| LLOYDS BANK PLC 12/16/2030   /                | LLOYDS BANK PLC 12/16/2030   /                                      | CUSIP: BCC3JSBN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | GB        |    996999 | PA      | $1351095.55   | 1.71%             | 2030-12-16      | Variable      | 11.32%                | No            | 3                  | On Loan: No      |
| LBBW LION-6 SNR 10/30/2036   /                | LBBW LION-6 SNR 10/30/2036   /                                      | CUSIP: BCC3JWDF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | XX        |   1591571 | PA      | $1884697.17   | 2.38%             | 2036-10-30      | Variable      | 9.72%                 | No            | 3                  | On Loan: No      |
| GRANVILLE USD Ltd. VAR RT 02/15/2030   /      | GRANVILLE USD Ltd. VAR RT 02/15/2030   /                            | CUSIP: BCC3KJ828<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1978310.00   | 2.50%             | 2030-02-15      | Variable      | 10.21%                | No            | 3                  | On Loan: No      |
| GREGORY SPV SRL VAR RT12/30/2045   /          | GREGORY SPV SRL VAR RT12/30/2045   /                                | CUSIP: BCC3LJFB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | XX        |   1469580 | PA      | $1730313.44   | 2.19%             | 2045-12-30      | Variable      | 9.77%                 | No            | 3                  | On Loan: No      |
| GBP FWD CONTRACT 02/13/2026   /               | GBP FWD CONTRACT 02/13/2026   /                                     | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | GB        |    417666 | OU      | $562929.11    | 0.71%             |  |  |  | No            | 2                  | On Loan: No      |
| GBP FWD CONTRACT 02/13/2026   /               | GBP FWD CONTRACT 02/13/2026   /                                     | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | GB        |  -1133000 | OU      | $-1527054.34  | -1.93%            |  |  |  | No            | 2                  | On Loan: No      |
| GBP FORWARD CONTRACT 3/13/2026   /            | GBP FORWARD CONTRACT 3/13/2026   /                                  | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | GB        |   -715333 | OU      | $-964024.27   | -1.22%            |  |  |  | No            | 2                  | On Loan: No      |
| GBP FWD CONTRACT 01/15/2026   /               | GBP FWD CONTRACT 01/15/2026   /                                     | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | GB        |    297666 | OU      | $401221.19    | 0.51%             |  |  |  | No            | 2                  | On Loan: No      |
| GBP FWD CONTRACT 01/15/2026   /               | GBP FWD CONTRACT 01/15/2026   /                                     | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | GB        |  -1055000 | OU      | $-1422024.53  | -1.80%            |  |  |  | No            | 2                  | On Loan: No      |
| LEONARD VALVE TERM LOAN 09/30/2027   /        | LEONARD VALVE TERM LOAN 09/30/2027   /                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    987500 | PA      | $987500.00    | 1.25%             | 2027-09-30      | Variable      | 9.19%                 | No            | 3                  | On Loan: No      |
| APOGEM MCF CLO 12 CLO   /                     | APOGEM MCF CLO 12 CLO   /                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2382527 | PA      | $2717034.10   | 3.44%             | 2028-02-24      | None          | 0.00%                 | No            | 3                  | On Loan: No      |
| MSILF Government Portfolio                    | MSILF Government Portfolio - Class Institutional                    | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |    190000 | PA      | $190000.00    | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| NXT CAPITAL CLO 2026-1 CLO EQUITY   /         | NXT CAPITAL CLO 2026-1 CLO EQUITY   /                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1673714 | PA      | $1830541.32   | 2.32%             | 2028-06-24      | None          | 0.00%                 | No            | 3                  | On Loan: No      |
| SEK FORWARD CONTRACT 01/15/26   /             | SEK FORWARD CONTRACT 01/15/26   /                                   | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | SE        |    726000 | OU      | $78922.06     | 0.10%             |  |  |  | No            | 2                  | On Loan: No      |
| SEK FORWARD CONTRACT 02/13/2026   /           | SEK FORWARD CONTRACT 02/13/2026   /                                 | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | SE        |   1793000 | OU      | $195199.65    | 0.25%             |  |  |  | No            | 2                  | On Loan: No      |
| SEK FORWARD CONTRACT 02/13/2026   /           | SEK FORWARD CONTRACT 02/13/2026   /                                 | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | SE        |  -4312000 | OU      | $-469437.20   | -0.59%            |  |  |  | No            | 2                  | On Loan: No      |
| SEK FORWARD CONTRACT 03/13/26   /             | SEK FORWARD CONTRACT 03/13/26   /                                   | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | SE        |  -2519000 | OU      | $-274664.19   | -0.35%            |  |  |  | No            | 2                  | On Loan: No      |
| SWEDISH KRONA  /                              | SWEDISH KRONA  /                                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | STIV             |  | SE        |   1106782 | OU      | $120217.41    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| SEK FORWARD AKSIAPUB CONTRACT 1/15/2026   /   | SEK FORWARD AKSIAPUB CONTRACT 1/15/2026   /                         | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | SE        |  -3245000 | OU      | $-352757.67   | -0.45%            |  |  |  | No            | 2                  | On Loan: No      |
| UMB MONEY MARKET II SPECIAL   /               | UMB MONEY MARKET II SPECIAL   /                                     | CUSIP: SF8888628<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    483529 | PA      | $483528.87    | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| TCW Accuray DDTL    /                         | TCW Accuray DDTL    /                                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    416667 | PA      | $416232.60    | 0.53%             | 2030-06-05      | None          | 0.00%                 | No            | 3                  | On Loan: No      |
