# EDGAR Filing Document

**Accession Number:** 0001582138
**File Stem:** 0001145549-23-013281
**Filing Date:** 2023-2
**Character Count:** 24237
**Document Hash:** 251d453a753aa0bebd88880375464256
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-013281.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001145549-23-013281

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Equalize Community Development Fund
- **CENTRAL INDEX KEY:** 0001582138
- **IRS NUMBER:** 464014640
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22875
- **FILM NUMBER:** 23682646

**BUSINESS ADDRESS:**
- **STREET 1:** 37 WEST AVENUE
- **STREET 2:** SUITE 301
- **CITY:** WAYNE
- **STATE:** PA
- **ZIP:** 19087
- **BUSINESS PHONE:** 610-337-6500

**MAIL ADDRESS:**
- **STREET 1:** 37 WEST AVENUE
- **STREET 2:** SUITE 301
- **CITY:** WAYNE
- **STATE:** PA
- **ZIP:** 19087

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Bluestone Community Development Fund
- **DATE OF NAME CHANGE:** 20190506

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** 504 FUND
- **DATE OF NAME CHANGE:** 20141028

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PENNANT 504 FUND
- **DATE OF NAME CHANGE:** 20130723

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Equalize Community Development Fund

- **b. Investment Company Act file number:** 811-22875

- **c. CIK number of Registrant:** 0001582138

- **d. LEI of Registrant:** 549300G10P3XIEETOE66

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

  - **Street Address 1:** 37 West Avenue

  - **City:** Wayne

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19087

  - **Telephone number:** 6103376500

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

- **a. Name of Series:** Equalize Community Development Fund

- **c. LEI of Series:** 549300G10P3XIEETOE66

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

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-12-31

**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:** $53200668.33

**Total Liabilities:** $4492601.38

**Net Assets:** $48708066.95

**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:** 7.524483453777 | **1-Year:** 664.181497937447 | **5-Year:** 2588.231282040428 | **10-Year:** 8770.870477474465 | **30-Year:** 6876.353469901827

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -0.11%               | -0.00%               | 0.44%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1026.17                | $-244503.41                                |
| Month 2  | $-5529.59                | $-118669.05                                |
| Month 3  | $-2776.20                | $58025.96                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Moses Lake Investors LLC                                      | Moses Lake Investors, LLC, Washington, 9/18/2014                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    859657 | PA      | $863335.90    | 1.77%             | 2039-10-01      | Variable      | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 7410-7428 Bellaire LLC                                        | 7410-7428 Bellaire, LLC, California, 8/22/2014                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1991735 | PA      | $1817617.19   | 3.73%             | 2039-09-15      | Variable      | 5.78%                 | Yes           |                  3 | On Loan: No      |
| Grigorian Investments LLC                                     | Grigorian Investments, LLC, California, 9/2/2014                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    484941 | PA      | $477337.55    | 0.98%             | 2039-09-15      | Variable      | 6.33%                 | Yes           |                  3 | On Loan: No      |
| 413 East 53rd Street, LLC                                     | 413 East 53rd Street, LLC, New York, 2/4/2014                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1507100 | PA      | $1541763.20   | 3.17%             | 2044-02-01      | Variable      | 5.68%                 | Yes           |                  3 | On Loan: No      |
| Stanly Avenue Realty LLC                                      | Stanley Avenue Realty, LLC, New York, 9/17/2014                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1702265 | PA      | $1681701.42   | 3.45%             | 2044-09-15      | Variable      | 6.70%                 | Yes           |                  3 | On Loan: No      |
| Watson Osburn Property, LLC                                   | Watson Osburn Property, LLC, Idaho, 2/9/2015                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    440082 | PA      | $446129.19    | 0.92%             | 2040-06-01      | Variable      | 9.00%                 | Yes           |                  3 | On Loan: No      |
| SGLP Enterprises, LLC and Smokin' Guns BBQ and Catering, Inc. | SGLP Enterprises, LLC, Smokin' Guns BBQ & Catering, Inc., Missouri, 3/18/2016 | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    461468 | PA      | $471938.46    | 0.97%             | 2023-09-12      | Variable      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| Mariano D. Cibran                                             | Mariano D. Cibran, Florida, 5/23/2016                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1174576 | PA      | $1167175.99   | 2.40%             | 2046-06-01      | Variable      | 7.97%                 | Yes           |                  3 | On Loan: No      |
| McDonough Hospitality Plaza, LLC                              | McDonough Hospitality Plaza, LLC, Georgia, 12/1/2016                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4500000 | PA      | $4473945.00   | 9.19%             | 2024-09-05      | Fixed         | 5.25%                 | Yes           |                  3 | On Loan: No      |
| Shiv Shakti Investments, LLC                                  | Shiv Shakti Investments, LLC, Georgia, 6/20/2017                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1750000 | PA      | $1727145.00   | 3.55%             | 2024-12-15      | Fixed         | 5.25%                 | Yes           |                  3 | On Loan: No      |
| KES, Inc.                                                     | KES, Inc., Georgia, 12/9/2020                                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    450815 | PA      | $435527.89    | 0.89%             | 2029-12-02      | Fixed         | 6.75%                 | Yes           |                  3 | On Loan: No      |
| JPEG, Inc.                                                    | JPEG, Inc., Florida, 12/11/2020                                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    152433 | PA      | $143538.80    | 0.29%             | 2030-08-01      | Variable      | 6.50%                 | Yes           |                  3 | On Loan: No      |
| STMX Partners, LLC                                            | STMX Partners, LLC, Georgia, 12/16/2020                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    494087 | PA      | $459392.03    | 0.94%             | 2030-10-15      | Variable      | 6.00%                 | Yes           |                  3 | On Loan: No      |
| Janet J. Lopez and Robert E. Lopez                            | Janet J. Lopez and Robert E. Lopez, California, 10/16/2020                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    415966 | PA      | $398242.06    | 0.82%             | 2045-09-01      | Variable      | 6.75%                 | Yes           |                  3 | On Loan: No      |
| Jereme Lee James                                              | Jereme Lee James, California, 4/7/2021                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    210436 | PA      | $203534.00    | 0.42%             | 2046-02-01      | Variable      | 6.50%                 | Yes           |                  3 | On Loan: No      |
| Uncle Pops LLC                                                | Uncle Pops LLC, California, 4/23/2021                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    666616 | PA      | $638651.84    | 1.31%             | 2046-03-01      | Variable      | 6.18%                 | Yes           |                  3 | On Loan: No      |
| Budva Properties, LLC                                         | Budva Properties, LLC, Arizona, 8/6/2021                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1241308 | PA      | $1175208.82   | 2.41%             | 2046-07-01      | Variable      | 6.25%                 | Yes           |                  3 | On Loan: No      |
| Pinar Truck, Inc.                                             | Pinar Truck, Inc., Florida, 8/23/2021                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    662419 | PA      | $614201.33    | 1.26%             | 2031-04-23      | Variable      | 6.00%                 | Yes           |                  3 | On Loan: No      |
| The DiNatale Firm, LLC                                        | The DiNatale Firm, LLC, Georgia, 12/10/2021                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    590957 | PA      | $551433.73    | 1.13%             | 2031-08-16      | Variable      | 5.50%                 | Yes           |                  3 | On Loan: No      |
| Acworth Recylcing, LLC                                        | Acworth Recycling, LLC, Georgia, 1/14/2021                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    289266 | PA      | $270613.89    | 0.56%             | 2029-12-15      | Fixed         | 6.75%                 | Yes           |                  3 | On Loan: No      |
| U.S. Retail Ventures LLC                                      | U.S. Retail Ventures LLC, Texas, 7/30/2021                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2387504 | PA      | $2313897.73   | 4.75%             | 2038-12-27      | Variable      | 8.25%                 | Yes           |                  3 | On Loan: No      |
| Dorris Fitness, LLC                                           | Dorris Fitness, LLC, Georgia, 6/3/2021                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    526998 | PA      | $485444.10    | 1.00%             | 2030-01-28      | Fixed         | 6.75%                 | Yes           |                  3 | On Loan: No      |
| Ceeport Group LLC                                             | Ceeport Group LLC, Florida, 6/10/2021                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    541145 | PA      | $428895.31    | 0.88%             | 2030-03-19      | Fixed         | 6.50%                 | Yes           |                  3 | On Loan: No      |