| TCW ACCURAY, Inc. TL   /                      | TCW ACCURAY, Inc. TL   /                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2582330 | PA      | $2024809.74   | 2.56%             | 2030-06-05      | Variable      | 14.52%                | No            | 3                  | On Loan: No      |
| TCW Co.-Invest TL CONNECT AMERICA   /         | TCW Co.-Invest TL CONNECT AMERICA   /                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1987500 | PA      | $1945762.50   | 2.46%             | 2028-12-31      | Variable      | 9.75%                 | No            | 3                  | On Loan: No      |
| WHWK DIP A2 INT DIP  12/31/2026   /           | WHWK DIP A2 INT DIP  12/31/2026   /                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    428334 | PA      | $428333.52    | 0.54%             | 2026-12-31      | Variable      | 10.50%                | No            | 3                  | On Loan: No      |
| WHITEHAWK C3 FINANCE TERM LOAN 04/22/2027   / | WHITEHAWK C3 FINANCE TERM LOAN 04/22/2027   /                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1400000 | PA      | $1421000.00   | 1.80%             | 2027-04-22      | Variable      | 12.00%                | No            | 3                  | On Loan: No      |
| WHITEHAWK CATALYST TERM LOAN   /              | WHITEHAWK CATALYST TERM LOAN   /                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8000000 | PA      | $8000000.00   | 10.12%            | 2030-09-17      | Variable      | 12.11%                | No            | 3                  | On Loan: No      |
| WHITEHAWK NEPH TERM LOAN   /                  | WHITEHAWK NEPH TERM LOAN   /                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4923077 | PA      | $4898461.54   | 6.20%             | 2028-01-31      | Variable      | 13.49%                | No            | 3                  | On Loan: No      |
| WHITEHAWK SHRYNE TERM LOAN   /                | WHITEHAWK SHRYNE TERM LOAN   /                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7382812 | PA      | $7382812.50   | 9.34%             | 2026-05-26      | Variable      | 15.36%                | No            | 3                  | On Loan: No      |
| WHITEHAWK WEST SIDE TERM LOAN 09/03/2027   /  | WHITEHAWK WEST SIDE TERM LOAN 09/03/2027   /                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2994102 | PA      | $3143807.08   | 3.98%             | 2027-09-03      | Variable      | 13.00%                | No            | 3                  | On Loan: No      |
| DOREL INDUST CL B WARRANTS 09/30/2032   /     | DOREL INDUST CL B WARRANTS 09/30/2032   /                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DE               | CORP              | CA        |     27813 | NC      | $29989.25     | 0.04%             |  |  |  | No            | 3                  | On Loan: No      |
| DANISH KRONE  /                               | DANISH KRONE  /                                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | STIV             |  | DK        |    427292 | OU      | $67229.66     | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| EUR FORWARD CONTRACT 01/15/26   /             | EUR FORWARD CONTRACT 01/15/26   /                                   | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | XX        |    611666 | OU      | $719365.86    | 0.91%             |  |  |  | No            | 2                  | On Loan: No      |
| EUR FORWARD CONTRACT 01/15/26   /             | EUR FORWARD CONTRACT 01/15/26   /                                   | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | XX        |  -4348000 | OU      | $-5113579.56  | -6.47%            |  |  |  | No            | 2                  | On Loan: No      |
| EUR FWD CONTRACT 03/13/2026   /               | EUR FWD CONTRACT 03/13/2026   /                                     | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | XX        |  -3736333 | OU      | $-4405990.72  | -5.58%            |  |  |  | No            | 2                  | On Loan: No      |
| EURO FORWARD CONTRACT 2/13/26   /             | EURO FORWARD CONTRACT 2/13/26   /                                   | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | XX        |    364666 | OU      | $429431.08    | 0.54%             |  |  |  | No            | 2                  | On Loan: No      |
| EURO FORWARD CONTRACT 2/13/26   /             | EURO FORWARD CONTRACT 2/13/26   /                                   | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | XX        |  -4101000 | OU      | $-4829342.05  | -6.11%            |  |  |  | No            | 2                  | On Loan: No      |
| FORTRESS BYOMA TL   /                         | FORTRESS BYOMA TL   /                                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3000000 | PA      | $2940000.00   | 3.72%             | 2027-11-17      | Variable      | 9.81%                 | No            | 3                  | On Loan: No      |
| FORTRESS CREDIT OPP XXVII CLO EQUITY   /      | FORTRESS CREDIT OPP XXVII CLO EQUITY   /                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2456800 | PA      | $2750633.28   | 3.48%             | 2035-01-28      | None          | 0.00%                 | No            | 3                  | On Loan: No      |
| TCW IPSEN TL LLC   /                          | TCW IPSEN TL LLC   /                                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2064791 | PA      | $2002811.55   | 2.53%             | 2029-07-31      | Variable      | 14.67%                | No            | 3                  | On Loan: No      |
| TCW KICHLER LIGHTING    /                     | TCW KICHLER LIGHTING    /                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2472221 | PA      | $2412725.85   | 3.05%             | 2029-09-18      | Variable      | 13.87%                | No            | 3                  | On Loan: No      |
| TCW DOREL TERM LOAN   /                       | TCW DOREL TERM LOAN   /                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2000000 | PA      | $1875867.00   | 2.37%             | 2030-09-29      | Fixed         | 12.19%                | No            | 3                  | On Loan: No      |
| WHWK DIP A1 INT DIP  12/31/2026   /           | WHWK DIP A1 INT DIP  12/31/2026   /                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    349332 | PA      | $349332.03    | 0.44%             | 2026-12-31      | Variable      | 10.50%                | No            | 3                  | On Loan: No      |

### Signature

**Date Signed:** 2026-02-22

**Name of Applicant:** First Trust Enhanced Private Credit Fund

**Signature:** /s/ Michael D. Peck

**Name of Signer:** Michael D. Peck

**Title:** President