| Kiva Holdings LLC and Kiran Fitness LLC                       | Kiva Holdings LLC, South Carolina, 6/17/2021                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    772448 | PA      | $726610.95    | 1.49%             | 2030-02-21      | Fixed         | 6.75%                 | Yes           |                  3 | On Loan: No      |
| Oaks at Pooler, LLC                                           | Oaks at Pooler, LLC, Georgia, 6/30/2021                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5401477 | PA      | $5124705.38   | 10.52%            | 2031-04-01      | Variable      | 6.25%                 | Yes           |                  3 | On Loan: No      |
| Duane Auto Sale LLC                                           | Duane Auto Sale LLC, California, 5/14/2021                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    662617 | PA      | $613364.97    | 1.26%             | 2046-05-01      | Variable      | 6.25%                 | Yes           |                  3 | On Loan: No      |
| Sanchez Rodriguez, LLC                                        | Sanchez Rodrigues, LLC, California, 11/03/2021                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1341951 | PA      | $1228005.73   | 2.52%             | 2046-09-01      | Variable      | 5.85%                 | Yes           |                  3 | On Loan: No      |
| 537 Maple Hotel LLC                                           | 537 Maple Hotel LLC, New Jersey, 10/15/2021                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1999869 | PA      | $1907575.21   | 3.92%             | 2031-10-01      | Variable      | 6.00%                 | Yes           |                  3 | On Loan: No      |
| Clarke Avenue Realty LLC                                      | Clarke Avenue Realty LLC, Delaware, 4/4/2022                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   3087739 | PA      | $2947061.44   | 6.05%             | 2048-04-01      | Variable      | 5.34%                 | Yes           |                  3 | On Loan: No      |
| Clarke Avenue Realty LLC                                      | Clarke Avenue Realty LLC, Delaware, 4/8/2022                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   3087739 | PA      | $3118832.35   | 6.40%             | 2048-04-01      | Variable      | 4.34%                 | Yes           |                  3 | On Loan: No      |
| Progressive Medical Management of Batesville, Inc.            | Progressive Medical Management of Batesville, Inc., Mississippi, 12/15/22     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    750000 | PA      | $744622.50    | 1.53%             | 2036-12-15      | Fixed         | 7.16%                 | Yes           |                  3 | On Loan: No      |
| Seabright Pacific LLC                                         | Seabright Pacific LLC, California, 2/14/2022                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1259107 | PA      | $1214194.84   | 2.49%             | 2047-01-01      | Variable      | 5.75%                 | Yes           |                  3 | On Loan: No      |
| Roebuck Fire District, South Carolina                         | Roebuck Fire District, South Carolina, 2/25/2022                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1125772 | PA      | $1029642.51   | 2.11%             | 2041-05-06      | Fixed         | 3.41%                 | Yes           |                  3 | On Loan: No      |
| Roebuck Fire District, South Carolina                         | Roebuck Fire District, South Carolina, 1/26/2022                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    175902 | PA      | $159669.67    | 0.33%             | 2041-05-06      | Variable      | 4.41%                 | Yes           |                  3 | On Loan: No      |
| 5205 Orange LLC, Florida                                      | 5205 Orange LLC, Florida, 6/23/2022                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1437713 | PA      | $1439437.77   | 2.96%             | 2031-06-01      | Variable      | 5.88%                 | Yes           |                  3 | On Loan: No      |
| Cookson Holdings LLC, Lloyd's Hardware LLC, Wisconsin         | Cookson Holdings LLC, Lloyd's Hardware LLC, Wisconsin, 4/1/2032               | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    914360 | PA      | $928313.09    | 1.91%             | 2032-04-01      | Variable      | 6.56%                 | Yes           |                  3 | On Loan: No      |
| Limitless Sun LLC                                             | Limitless Sun LLC, California, 3/7/2022                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    659782 | PA      | $643604.14    | 1.32%             | 2047-02-01      | Variable      | 5.95%                 | Yes           |                  3 | On Loan: No      |
| Nowlin Properties LLC                                         | Nowlin Properties LLC, California, 3/16/2022                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1131187 | PA      | $1160393.80   | 2.38%             | 2047-03-01      | Variable      | 5.78%                 | Yes           |                  3 | On Loan: No      |
| Mary Deno                                                     | Mary Deno, California, 3/29/2022                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    990307 | PA      | $981621.86    | 2.02%             | 2032-01-01      | Variable      | 6.80%                 | Yes           |                  3 | On Loan: No      |
| Fred Hairabidian                                              | Fred Hairabidian, California, 5/3/2022                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    503303 | PA      | $519222.73    | 1.07%             | 2046-09-01      | Variable      | 5.85%                 | Yes           |                  3 | On Loan: No      |
| Nexelm LLC                                                    | Nexelm LLC, California, 5/4/2022                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    476245 | PA      | $490527.37    | 1.01%             | 2047-01-01      | Variable      | 5.95%                 | Yes           |                  3 | On Loan: No      |
| Royal Foods Mendota, LLC                                      | Royal Foods Mendota, LLC, California, 5/6/2022                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    810559 | PA      | $816500.64    | 1.68%             | 2047-04-01      | Variable      | 6.00%                 | Yes           |                  3 | On Loan: No      |
| Nicholas Holdings, LLC                                        | Nicholas Holdings, LLC, Georiga, 11/8/2022                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2683000 | PA      | $2430422.14   | 4.99%             | 2031-10-22      | Variable      | 5.50%                 | Yes           |                  3 | On Loan: No      |
| Bonumose, Inc.                                                | Bonumose, Inc., Virginia, 11/8/2022                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    392500 | PA      | $393057.35    | 0.81%             | 2028-11-07      | Fixed         | 8.70%                 | Yes           |                  3 | On Loan: No      |
| Bonumose, Inc.                                                | Bonumose, Inc., Virginia, 11/8/2022                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    607500 | PA      | $651009.15    | 1.34%             | 2028-11-07      | Fixed         | 7.70%                 | Yes           |                  3 | On Loan: No      |
| MSILF Treasury Portfolio                                      | MSILF Treasury Portfolio, Class Institutional USD                             | CUSIP: 61747C582<br>LEI: 549300D1XR6GP7EZ0T47 | Long             | STIV             | RF                | US        |    468445 | PA      | $468444.59    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-20

**Name of Applicant:** Equalize Community Development Fund

**Signature:** /s/ Joseph Gladue

**Name of Signer:** Joseph Gladue

**Title:** Principal Financial Officer